Illinois Municipal Retirement Fund Grows Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Illinois Municipal Retirement Fund increased its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,182 shares of the company’s stock after purchasing an additional 2,679 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.06% of Phillips Edison & Company, Inc. worth $2,451,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. ClariVest Asset Management LLC lifted its holdings in Phillips Edison & Company, Inc. by 73,077.5% during the 3rd quarter. ClariVest Asset Management LLC now owns 29,271 shares of the company’s stock valued at $981,000 after buying an additional 29,231 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Phillips Edison & Company, Inc. by 36.9% in the 3rd quarter. LPL Financial LLC now owns 348,035 shares of the company’s stock valued at $11,673,000 after purchasing an additional 93,719 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Phillips Edison & Company, Inc. by 54.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 78,593 shares of the company’s stock valued at $2,636,000 after purchasing an additional 27,641 shares in the last quarter. FMR LLC raised its holdings in shares of Phillips Edison & Company, Inc. by 4.0% in the 3rd quarter. FMR LLC now owns 4,874,206 shares of the company’s stock valued at $163,481,000 after purchasing an additional 186,651 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Phillips Edison & Company, Inc. by 7.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 294,243 shares of the company’s stock valued at $10,905,000 after purchasing an additional 21,481 shares in the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PECO shares. JPMorgan Chase & Co. reduced their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Mizuho upgraded shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and boosted their price target for the company from $35.00 to $37.00 in a report on Friday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Phillips Edison & Company, Inc. in a research note on Tuesday, January 30th. They set a “buy” rating and a $41.00 price objective for the company. One 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $38.14.

Phillips Edison & Company, Inc. Stock Down 0.9 %

NASDAQ PECO opened at $32.93 on Friday. The firm has a market cap of $4.02 billion, a PE ratio of 71.59, a price-to-earnings-growth ratio of 3.74 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. The company has a 50 day moving average price of $34.63 and a 200 day moving average price of $35.04.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a dividend of $0.0975 per share. This represents a $1.17 annualized dividend and a yield of 3.55%. The ex-dividend date is Friday, April 12th. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s payout ratio is currently 254.35%.

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.