Janus Henderson Group PLC Reduces Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Janus Henderson Group PLC reduced its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 22.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 586,125 shares of the company’s stock after selling 174,196 shares during the quarter. Janus Henderson Group PLC’s holdings in Phillips Edison & Company, Inc. were worth $22,102,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PECO. HighTower Advisors LLC boosted its holdings in Phillips Edison & Company, Inc. by 26.9% in the third quarter. HighTower Advisors LLC now owns 31,411 shares of the company’s stock valued at $1,191,000 after acquiring an additional 6,666 shares in the last quarter. Holocene Advisors LP boosted its stake in shares of Phillips Edison & Company, Inc. by 24.6% during the 3rd quarter. Holocene Advisors LP now owns 84,828 shares of the company’s stock valued at $3,199,000 after purchasing an additional 16,723 shares in the last quarter. Centiva Capital LP purchased a new position in shares of Phillips Edison & Company, Inc. during the third quarter valued at about $318,000. Beck Capital Management LLC bought a new position in Phillips Edison & Company, Inc. in the third quarter worth about $406,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Phillips Edison & Company, Inc. in the third quarter worth about $241,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Price Performance

PECO opened at $39.27 on Friday. The firm has a market cap of $4.81 billion, a PE ratio of 85.37, a P/E/G ratio of 3.60 and a beta of 0.57. The stock has a 50-day moving average price of $38.02 and a 200-day moving average price of $35.70. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The firm had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. During the same period last year, the firm posted $0.58 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Tuesday, February 18th. Phillips Edison & Company, Inc.’s payout ratio is 267.39%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PECO. Compass Point increased their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Mizuho increased their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Finally, Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Phillips Edison & Company, Inc. has a consensus rating of “Hold” and an average price target of $38.43.

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.