Granite Investment Partners LLC Sells 69,365 Shares of Phillips Edison & Company, Inc. $PECO

Granite Investment Partners LLC trimmed its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 31.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 152,564 shares of the company’s stock after selling 69,365 shares during the period. Granite Investment Partners LLC’s holdings in Phillips Edison & Company, Inc. were worth $5,238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in shares of Phillips Edison & Company, Inc. by 12.8% in the 1st quarter. Royal Bank of Canada now owns 81,726 shares of the company’s stock worth $2,982,000 after purchasing an additional 9,250 shares during the period. AQR Capital Management LLC grew its position in Phillips Edison & Company, Inc. by 8.2% during the first quarter. AQR Capital Management LLC now owns 11,091 shares of the company’s stock valued at $405,000 after buying an additional 845 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Phillips Edison & Company, Inc. during the first quarter valued at approximately $333,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Phillips Edison & Company, Inc. by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,111 shares of the company’s stock valued at $2,668,000 after buying an additional 3,199 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Phillips Edison & Company, Inc. by 1.3% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 137,505 shares of the company’s stock worth $4,817,000 after acquiring an additional 1,776 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PECO shares. Mizuho set a $39.00 price objective on shares of Phillips Edison & Company, Inc. in a research report on Friday, January 9th. Wall Street Zen raised Phillips Edison & Company, Inc. from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Evercore set a $42.00 price objective on Phillips Edison & Company, Inc. and gave the stock an “outperform” rating in a research note on Friday, February 6th. Weiss Ratings raised Phillips Edison & Company, Inc. from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. Finally, Morgan Stanley increased their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Phillips Edison & Company, Inc. Trading Up 2.3%

NASDAQ:PECO opened at $39.25 on Monday. Phillips Edison & Company, Inc. has a 12-month low of $32.40 and a 12-month high of $39.27. The stock has a 50-day moving average price of $36.22 and a 200 day moving average price of $35.15. The stock has a market capitalization of $4.94 billion, a P/E ratio of 44.10, a P/E/G ratio of 1.00 and a beta of 0.53.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.28). Phillips Edison & Company, Inc. had a return on equity of 4.29% and a net margin of 15.32%.The business had revenue of $187.86 million during the quarter, compared to analysts’ expectations of $183.18 million. During the same period in the prior year, the firm posted $0.62 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Phillips Edison & Company, Inc. has set its FY 2026 guidance at 0.740-0.770 EPS. On average, research analysts predict that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Friday, May 15th will be given a dividend of $0.1083 per share. The ex-dividend date is Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 146.07%.

Phillips Edison & Company, Inc. Profile

Phillips Edison & Company, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of grocery-anchored, necessity-based shopping centers. The company’s investment strategy is centered on properties that benefit from everyday consumer demand, seeking to deliver stable cash flows through long-term, triple-net leases with national and regional tenants in the grocery, drugstore and essential retail sectors.

In addition to its core retail portfolio, Phillips Edison & Company provides integrated services covering property management, asset management, leasing, development and acquisition sourcing.