Brookstone Capital Management, a reputable investment firm, recently decided to increase its position in shares of Phillips Edison & Company, Inc. (PECO). According to a filing with the Securities & Exchange Commission, the firm purchased an additional 4,273 shares of PECO during the second quarter, resulting in an 8.1% increase in their overall position. As a result, Brookstone Capital Management now holds 56,843 shares of PECO’s stock, valued at approximately $1,882,000.
Phillips Edison & Company, Inc., commonly referred to as PECO, is a prominent entity in the real estate industry and is known for being one of the nation’s largest owners and operators of omni-channel grocery-anchored shopping centers. Since its inception in 1991, PECO has consistently delivered impressive results through its vertically-integrated operating platform and extensive network of well-occupied shopping centers located throughout the country.
In addition to these developments, PECO recently announced that it will be distributing a monthly dividend on Wednesday, November 1st. Shareholders who are registered as of Monday, October 16th will receive a dividend payment of $0.0975 per share. This amount translates to an annualized dividend of $1.17 and yields approximately 3.36% when compared to the current market price of PECO’s stock. It is worth noting that this latest dividend represents an increase from PECO’s previous monthly payout which stood at $0.10 per share.
Furthermore, investors should take note that the ex-dividend date for this upcoming distribution is Friday, October 13th. This means that anyone who purchases shares after this date will not be eligible to receive this particular dividend payment.
The data suggests that Phillips Edison & Company Inc.’s dividend payout ratio currently stands at a staggering 254.35%, indicating that they are paying out more than double their earnings in the form of dividends. This may signal that the company is confident in its ability to generate consistent cash flow to sustain its dividend payouts.
Ultimately, these recent developments surrounding Brookstone Capital Management’s increased position and PECO’s dividend announcement serve as noteworthy factors for investors to consider. As always, it is crucial to conduct thorough research and consult with a financial advisor before making any investment decisions.
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Investor Activity and Analyst Perspectives on Phillips Edison & Company, Inc.
In recent months, there has been considerable activity surrounding Phillips Edison & Company, Inc. with several large investors making significant moves in relation to the company’s shares. This activity has caught the attention of analysts and market watchers alike.
One noteworthy investor is the Maryland State Retirement & Pension System, which acquired a new position in Phillips Edison & Company, Inc. during the second quarter of this year. The value of their investment amounted to $1,557,000. Similarly, Clarus Wealth Advisors purchased a new position in the company’s shares during the same period, with a value of approximately $207,000.
Furthermore, Oliver Lagore Vanvalin Investment Group saw a substantial increase in its holdings of Phillips Edison & Company, Inc. by 115.2% during the first quarter of this year. The investment group now owns 14,173 shares of the company’s stock valued at $462,000 after purchasing an additional 7,586 shares during that time.
Another significant investor is Macquarie Group Ltd., which boosted its stake in Phillips Edison & Company, Inc. by 0.6% in the first quarter. Their current ownership stands at 178,014 shares worth $5,840,000 after acquiring an additional 1,129 shares during that period.
Lastly, Empower Advisory Group LLC entered the scene by acquiring a new stake in Phillips Edison & Company, Inc. during the first quarter of this year with an estimated value of about $304k.
Overall ownership and investments made by hedge funds and institutional investors account for approximately 83.48% of all outstanding company stock according to data compiled by Bloomberg.
On September 20th this year (reference date), NASDAQ-listed Phillips Edison & Company had its stocks open at $34.78 per share. Tracking trends over time reveals that the firm has experienced a fifty-day moving average price of $34.79 and a two-hundred-day moving average price of $32.66. As a result, the company has amassed a market capitalization of $4.08 billion, with a price-earnings ratio of 75.61 and a price/earnings-to-growth (PEG) ratio of 3.31. Its beta stands at 0.66.
Founded in 1991, Phillips Edison & Company, Inc., commonly referred to as PECO, operates as one of the largest owners and operators of omnichannel grocery-anchored shopping centers in the United States. It distinguishes itself through its vertically-integrated operating platform and well-occupied shopping centers spread across the country.
Various research analysts have provided insights into PECO’s performance. Wells Fargo & Company issued an “equal weight” rating for Phillips Edison & Company, Inc., along with a target stock price of $31 per share in their report on May 23rd this year. The Goldman Sachs Group also presented a positive outlook for the company by increasing its target price from $39 to $44 per share and classifying it as a “buy” stock in their report on August 8th.
However, not all analysts maintain such favorable opinions regarding Phillips Edison & Company, Inc.’s future prospects. For example, Wolfe Research lowered its rating from “outperform” to “peer perform” on July 5th this year. Nonetheless, Compass Point raised their target price on Phillips Edison & Company, Inc.’s shares from $32 to $36 per share on August 3rd.
With these varied opinions in mind, it is interesting to note that according to Bloomberg’s data analysis, three investment analysts rate the stock as a hold while two others recommend buying shares in the company at present time based on their assessment of its potential growth. Taking into account all these differing perspectives, the average rating assigned by analysts is deemed as “Hold” by the market. The current consensus price target for Phillips Edison & Company, Inc.’s stock is predicted to be around $35.80.
For additional information and more detailed analysis on Phillips Edison & Company, Inc., please refer to our latest report.
