Amalgamated Bank Has $1.36 Million Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Amalgamated Bank cut its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 3.6% in the third quarter, Holdings Channel reports. The firm owned 35,983 shares of the company’s stock after selling 1,345 shares during the period. Amalgamated Bank’s holdings in Phillips Edison & Company, Inc. were worth $1,357,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new position in Phillips Edison & Company, Inc. in the second quarter worth approximately $26,000. V Square Quantitative Management LLC bought a new stake in Phillips Edison & Company, Inc. in the third quarter worth approximately $28,000. Hobbs Group Advisors LLC acquired a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter worth $39,000. PFG Private Wealth Management LLC bought a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter valued at $62,000. Finally, Blue Trust Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 160.2% during the 2nd quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock valued at $75,000 after purchasing an additional 1,290 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PECO shares. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research report on Wednesday. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Mizuho raised their price objective on 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 upped their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.43.

Phillips Edison & Company, Inc. Stock Up 0.2 %

PECO opened at $39.11 on Thursday. The stock’s 50 day moving average price is $37.60 and its two-hundred day moving average price is $34.95. The firm has a market capitalization of $4.79 billion, a P/E ratio of 85.02, a price-to-earnings-growth ratio of 3.58 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.83.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). The company had revenue of $165.50 million during the quarter, compared to the consensus estimate of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. Phillips Edison & Company, Inc.’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the company earned $0.58 earnings per share. As a group, analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a $0.1025 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.14%. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 267.39%.

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.