Sigma Planning Corp Lowers Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Sigma Planning Corp trimmed its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 9.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 18,282 shares of the company’s stock after selling 1,993 shares during the quarter. Sigma Planning Corp’s holdings in Phillips Edison & Company, Inc. were worth $689,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PECO. V Square Quantitative Management LLC acquired a new position in Phillips Edison & Company, Inc. in the 3rd quarter valued at about $28,000. 1620 Investment Advisors Inc. acquired a new position in shares of Phillips Edison & Company, Inc. in the second quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Phillips Edison & Company, Inc. during the second quarter worth $39,000. PFG Private Wealth Management LLC acquired a new position in shares of Phillips Edison & Company, Inc. during the second quarter worth about $62,000. Finally, Blue Trust Inc. raised its holdings in Phillips Edison & Company, Inc. by 160.2% during the second quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock worth $75,000 after purchasing an additional 1,290 shares in the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Wall Street Analysts Forecast Growth

PECO has been the topic of a number of analyst reports. Mizuho lifted their price target 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. Compass Point increased their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Finally, 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 for the company in a report on Wednesday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Phillips Edison & Company, Inc. has a consensus rating of “Hold” and a consensus price target of $38.43.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ:PECO opened at $38.74 on Friday. The business’s fifty day moving average price is $37.63 and its two-hundred day moving average price is $34.98. The stock has a market cap of $4.75 billion, a PE ratio of 84.22, a price-to-earnings-growth ratio of 3.58 and a beta of 0.57. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $39.83.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The company had revenue of $165.50 million for the quarter, compared to analysts’ expectations of $157.20 million. During the same quarter in the prior year, the business posted $0.58 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities research analysts predict that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.’s payout ratio is 267.39%.

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.