Ignite Planners LLC Trims Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Ignite Planners LLC lowered its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 7.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,064 shares of the company’s stock after selling 1,054 shares during the period. Ignite Planners LLC’s holdings in Phillips Edison & Company, Inc. were worth $458,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PECO. Norges Bank bought a new position in Phillips Edison & Company, Inc. during the 4th quarter worth approximately $48,562,000. GRS Advisors LLC bought a new position in Phillips Edison & Company, Inc. during the 4th quarter worth approximately $26,042,000. Vanguard Group Inc. lifted its holdings in Phillips Edison & Company, Inc. by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 18,759,585 shares of the company’s stock worth $684,350,000 after buying an additional 266,832 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Phillips Edison & Company, Inc. by 33.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 918,665 shares of the company’s stock worth $33,513,000 after buying an additional 232,191 shares during the last quarter. Finally, FMR LLC lifted its holdings in Phillips Edison & Company, Inc. by 4.0% during the 3rd quarter. FMR LLC now owns 4,874,206 shares of the company’s stock worth $163,481,000 after buying an additional 186,651 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PECO. Wells Fargo & Company reduced their target price on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating on the stock in a report on Tuesday, May 28th. Compass Point dropped their price target on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft dropped their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Finally, Mizuho lowered their target price on Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of “Hold” and an average price target of $37.43.

Phillips Edison & Company, Inc. Stock Up 0.2 %

Shares of Phillips Edison & Company, Inc. stock opened at $32.50 on Tuesday. The stock has a market cap of $3.98 billion, a PE ratio of 70.65, a price-to-earnings-growth ratio of 3.28 and a beta of 0.56. The business has a fifty day simple moving average of $32.30 and a 200-day simple moving average of $34.32. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $37.92.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be given a $0.0975 dividend. The ex-dividend date is Monday, July 15th. This represents a $1.17 annualized dividend and a dividend yield of 3.60%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 254.35%.

About Phillips Edison & Company, Inc.

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.