PNC Financial Services Group Inc. Reduces Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

PNC Financial Services Group Inc. trimmed its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 40.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,025 shares of the company’s stock after selling 3,348 shares during the period. PNC Financial Services Group Inc.’s holdings in Phillips Edison & Company, Inc. were worth $183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of PECO. Natixis Advisors L.P. grew its stake in shares of Phillips Edison & Company, Inc. by 35.3% during the 3rd 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 period. Axxcess Wealth Management LLC boosted its position in Phillips Edison & Company, Inc. by 210.8% during the third quarter. Axxcess Wealth Management LLC now owns 25,110 shares of the company’s stock worth $842,000 after purchasing an additional 17,030 shares during the period. Revisor Wealth Management LLC purchased a new position in shares of Phillips Edison & Company, Inc. in the third quarter worth about $498,000. Silver Oak Securities Incorporated increased its stake in shares of Phillips Edison & Company, Inc. by 1.5% in the third quarter. Silver Oak Securities Incorporated now owns 28,770 shares of the company’s stock worth $965,000 after purchasing an additional 414 shares in the last quarter. Finally, Graham Capital Management L.P. bought a new stake in shares of Phillips Edison & Company, Inc. in the third quarter valued at approximately $492,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ PECO opened at $32.78 on Thursday. The company has a market capitalization of $4.01 billion, a P/E ratio of 71.26, a P/E/G ratio of 3.31 and a beta of 0.56. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $37.92. The company has a fifty day moving average of $32.26 and a 200-day moving average of $34.15.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently declared 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. This represents a $1.17 annualized dividend and a yield of 3.57%. The ex-dividend date is Monday, July 15th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 254.35%.

Wall Street Analyst Weigh In

PECO has been the subject of several analyst reports. Compass Point cut 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 report on Monday, April 29th. Wells Fargo & Company reduced their price target on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating for the company in a research report on Tuesday, May 28th. Mizuho dropped their price objective on 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, Deutsche Bank Aktiengesellschaft cut their target price on 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.