Geneos Wealth Management Inc. cut its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Free Report) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,306 shares of the company’s stock after selling 872 shares during the period. Geneos Wealth Management Inc.’s holdings in Phillips Edison & Company, Inc. were worth $536,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Phillips Edison & Company, Inc. during the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new position in Phillips Edison & Company, Inc. in the 3rd quarter worth $36,000. Blue Trust Inc. boosted its holdings in Phillips Edison & Company, Inc. by 15.5% in the 3rd quarter. Blue Trust Inc. now owns 2,420 shares of the company’s stock worth $91,000 after buying an additional 325 shares during the period. GAMMA Investing LLC boosted its holdings in 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 period. Finally, Tsfg LLC bought a new stake in Phillips Edison & Company, Inc. during the third quarter valued at about $127,000. Institutional investors own 80.70% of the company’s stock.
Analyst Upgrades and Downgrades
PECO has been the topic of several research analyst reports. Wolfe Research upgraded 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. 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 report on Tuesday, December 10th. Finally, 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 on the stock in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.50.
Phillips Edison & Company, Inc. Price Performance
Shares of PECO opened at $36.93 on Wednesday. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 80.28, a price-to-earnings-growth ratio of 3.13 and a beta of 0.59. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12. The business’s 50 day simple moving average is $37.83 and its 200-day simple moving average is $37.11.
Phillips Edison & Company, Inc. Increases Dividend
The firm also recently declared a dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were given a $0.1025 dividend. This represents a yield of 3.13%. The ex-dividend date of this dividend was Monday, December 16th. This is a boost from Phillips Edison & Company, Inc.’s previous dividend of $0.10. Phillips Edison & Company, Inc.’s payout ratio is currently 267.39%.
About Phillips Edison & Company, Inc.
Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.
Recommended Stories
- Five stocks we like better than Phillips Edison & Company, Inc.
- What Investors Need to Know to Beat the Market
- Survey Reveals: Top 150 Best Coffee Shops for Remote Workers and Business Deals [2025]
- High Dividend REITs: Are They an Ideal Way to Diversify?
- What Does the Future Hold for Eli Lilly?
- What is Short Interest? How to Use It
- Oracle Stock Drops Nearly 14% – Is Now the Time to Buy?
Want to see what other hedge funds are holding PECO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips Edison & Company, Inc. (NASDAQ:PECO – Free Report).
Receive News & Ratings for Phillips Edison & Company Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips Edison & Company Inc. and related companies with MarketBeat.com's FREE daily email newsletter.