Harbor Capital Advisors Inc. Has $2.54 Million Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Harbor Capital Advisors Inc. grew its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 67.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,686 shares of the company’s stock after buying an additional 31,189 shares during the period. Harbor Capital Advisors Inc. owned 0.06% of Phillips Edison & Company, Inc. worth $2,541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PECO. Vanguard Group Inc. raised its holdings in Phillips Edison & Company, Inc. by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after purchasing an additional 577,445 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Phillips Edison & Company, Inc. by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,872,476 shares of the company’s stock worth $68,308,000 after acquiring an additional 145,078 shares in the last quarter. Norges Bank bought a new position in shares of Phillips Edison & Company, Inc. during the 4th quarter worth approximately $48,562,000. Cetera Investment Advisers raised its stake in Phillips Edison & Company, Inc. by 240.9% during the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after buying an additional 826,891 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Phillips Edison & Company, Inc. by 33.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 918,665 shares of the company’s stock valued at $33,513,000 after purchasing an additional 232,191 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on PECO. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. Compass Point dropped their target price on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. Wells Fargo & Company reduced their target price on shares of Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating on the stock in a report on Tuesday, May 28th. Finally, Mizuho decreased their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Hold” and a consensus target price of $37.43.

Phillips Edison & Company, Inc. Trading Up 0.3 %

Shares of NASDAQ PECO traded up $0.10 during midday trading on Wednesday, reaching $34.76. The company had a trading volume of 228,006 shares, compared to its average volume of 669,976. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $37.92. The business’s 50-day simple moving average is $33.05 and its 200 day simple moving average is $33.79. The stock has a market cap of $4.25 billion, a P/E ratio of 75.35, a P/E/G ratio of 3.35 and a beta of 0.56.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The firm had revenue of $161.52 million for the quarter, compared to analyst estimates of $156.29 million. During the same period in the previous year, the firm posted $0.59 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. Analysts predict that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current year.

Phillips Edison & Company, Inc. Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be issued a $0.097 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 3.35%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 254.35%.

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.