Townsquare Capital LLC Cuts Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Townsquare Capital LLC trimmed its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 48.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,009 shares of the company’s stock after selling 5,605 shares during the period. Townsquare Capital LLC’s holdings in Phillips Edison & Company, Inc. were worth $227,000 at the end of the most recent reporting period.

Other institutional investors also recently 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 $28,000. 1620 Investment Advisors Inc. purchased a new position in Phillips Edison & Company, Inc. during the second quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new position in Phillips Edison & Company, Inc. during the second quarter valued at $39,000. Blue Trust Inc. grew its stake in Phillips Edison & Company, Inc. by 160.2% during the second quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock valued at $75,000 after acquiring an additional 1,290 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Phillips Edison & Company, Inc. during the second quarter valued at $107,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Wednesday, November 13th. Mizuho increased their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Compass Point increased their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips Edison & Company, Inc. currently has a consensus rating of “Hold” and a consensus price target of $38.43.

Phillips Edison & Company, Inc. Trading Down 0.2 %

Phillips Edison & Company, Inc. stock opened at $39.27 on Friday. The firm has a 50-day moving average price of $38.02 and a 200-day moving average price of $35.70. The firm has a market capitalization of $4.81 billion, a PE ratio of 85.37, a price-to-earnings-growth ratio of 3.60 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released 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 firm had revenue of $165.50 million during the quarter, compared to the consensus estimate of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. Phillips Edison & Company, Inc.’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS. As a group, sell-side analysts predict that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a $0.1025 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.23 annualized dividend and a dividend yield of 3.13%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 267.39%.

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.