Norges Bank Takes Position in Phillips Edison & Company, Inc. $PECO

Norges Bank purchased a new stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 1,991,837 shares of the company’s stock, valued at approximately $70,850,000.

Several other large investors have also modified their holdings of the business. State Street Corp boosted its holdings in Phillips Edison & Company, Inc. by 2.3% during the 2nd quarter. State Street Corp now owns 7,349,080 shares of the company’s stock valued at $258,169,000 after acquiring an additional 166,108 shares during the period. Balyasny Asset Management L.P. increased its holdings in shares of Phillips Edison & Company, Inc. by 191.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,869,618 shares of the company’s stock valued at $64,184,000 after acquiring an additional 1,229,186 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Phillips Edison & Company, Inc. by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,759,226 shares of the company’s stock valued at $60,394,000 after acquiring an additional 42,819 shares during the last quarter. Duff & Phelps Investment Management Co. grew its stake in Phillips Edison & Company, Inc. by 11.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,697,608 shares of the company’s stock worth $58,279,000 after buying an additional 174,725 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Phillips Edison & Company, Inc. by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,100,942 shares of the company’s stock worth $37,795,000 after buying an additional 99,167 shares during the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ PECO opened at $40.31 on Friday. Phillips Edison & Company, Inc. has a 1-year low of $32.84 and a 1-year high of $41.07. The business has a 50-day moving average of $39.17 and a 200-day moving average of $37.42. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 43.82, a PEG ratio of 2.15 and a beta of 0.53.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.43). Phillips Edison & Company, Inc. had a net margin of 15.61% and a return on equity of 4.46%. The business had revenue of $190.74 million during the quarter, compared to analysts’ expectations of $184.91 million. During the same period in the prior year, the company posted $0.65 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Phillips Edison & Company, Inc. has set its FY 2026 guidance at 0.790-0.810 EPS. Research analysts expect that Phillips Edison & Company, Inc. will post 2.76 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, August 4th. Investors of record on Wednesday, July 15th will be given a $0.1083 dividend. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, July 15th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 141.30%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PECO shares. UBS Group raised their target price on shares of Phillips Edison & Company, Inc. from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. Morgan Stanley lifted their price objective on Phillips Edison & Company, Inc. from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 21st. Weiss Ratings cut Phillips Edison & Company, Inc. from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Barclays boosted their price target on Phillips Edison & Company, Inc. from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Finally, Evercore reaffirmed an “outperform” rating and issued a $43.00 price objective on shares of Phillips Edison & Company, Inc. in a research report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Phillips Edison & Company, Inc. presently has an average rating of “Hold” and an average price target of $41.43.

About Phillips Edison & Company, Inc.

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.