Phillips Edison & Company, Inc. (NASDAQ:PECO) Stake Reduced by Natixis Advisors LLC

Natixis Advisors LLC decreased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 40.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 18,819 shares of the company’s stock after selling 12,700 shares during the period. Natixis Advisors LLC’s holdings in Phillips Edison & Company, Inc. were worth $616,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new stake in Phillips Edison & Company, Inc. during the second quarter valued at approximately $26,000. Creekmur Asset Management LLC bought a new position in shares of Phillips Edison & Company, Inc. in the fourth quarter valued at $32,000. Hobbs Group Advisors LLC acquired a new stake in shares of Phillips Edison & Company, Inc. during the 2nd quarter valued at $39,000. Quadrant Capital Group LLC boosted its stake in shares of Phillips Edison & Company, Inc. by 197.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,190 shares of the company’s stock worth $43,000 after acquiring an additional 790 shares in the last quarter. Finally, PFG Private Wealth Management LLC acquired a new position in shares of Phillips Edison & Company, Inc. in the 2nd quarter worth $62,000. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Trading Up 2.6 %

NASDAQ:PECO opened at $38.35 on Friday. The business’s fifty day moving average price is $35.27 and its 200 day moving average price is $34.03. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 83.37, a PEG ratio of 3.52 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $38.39.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its earnings results on Thursday, July 25th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.48). The business had revenue of $161.52 million for the quarter, compared to analysts’ expectations of $156.29 million. Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. Equities analysts forecast that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be paid a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, October 15th. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 267.39%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PECO. Deutsche Bank Aktiengesellschaft reduced their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. Mizuho boosted their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Finally, Compass Point lifted their target price 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $37.50.

Phillips Edison & Company, Inc. Company 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.