Fmr LLC Lowers Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Fmr LLC lessened its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 6.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,640,375 shares of the company’s stock after selling 184,119 shares during the period. Fmr LLC owned about 2.15% of Phillips Edison & Company, Inc. worth $99,569,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter valued at $28,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Phillips Edison & Company, Inc. in the 2nd quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Phillips Edison & Company, Inc. during the second quarter worth about $39,000. PFG Private Wealth Management LLC acquired a new stake in shares of Phillips Edison & Company, Inc. during the second quarter worth about $62,000. Finally, Blue Trust Inc. lifted its position in shares of 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.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ:PECO opened at $39.18 on Thursday. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The firm has a market capitalization of $4.80 billion, a P/E ratio of 85.17, a P/E/G ratio of 3.61 and a beta of 0.57. The company’s fifty day moving average price is $37.92 and its 200 day moving average price is $35.60.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its earnings results 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 net margin of 9.03% and a return on equity of 2.22%. The business had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. During the same period in the previous year, the company posted $0.58 earnings per share. Phillips Edison & Company, Inc.’s quarterly revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The business 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 dividend of $0.1025 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a yield of 3.14%. Phillips Edison & Company, Inc.’s payout ratio is 267.39%.

Analysts Set New Price Targets

Several brokerages have commented on PECO. 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 company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research report on Wednesday, November 13th. Mizuho raised their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Finally, Compass Point raised their price objective 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. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $38.43.

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.