Mitsubishi UFJ Asset Management Co. Ltd. Acquires 2,423 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,675 shares of the company’s stock after purchasing an additional 2,423 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of Phillips Edison & Company, Inc. worth $3,025,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new position in Phillips Edison & Company, Inc. in the third quarter valued at about $36,000. Allworth Financial LP increased its stake in shares of Phillips Edison & Company, Inc. by 94.6% in the 4th quarter. Allworth Financial LP now owns 1,621 shares of the company’s stock valued at $58,000 after acquiring an additional 788 shares during the last quarter. Blue Trust Inc. raised its position in shares of Phillips Edison & Company, Inc. by 24.9% in the 4th quarter. Blue Trust Inc. now owns 3,023 shares of the company’s stock valued at $113,000 after acquiring an additional 603 shares during the period. Eukles Asset Management bought a new position in Phillips Edison & Company, Inc. during the 4th quarter worth approximately $156,000. Finally, KBC Group NV grew its holdings in Phillips Edison & Company, Inc. by 13.4% during the fourth quarter. KBC Group NV now owns 4,424 shares of the company’s stock valued at $166,000 after purchasing an additional 522 shares during the period. 80.70% of the stock is owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Price Performance

PECO opened at $36.86 on Wednesday. The business’s 50-day moving average price is $36.12 and its two-hundred day moving average price is $37.23. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 73.72, a P/E/G ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. Sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.1025 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.34%. Phillips Edison & Company, Inc.’s dividend payout ratio is 246.00%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PECO shares. Mizuho cut their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price objective on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company decreased their target price on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.83.

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.