State of Alaska Department of Revenue Sells 20,576 Shares of Phillips Edison & Company, Inc. $PECO

State of Alaska Department of Revenue decreased its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 18.4% during the third quarter, HoldingsChannel.com reports. The firm owned 90,989 shares of the company’s stock after selling 20,576 shares during the period. State of Alaska Department of Revenue’s holdings in Phillips Edison & Company, Inc. were worth $3,396,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. CX Institutional grew its holdings in Phillips Edison & Company, Inc. by 115.5% during the 2nd quarter. CX Institutional now owns 724 shares of the company’s stock valued at $30,000 after buying an additional 388 shares in the last quarter. Western Wealth Management LLC bought a new stake in shares of Phillips Edison & Company, Inc. during the first quarter valued at about $29,000. Global Assets Advisory LLC bought a new stake in shares of Phillips Edison & Company, Inc. during the first quarter valued at about $52,000. Anchor Investment Management LLC purchased a new stake in shares of Phillips Edison & Company, Inc. in the first quarter worth about $80,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in shares of Phillips Edison & Company, Inc. in the first quarter worth about $80,000. Institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO stock opened at $38.21 on Friday. The company has a market capitalization of $4.92 billion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 1.94 and a beta of 0.52. Phillips Edison & Company, Inc. has a 52-week low of $33.10 and a 52-week high of $44.38. The business’s fifty day moving average is $38.47 and its 200 day moving average is $39.87.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, July 23rd. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.35). The business had revenue of $189.62 million for the quarter, compared to analysts’ expectations of $187.46 million. Phillips Edison & Company, Inc. had a return on equity of 5.52% and a net margin of 19.14%. Phillips Edison & Company, Inc.’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Phillips Edison & Company, Inc. has set its FY 2026 guidance at 0.950-0.970 EPS. On average, sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.77 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be given a dividend of $0.1150 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, November 16th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 120.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. UBS Group cut their price objective on shares of Phillips Edison & Company, Inc. from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, October 9th. Griffin Securities set a $44.00 price objective on shares of Phillips Edison & Company, Inc. in a research note on Monday, September 21st. Barclays decreased their target price on shares of Phillips Edison & Company, Inc. from $46.00 to $43.00 and set an “equal weight” rating on the stock in a report on Monday, September 28th. Morgan Stanley increased their target price on shares of Phillips Edison & Company, Inc. from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. Finally, Evercore reiterated an “outperform” rating on shares of Phillips Edison & Company, Inc. in a research note on Monday, September 21st. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. presently has an average rating of “Hold” and an average target price of $43.30.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc is a real estate investment trust (REIT) that owns, operates and develops grocery-anchored shopping centers in the United States. Its properties are designed to serve everyday consumer needs and typically include grocery stores alongside restaurants, service businesses, retailers and other neighborhood-oriented tenants.

The company focuses on acquiring and managing shopping centers located in communities with favorable demographic and economic characteristics.