State of Alaska Department of Revenue Has $4.81 Million Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

State of Alaska Department of Revenue grew its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 128,465 shares of the company’s stock after purchasing an additional 344 shares during the period. State of Alaska Department of Revenue’s holdings in Phillips Edison & Company, Inc. were worth $4,811,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp increased its position in Phillips Edison & Company, Inc. by 0.3% in the 3rd quarter. State Street Corp now owns 7,068,684 shares of the company’s stock valued at $267,289,000 after buying an additional 18,429 shares in the last quarter. Geode Capital Management LLC grew its stake in Phillips Edison & Company, Inc. by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company’s stock valued at $120,347,000 after acquiring an additional 19,205 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Phillips Edison & Company, Inc. by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock valued at $78,977,000 after acquiring an additional 102,519 shares in the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Phillips Edison & Company, Inc. by 50.1% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock worth $55,589,000 after purchasing an additional 492,160 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Phillips Edison & Company, Inc. by 5.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,108,716 shares of the company’s stock worth $41,810,000 after purchasing an additional 56,897 shares in the last quarter. Institutional investors own 80.70% of the company’s stock.

Analyst Upgrades and Downgrades

PECO has been the subject of a number of recent research reports. Mizuho boosted their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Wednesday, November 13th. JPMorgan Chase & Co. dropped their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company decreased their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

Phillips Edison & Company, Inc. Price Performance

PECO opened at $37.32 on Friday. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $40.12. The firm has a market capitalization of $4.58 billion, a P/E ratio of 81.13, a PEG ratio of 3.17 and a beta of 0.58. The company’s 50-day moving average is $37.38 and its 200 day moving average is $37.17.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. On average, equities research analysts expect that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were given a $0.1025 dividend. The ex-dividend date was Monday, December 16th. This represents a yield of 3.13%. This is a boost from Phillips Edison & Company, Inc.’s previous dividend of $0.10. Phillips Edison & Company, Inc.’s payout ratio is currently 267.39%.

About Phillips Edison & Company, Inc.

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.