Public Sector Pension Investment Board Lowers Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Public Sector Pension Investment Board reduced its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 259,938 shares of the company’s stock after selling 9,400 shares during the period. Public Sector Pension Investment Board owned about 0.21% of Phillips Edison & Company, Inc. worth $9,802,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Phillips Edison & Company, Inc. by 15.5% during the third quarter. Blue Trust Inc. now owns 2,420 shares of the company’s stock worth $91,000 after acquiring an additional 325 shares during the period. Xponance Inc. grew its stake in Phillips Edison & Company, Inc. by 6.3% during the 2nd quarter. Xponance Inc. now owns 7,789 shares of the company’s stock worth $255,000 after purchasing an additional 465 shares in the last quarter. Private Advisor Group LLC increased its holdings in Phillips Edison & Company, Inc. by 6.5% during the 3rd quarter. Private Advisor Group LLC now owns 8,009 shares of the company’s stock worth $302,000 after purchasing an additional 487 shares during the period. Calton & Associates Inc. raised its position in Phillips Edison & Company, Inc. by 1.8% in the 3rd quarter. Calton & Associates Inc. now owns 37,233 shares of the company’s stock valued at $1,404,000 after purchasing an additional 641 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of Phillips Edison & Company, Inc. by 4.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 18,081 shares of the company’s stock valued at $608,000 after buying an additional 699 shares during the period. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on PECO shares. Wolfe Research upgraded shares of 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. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Mizuho raised their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Finally, Compass Point boosted their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $38.43.

Phillips Edison & Company, Inc. Trading Up 0.9 %

Shares of NASDAQ:PECO opened at $39.80 on Friday. The firm has a 50 day simple moving average of $37.84 and a 200-day simple moving average of $35.39. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The company has a market capitalization of $4.88 billion, a PE ratio of 86.52, a P/E/G ratio of 3.65 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced 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 company 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%. Phillips Edison & Company, Inc.’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $0.58 earnings per share. As a group, equities research analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 267.39%.

Phillips Edison & Company, Inc. Company 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.