Phillips Edison & Company, Inc. $PECO Holdings Decreased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 21.6% in the second quarter, Holdings Channel.com reports. The fund owned 2,597 shares of the company’s stock after selling 715 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Phillips Edison & Company, Inc. were worth $91,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in Phillips Edison & Company, Inc. by 78.1% during the 1st quarter. Fifth Third Bancorp now owns 732 shares of the company’s stock worth $27,000 after buying an additional 321 shares during the last quarter. CX Institutional bought a new position in Phillips Edison & Company, Inc. during the 1st quarter worth $30,000. Quarry LP grew its stake in Phillips Edison & Company, Inc. by 21,362.5% during the 1st quarter. Quarry LP now owns 1,717 shares of the company’s stock worth $63,000 after buying an additional 1,709 shares during the last quarter. FSC Wealth Advisors LLC bought a new position in Phillips Edison & Company, Inc. during the 1st quarter worth $91,000. Finally, Rossby Financial LCC bought a new position in Phillips Edison & Company, Inc. during the 1st quarter worth $105,000. 80.70% of the stock is currently owned by institutional investors.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ:PECO opened at $33.25 on Monday. Phillips Edison & Company, Inc. has a 1 year low of $32.40 and a 1 year high of $40.12. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 60.45, a PEG ratio of 1.13 and a beta of 0.54. The business has a fifty day moving average of $34.50 and a 200-day moving average of $34.94.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.01. The business had revenue of $173.47 million during the quarter, compared to analyst estimates of $174.38 million. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%.The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 earnings per share. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. On average, equities research analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, November 4th. Stockholders of record on Wednesday, October 15th will be issued a $0.1083 dividend. The ex-dividend date is Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 3.9%. Phillips Edison & Company, Inc.’s dividend payout ratio is 236.36%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PECO shares. Wall Street Zen downgraded Phillips Edison & Company, Inc. from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Phillips Edison & Company, Inc. in a research note on Wednesday, October 8th. LADENBURG THALM/SH SH started coverage on Phillips Edison & Company, Inc. in a research note on Tuesday, September 9th. They set a “buy” rating and a $40.00 price objective for the company. Mizuho lowered their price objective on Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, July 17th. Finally, Barclays increased their price target on Phillips Edison & Company, Inc. from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $39.17.

Phillips Edison & Company, Inc. Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.