JPMorgan Chase & Co. Decreases Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

JPMorgan Chase & Co. decreased its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 1.4% in the third quarter, Holdings Channel reports. The firm owned 1,131,368 shares of the company’s stock after selling 16,214 shares during the quarter. JPMorgan Chase & Co.’s holdings in Phillips Edison & Company, Inc. were worth $42,664,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in Phillips Edison & Company, Inc. in the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new stake in Phillips Edison & Company, Inc. during the 3rd quarter valued at $36,000. Blue Trust Inc. lifted its holdings in shares of Phillips Edison & Company, Inc. by 15.5% during the 3rd quarter. Blue Trust Inc. now owns 2,420 shares of the company’s stock valued at $91,000 after buying an additional 325 shares during the period. GAMMA Investing LLC boosted its stake in shares of Phillips Edison & Company, Inc. by 31.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,330 shares of the company’s stock worth $126,000 after buying an additional 803 shares during the last quarter. Finally, Tsfg LLC bought a new position in Phillips Edison & Company, Inc. in the third quarter valued at about $127,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Trading Up 1.5 %

Phillips Edison & Company, Inc. stock opened at $37.49 on Monday. 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 $4.60 billion, a price-to-earnings ratio of 81.50, a P/E/G ratio of 3.60 and a beta of 0.57. The firm has a 50 day moving average of $38.61 and a 200 day moving average of $36.68.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $165.50 million for the quarter, compared to the consensus estimate of $157.20 million. During the same quarter in the previous year, the business earned $0.58 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were given a $0.1025 dividend. This represents a dividend yield of 3.13%. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10. The ex-dividend date was Monday, December 16th. Phillips Edison & Company, Inc.’s payout ratio is presently 267.39%.

Wall Street Analyst Weigh In

PECO has been the subject of a number of recent research reports. Wolfe Research upgraded 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 note on Wednesday, November 13th. Compass Point increased their price target on shares of 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. Finally, Mizuho lifted their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $39.00.

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.