Everence Capital Management Inc. Sells 7,790 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Everence Capital Management Inc. cut its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 56.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,910 shares of the company’s stock after selling 7,790 shares during the period. Everence Capital Management Inc.’s holdings in Phillips Edison & Company, Inc. were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in PECO. Brass Tax Wealth Management Inc. bought a new stake in shares of Phillips Edison & Company, Inc. in the third quarter valued at about $378,000. Synovus Financial Corp bought a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter valued at about $376,000. Arete Wealth Advisors LLC lifted its position in shares of Phillips Edison & Company, Inc. by 3.1% in the 3rd quarter. Arete Wealth Advisors LLC now owns 28,392 shares of the company’s stock worth $1,064,000 after purchasing an additional 866 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in shares of Phillips Edison & Company, Inc. by 3.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 109,531 shares of the company’s stock worth $4,131,000 after purchasing an additional 3,797 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Phillips Edison & Company, Inc. by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company’s stock valued at $120,347,000 after purchasing an additional 19,205 shares in the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on PECO. JPMorgan Chase & Co. reduced their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday. Mizuho boosted their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Finally, Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips Edison & Company, Inc. has an average rating of “Moderate Buy” and an average price target of $39.50.

Phillips Edison & Company, Inc. Trading Up 0.4 %

Shares of PECO stock opened at $36.60 on Thursday. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12. The business’s fifty day simple moving average is $38.58 and its 200-day simple moving average is $36.73. The company has a market cap of $4.49 billion, a PE ratio of 79.57, a PEG ratio of 3.60 and a beta of 0.59.

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

Phillips Edison & Company, Inc. Increases Dividend

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