OLD National Bancorp IN Invests $202,000 in Phillips Edison & Company, Inc. $PECO

OLD National Bancorp IN acquired a new position in Phillips Edison & Company, Inc. (NASDAQ:PECO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,757 shares of the company’s stock, valued at approximately $202,000.

A number of other institutional investors have also made changes to their positions in PECO. GAMMA Investing LLC lifted its position in shares of Phillips Edison & Company, Inc. by 3,539.6% in the first quarter. GAMMA Investing LLC now owns 113,192 shares of the company’s stock worth $4,130,000 after purchasing an additional 110,082 shares in the last quarter. Merit Financial Group LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the first quarter worth $214,000. Park Avenue Securities LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the first quarter worth $210,000. Harbor Capital Advisors Inc. lifted its position in shares of Phillips Edison & Company, Inc. by 4.9% in the first quarter. Harbor Capital Advisors Inc. now owns 75,986 shares of the company’s stock worth $2,773,000 after purchasing an additional 3,521 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the first quarter worth $5,072,000. Institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

NASDAQ:PECO opened at $33.67 on Thursday. Phillips Edison & Company, Inc. has a one year low of $32.40 and a one year high of $40.12. The company has a market cap of $4.23 billion, a P/E ratio of 61.22, a P/E/G ratio of 1.14 and a beta of 0.54. The firm’s fifty day moving average price is $34.51 and its two-hundred day moving average price is $34.99.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.63 by $0.01. Phillips Edison & Company, Inc. had a net margin of 9.91% and a return on equity of 2.64%. The firm had revenue of $173.47 million for the quarter, compared to the consensus estimate of $174.38 million. During the same period in the previous year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. As a group, equities research analysts expect that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 4th. Investors of record on Wednesday, October 15th will be paid a $0.1083 dividend. The ex-dividend date is Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 3.9%. Phillips Edison & Company, Inc.’s dividend payout ratio is 236.36%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays boosted their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Monday. Mizuho lowered their target price on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Phillips Edison & Company, Inc. in a report on Wednesday. Wall Street Zen downgraded shares of Phillips Edison & Company, Inc. from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Phillips Edison & Company, Inc. in a report on Tuesday, September 9th. They set a “buy” rating and a $40.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Hold” and an average price target of $39.17.

Phillips Edison & Company, Inc. Company Profile

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.