Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,182 shares of the company’s stock after purchasing an additional 2,679 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Phillips Edison & Company, Inc. were worth $2,451,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC grew its stake in Phillips Edison & Company, Inc. by 4.0% in the 3rd quarter. FMR LLC now owns 4,874,206 shares of the company’s stock valued at $163,481,000 after acquiring an additional 186,651 shares during the last quarter. International Assets Investment Management LLC grew its stake in Phillips Edison & Company, Inc. by 2,331.3% in the 4th quarter. International Assets Investment Management LLC now owns 137,201 shares of the company’s stock valued at $5,005,000 after acquiring an additional 131,558 shares during the last quarter. Invesco Ltd. grew its stake in Phillips Edison & Company, Inc. by 42.1% in the 3rd quarter. Invesco Ltd. now owns 392,637 shares of the company’s stock valued at $13,169,000 after acquiring an additional 116,369 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Phillips Edison & Company, Inc. by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,727,398 shares of the company’s stock valued at $57,937,000 after purchasing an additional 107,214 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Phillips Edison & Company, Inc. by 1.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,207,617 shares of the company’s stock valued at $174,663,000 after purchasing an additional 99,383 shares in the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Stock Down 0.9 %

Shares of NASDAQ:PECO opened at $32.93 on Friday. Phillips Edison & Company, Inc. has a 52-week low of $27.85 and a 52-week high of $37.92. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 71.59, a price-to-earnings-growth ratio of 3.74 and a beta of 0.55. The company has a 50 day moving average of $34.63 and a two-hundred day moving average of $35.04.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a dividend of $0.0975 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.55%. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 254.35%.

Analyst Ratings Changes

PECO has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Mizuho upgraded shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $35.00 to $37.00 in a report on Friday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday, January 30th. They set a “buy” rating and a $41.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.14.

Phillips Edison & Company, Inc. Profile

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.