The Vanguard Group, Inc. recently announced the acquisition of new stake in Phillips Edison & Company Inc. (NASDAQ:PECO). The institutional investor has increased its shareholding in the Real Estate company by 1.12% to 16.69 million shares with purchase of 0.19 million shares. This fresh investment now brings its stake to 14.23% valued currently at $526.52 million. In addition, Massachusetts Financial Services raised its holdings by 19243.0 to 5.93 million shares. And SSgA Funds Management, Inc. has lifted its position by 2.39% or 0.11 million shares – to 4.64 million shares.
With over 2.15 million Phillips Edison & Company Inc. (PECO) shares trading Monday and a closing price of $29.67 on the day, the dollar volume was approximately $63.72 million. The shares have shown a negative half year performance of -4.54% and its price on 05/22/23 gained nearly 2.42%. Currently, there are 117.22M common shares owned by the public and among those 116.61M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for PECO have a consensus price objective of $35.50. The analysts have set the share’s price value over the next 12 months at a high of $41.00 and a low of $32.00. The average price target is 19.81% above its recent price level and an upside to the estimated low will see the stock gain 7.28% over that period. But an upside of 27.63% will see the stock hit the forecast high price target while median target price for the stock is $34.50.
Insiders at the company have transacted a total of 15 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 9 of these insider trades were purchases, accounting for 28,171 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 11,999 shares.
The top 3 mutual fund holders in Phillips Edison & Company Inc. are Vanguard Real Estate Index Fund, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. Vanguard Real Estate Index Fund owns 5.16 million shares of the company’s stock, all valued at over $162.71 million. The company sold 44124.0 shares recently to bring their total holdings to about 4.40% of the shares outstanding. Vanguard Total Stock Market ETF bought 64791.0 shares to see its total holdings expand to 3.62 million shares valued at over $114.2 million and representing 3.09% of the shares outstanding. Vanguard Small Cap Index Fund bought 17400.0 shares to bring its total holdings to over 3.07 million shares at a value of $96.82 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.62% of the shares outstanding.
However, the script later moved the day high at 29.78, up 2.42%. The company’s stock has a 5-day price change of -0.27% and -11.06% over the past three months. PECO shares are trading -6.82% year to date (YTD), with the 12-month market performance down to -9.93% lower. It has a 12-month low price of $27.07 and touched a high of $35.90 over the same period. PECO has an average intraday trading volume of 576.39K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.74%, -4.07%, and -6.40% respectively.
Institutional ownership of Phillips Edison & Company Inc. (NASDAQ: PECO) shares accounts for 71.80% of the company’s 117.22M shares outstanding. Mutual fund holders own 29.69%, while other institutional holders and individual stakeholders account for 41.99% and 0.54% respectively.
It has a market capitalization of $3.49B. The stock’s trailing 12-month PE ratio is 62.99, while the earnings-per-share (ttm) stands at $0.47. The company has a PEG of 6.85 and the debt-to-equity ratio at 0.89. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.95% over the week and 2.35% over the month.
Analysts forecast that Phillips Edison & Company Inc. (PECO) will achieve an EPS of $0.1 for the current quarter, $0.11 for the next quarter and $0.45 for 2024. The lowest estimate earnings-per-share for the quarter is $0.07 while analysts give the company a high EPS estimate of $0.14. Comparatively, EPS for the current quarter was $0.12 a year ago. Earnings per share for the fiscal year are expected to increase by 183.30%, and 2.95% over the next financial year. EPS should shrink at an annualized rate of 9.20% over the next five years, compared to 21.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Phillips Edison & Company Inc. (PECO) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 5 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
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