Bank of New York Mellon Corp Boosts Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Bank of New York Mellon Corp lifted its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,106,277 shares of the company’s stock after acquiring an additional 27,611 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.90% of Phillips Edison & Company, Inc. worth $36,186,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. NBC Securities Inc. grew its position in Phillips Edison & Company, Inc. by 11.6% in the 4th quarter. NBC Securities Inc. now owns 9,670 shares of the company’s stock worth $352,000 after purchasing an additional 1,003 shares in the last quarter. GRS Advisors LLC bought a new position in shares of Phillips Edison & Company, Inc. in the fourth quarter valued at approximately $26,042,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Phillips Edison & Company, Inc. during the first quarter valued at approximately $607,000. Harbor Capital Advisors Inc. lifted its holdings in Phillips Edison & Company, Inc. by 67.1% during the second quarter. Harbor Capital Advisors Inc. now owns 77,686 shares of the company’s stock worth $2,541,000 after acquiring an additional 31,189 shares during the period. Finally, Cetera Investment Advisers boosted its position in Phillips Edison & Company, Inc. by 240.9% in the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after purchasing an additional 826,891 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Up 0.6 %

Shares of NASDAQ:PECO opened at $36.96 on Tuesday. The firm has a market capitalization of $4.52 billion, a PE ratio of 80.35, a P/E/G ratio of 3.51 and a beta of 0.56. The company has a 50-day moving average price of $34.49 and a two-hundred day moving average price of $33.86. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $37.92.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The business had revenue of $161.52 million during the quarter, compared to the consensus estimate of $156.29 million. During the same period last year, the business posted $0.59 earnings per share. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts anticipate that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be paid a dividend of $0.097 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.15%. Phillips Edison & Company, Inc.’s payout ratio is 254.35%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PECO shares. Mizuho lifted their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $37.33.

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.