Sumitomo Mitsui Trust Holdings Inc. Raises Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Sumitomo Mitsui Trust Holdings Inc. increased its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 5.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,943 shares of the company’s stock after purchasing an additional 7,304 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.12% of Phillips Edison & Company, Inc. worth $5,069,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PECO. FMR LLC boosted its holdings in Phillips Edison & Company, Inc. by 4.0% in the third quarter. FMR LLC now owns 4,874,206 shares of the company’s stock worth $163,481,000 after acquiring an additional 186,651 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 2,331.3% during the fourth quarter. International Assets Investment Management LLC now owns 137,201 shares of the company’s stock valued at $5,005,000 after purchasing an additional 131,558 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Phillips Edison & Company, Inc. by 42.1% during the third quarter. Invesco Ltd. now owns 392,637 shares of the company’s stock valued at $13,169,000 after purchasing an additional 116,369 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Phillips Edison & Company, Inc. by 6.6% during the third 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 shares of Phillips Edison & Company, Inc. by 1.9% during the third 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.

Phillips Edison & Company, Inc. Stock Up 0.7 %

Shares of PECO opened at $33.49 on Wednesday. The business has a 50-day simple moving average of $34.70 and a two-hundred day simple moving average of $35.06. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 72.81, a PEG ratio of 3.72 and a beta of 0.55. Phillips Edison & Company, Inc. has a 52 week low of $27.85 and a 52 week high of $37.92.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a $0.0975 dividend. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.17 dividend on an annualized basis and a yield of 3.49%. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 254.35%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PECO. Mizuho raised Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and upped their price target for the company from $35.00 to $37.00 in a report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They issued a “buy” rating and a $41.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their target price on 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. One equities 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’s stock. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. has an average rating of “Hold” and a consensus price target of $38.14.

Phillips Edison & Company, Inc. Company 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.