AQR Capital Management LLC Sells 5,339 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

AQR Capital Management LLC trimmed its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 38.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,474 shares of the company’s stock after selling 5,339 shares during the quarter. AQR Capital Management LLC’s holdings in Phillips Edison & Company, Inc. were worth $277,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Cetera Investment Advisers grew its stake in shares of Phillips Edison & Company, Inc. by 240.9% during the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after acquiring an additional 826,891 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Phillips Edison & Company, Inc. by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after acquiring an additional 577,445 shares in the last quarter. Cetera Advisors LLC grew its stake in shares of Phillips Edison & Company, Inc. by 60.4% during the 1st quarter. Cetera Advisors LLC now owns 791,147 shares of the company’s stock worth $28,378,000 after acquiring an additional 297,945 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Phillips Edison & Company, Inc. by 16.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock worth $40,911,000 after acquiring an additional 179,775 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Phillips Edison & Company, Inc. by 15,338.0% during the 1st quarter. Public Employees Retirement System of Ohio now owns 175,376 shares of the company’s stock worth $6,291,000 after acquiring an additional 174,240 shares in the last quarter. 80.70% of the stock is owned by institutional investors.

Phillips Edison & Company, Inc. Price Performance

Shares of Phillips Edison & Company, Inc. stock opened at $37.26 on Thursday. The business has a fifty day simple moving average of $36.79 and a two-hundred day simple moving average of $34.34. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $39.08. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 81.00, a P/E/G ratio of 3.43 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The business had revenue of $161.52 million for the quarter, compared to analyst estimates of $156.29 million. During the same period in the prior year, the business earned $0.59 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.1025 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.30%. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 267.39%.

Analyst Ratings Changes

PECO has been the subject of several research reports. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Mizuho raised their target price on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, Compass Point raised their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $37.50.

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.