Natixis Advisors L.P. Purchases New Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Posted by Defense World Staff on Sep 7th, 2023

Natixis Advisors L.P. bought a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,546 shares of the company’s stock, valued at approximately $735,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in Phillips Edison & Company, Inc. by 183.9% during the fourth quarter. Quadrant Capital Group LLC now owns 778 shares of the company’s stock worth $25,000 after acquiring an additional 504 shares during the last quarter. Clearstead Advisors LLC acquired a new stake in Phillips Edison & Company, Inc. during the third quarter worth $25,000. CoreCap Advisors LLC purchased a new position in shares of Phillips Edison & Company, Inc. during the fourth quarter worth $33,000. Silicon Valley Capital Partners purchased a new position in shares of Phillips Edison & Company, Inc. during the fourth quarter worth $35,000. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Phillips Edison & Company, Inc. by 5,000.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,326 shares of the company’s stock worth $42,000 after buying an additional 1,300 shares during the period. Institutional investors and hedge funds own 83.48% of the company’s stock.

Phillips Edison & Company, Inc. Trading Up 2.4 %

NASDAQ:PECO opened at $34.88 on Thursday. Phillips Edison & Company, Inc. has a 12-month low of $27.07 and a 12-month high of $36.46. The firm has a market cap of $4.09 billion, a PE ratio of 75.83, a price-to-earnings-growth ratio of 3.25 and a beta of 0.66. The stock has a fifty day moving average price of $34.56 and a 200 day moving average price of $32.59.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Monday, October 16th will be paid a $0.0975 dividend. The ex-dividend date is Friday, October 13th. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.17 dividend on an annualized basis and a yield of 3.35%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 243.48%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Compass Point raised their price target on Phillips Edison & Company, Inc. from $32.00 to $36.00 in a research report on Thursday, August 3rd. Mizuho raised their price target on Phillips Edison & Company, Inc. from $30.00 to $35.00 in a research report on Thursday, July 20th. Wolfe Research lowered Phillips Edison & Company, Inc. from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 5th. The Goldman Sachs Group lifted their target price on Phillips Edison & Company, Inc. from $39.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Finally, Wells Fargo & Company started coverage on Phillips Edison & Company, Inc. in a report on Tuesday, May 23rd. They issued an “equal weight” rating and a $31.00 target price for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. presently has a consensus rating of “Hold” and an average target price of $35.60.

Get Our Latest Research Report on Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc. Profile

(Free Report)

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.