Synovus Financial Corp Purchases New Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Synovus Financial Corp acquired a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,960 shares of the company’s stock, valued at approximately $376,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. grew its stake in Phillips Edison & Company, Inc. by 160.2% during the 2nd quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock worth $75,000 after buying an additional 1,290 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Phillips Edison & Company, Inc. by 4.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 41,437 shares of the company’s stock valued at $1,359,000 after acquiring an additional 1,776 shares during the period. Atria Wealth Solutions Inc. raised its position in Phillips Edison & Company, Inc. by 2.1% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 72,074 shares of the company’s stock valued at $2,363,000 after purchasing an additional 1,474 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Phillips Edison & Company, Inc. during the 2nd quarter worth $26,000. Finally, Louisiana State Employees Retirement System grew its position in Phillips Edison & Company, Inc. by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 61,600 shares of the company’s stock worth $2,015,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Trading Down 1.9 %

NASDAQ PECO opened at $38.21 on Thursday. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 83.07, a PEG ratio of 3.60 and a beta of 0.57. The business’s 50 day moving average is $38.39 and its two-hundred day moving average is $36.15. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). The business had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 earnings per share. Equities analysts forecast that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be paid a $0.1025 dividend. This is a boost from Phillips Edison & Company, Inc.’s previous dividend of $0.10. The ex-dividend date of this dividend is Monday, December 16th. This represents a dividend yield of 3.13%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 267.39%.

Analyst Ratings Changes

A number of brokerages have recently commented on PECO. Compass Point upped their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Mizuho increased their price objective on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Phillips Edison & Company, Inc. 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.