RFG Advisory LLC Invests $263,000 in Phillips Edison & Company, Inc. (NASDAQ:PECO)

RFG Advisory LLC acquired a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,341 shares of the company’s stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC increased its position in shares of Phillips Edison & Company, Inc. by 6.7% during the third quarter. HighTower Advisors LLC now owns 23,887 shares of the company’s stock worth $800,000 after purchasing an additional 1,491 shares in the last quarter. Invesco Ltd. increased its position in Phillips Edison & Company, Inc. by 42.1% during the 3rd quarter. Invesco Ltd. now owns 392,637 shares of the company’s stock valued at $13,169,000 after buying an additional 116,369 shares in the last quarter. LPL Financial LLC raised its stake in Phillips Edison & Company, Inc. by 36.9% in the third quarter. LPL Financial LLC now owns 348,035 shares of the company’s stock valued at $11,673,000 after buying an additional 93,719 shares during the last quarter. Northern Trust Corp boosted its holdings in Phillips Edison & Company, Inc. by 1.5% in the third quarter. Northern Trust Corp now owns 1,376,392 shares of the company’s stock worth $46,164,000 after acquiring an additional 20,461 shares in the last quarter. Finally, Natixis Advisors L.P. grew its stake in shares of Phillips Edison & Company, Inc. by 35.3% during the third quarter. Natixis Advisors L.P. now owns 28,121 shares of the company’s stock worth $943,000 after acquiring an additional 7,337 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

Shares of Phillips Edison & Company, Inc. stock opened at $32.24 on Wednesday. The stock has a market cap of $3.95 billion, a PE ratio of 70.09, a price-to-earnings-growth ratio of 3.28 and a beta of 0.56. The firm has a fifty day moving average price of $32.30 and a 200 day moving average price of $34.30. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $37.92.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be paid a dividend of $0.0975 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.63%. Phillips Edison & Company, Inc.’s payout ratio is currently 254.35%.

Analyst Upgrades and Downgrades

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

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.