In its recent filing with the Securities and Exchange Commission, Beck Capital Management LLC announced that it has reduced its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 4.6% during the first quarter. The institutional investor now owns 86,341 shares of the company’s stock after selling 4,155 shares in this period. Although Beck Capital Management LLC’s investment portfolio includes various stocks, Phillips Edison & Company, Inc. constitutes only 1.2% of its holdings currently, making it the 24th largest position held by the firm. It is estimated that this stake in Phillips Edison & Company, Inc. has a value of $2,816,000 as of September 10th.
Established in 1991, Phillips Edison & Company (PECO) has established itself as one of the leading owners and operators of omni-channel grocery-anchored shopping centers across the United States. Throughout its existence, PECO has consistently delivered strong performance due to its vertically-integrated operating platform and expansive national presence comprising well-occupied shopping centers.
PECO recently announced its decision to pay a monthly dividend to its shareholders on November 1st. Investors who hold the company’s stock on record as of October 16th will receive a dividend of $0.0975 per share. However, those shares bought or sold on or after October 13th will not be eligible for this dividend payment as per PECO’s ex-dividend date policy.
This new dividend offering represents an increase from Phillips Edison & Company, Inc.’s previous monthly dividend amounting to $0.10 per share. The annualized dividend totals to $1.17 overall with a corresponding dividend yield standing at around 3.33%. It is worth noting that PECO’s payout ratio currently sits at 243.48%, signifying that it pays out more money in dividends than its net income.
This recent development in Phillips Edison & Company, Inc.’s dividend policy could potentially attract investors seeking consistent income through dividends. The decision to boost the monthly payout provides shareholders with an increased return on their investment and may serve as a positive indication of the company’s financial health.
As always, investors should conduct thorough research and consult with financial professionals before making any investment decisions. Factors such as market conditions, industry trends, and individual risk tolerance should be carefully considered when evaluating potential investments.
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Investor Activity and Analyst Ratings Boost Confidence in Phillips Edison & Company, Inc. (PECO)
Phillips Edison & Company, Inc. (PECO) has been the subject of recent activity by large investors looking to modify their holdings in the company. Raymond James & Associates purchased a new position in PECO during the first quarter, investing approximately $935,000. Bank of New York Mellon Corp increased its stake in PECO by 395.2% during the same period, now owning over 460,000 shares worth $15.9 million.
HighTower Advisors LLC also saw a significant increase in its stake in PECO during the first quarter, with an additional 11,301 shares valued at $733,000. Citigroup Inc. followed suit with a 7.6% increase in its stake and acquisition of 3,775 additional shares worth $1.8 million. PNC Financial Services Group Inc. rounded out the investor activity by purchasing a new position in PECO worth around $99,000.
Hedge funds and other institutional investors currently own approximately 83.48% of PECO’s stock. This demonstrates a high level of confidence among these investors in the company’s performance and potential for growth.
On September 10th, PECO’s stock traded at $35.15 per share during mid-day trading, experiencing a slight increase of $0.12 compared to previous trading sessions. The trading volume amounted to 570,853 shares, surpassing the average volume of 496,486 shares.
With a market capitalization of $4.13 billion and a PE ratio of 76.41, it is clear that PECO holds significant value for shareholders and investors alike.The stock’s fifty-day moving average price stands at $34.63 while its two-hundred day moving average price is slightly lower at $32.62.
Established in 1991, Phillips Edison & Company operates as one of the largest owners and operators of omni-channel grocery-anchored shopping centers in the United States. Its success lies in its vertically-integrated operating platform and extensive national footprint of highly occupied shopping centers.
Various equities analysts have provided their insights on PECO. Wolfe Research downgraded the company’s rating from “outperform” to “peer perform,” while The Goldman Sachs Group increased their price objective for the stock from $39.00 to $44.00, giving it a “buy” rating. Wells Fargo & Company initiated coverage on PECO with an “equal weight” rating and a price objective of $31.00. Compass Point lifted the price objective for PECO from $32.00 to $36.00, and Mizuho raised theirs from $30.00 to $35.00.
In conclusion, PECO continues to attract attention from large investors who have modified their holdings in the company, contributing to its success as one of the nation’s largest owners and operators of grocery-anchored shopping centers. With positive analyst ratings and steady stock performance, PECO may offer a favorable investment opportunity for those looking to enter or expand their positions in this sector of the market.
