Axxcess Wealth Management LLC Has $438,000 Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Axxcess Wealth Management LLC trimmed its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 5.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,395 shares of the company’s stock after selling 833 shares during the period. Axxcess Wealth Management LLC’s holdings in Phillips Edison & Company, Inc. were worth $438,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Illinois Municipal Retirement Fund raised its holdings in shares of Phillips Edison & Company, Inc. by 0.6% during the first quarter. Illinois Municipal Retirement Fund now owns 67,554 shares of the company’s stock worth $2,423,000 after acquiring an additional 372 shares during the period. Maryland State Retirement & Pension System increased its stake in Phillips Edison & Company, Inc. by 1.2% in the 1st quarter. Maryland State Retirement & Pension System now owns 43,970 shares of the company’s stock valued at $1,577,000 after buying an additional 502 shares during the last quarter. Accel Wealth Management increased its stake in Phillips Edison & Company, Inc. by 2.3% in the 1st quarter. Accel Wealth Management now owns 31,142 shares of the company’s stock valued at $1,117,000 after buying an additional 686 shares during the last quarter. American International Group Inc. increased its stake in Phillips Edison & Company, Inc. by 1.1% in the 1st quarter. American International Group Inc. now owns 65,003 shares of the company’s stock valued at $2,332,000 after buying an additional 699 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its stake in Phillips Edison & Company, Inc. by 4.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 18,081 shares of the company’s stock valued at $608,000 after buying an additional 699 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PECO has been the topic of several recent research reports. Mizuho lifted their price target on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Compass Point lifted their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Finally, Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $37.50.

Phillips Edison & Company, Inc. Price Performance

Phillips Edison & Company, Inc. stock opened at $38.37 on Friday. The firm has a market capitalization of $4.70 billion, a PE ratio of 83.41, a P/E/G ratio of 3.69 and a beta of 0.57. The company’s 50-day moving average is $35.87 and its 200-day moving average is $34.15. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings data 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 firm had revenue of $161.52 million for the quarter, compared to analyst estimates of $156.29 million. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, analysts expect that Phillips Edison & Company, Inc. will post 2.41 EPS for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be issued a dividend of $0.1025 per share. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.23 annualized dividend and a dividend yield of 3.21%. Phillips Edison & Company, Inc.’s payout ratio is presently 267.40%.

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.