Brookstone Capital Management Lowers Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Brookstone Capital Management decreased its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 9.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 41,691 shares of the company’s stock after selling 4,325 shares during the quarter. Brookstone Capital Management’s holdings in Phillips Edison & Company, Inc. were worth $1,562,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Harbor Capital Advisors Inc. boosted its stake in shares of Phillips Edison & Company, Inc. by 0.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 72,465 shares of the company’s stock worth $2,715,000 after buying an additional 594 shares during the last quarter. Brass Tax Wealth Management Inc. purchased a new position in shares of Phillips Edison & Company, Inc. in the third quarter valued at approximately $378,000. Synovus Financial Corp purchased a new position in shares of Phillips Edison & Company, Inc. in the third quarter valued at approximately $376,000. Arete Wealth Advisors LLC increased its holdings in shares of Phillips Edison & Company, Inc. by 3.1% in the third quarter. Arete Wealth Advisors LLC now owns 28,392 shares of the company’s stock valued at $1,064,000 after purchasing an additional 866 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of Phillips Edison & Company, Inc. by 3.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 109,531 shares of the company’s stock valued at $4,131,000 after purchasing an additional 3,797 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PECO shares. JPMorgan Chase & Co. cut their price target on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Wednesday, November 13th. Finally, Mizuho lifted their price objective on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.50.

Phillips Edison & Company, Inc. Trading Down 1.1 %

Shares of NASDAQ PECO opened at $35.46 on Thursday. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The stock has a fifty day simple moving average of $38.40 and a 200-day simple moving average of $36.86. The stock has a market capitalization of $4.35 billion, a PE ratio of 77.09, a PEG ratio of 3.60 and a beta of 0.59.

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 analysts’ consensus estimates of $0.61 by ($0.52). The company had revenue of $165.50 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $0.58 earnings per share. On average, equities analysts predict that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were issued a dividend of $0.1025 per share. This represents a yield of 3.13%. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10. The ex-dividend date was Monday, December 16th. Phillips Edison & Company, Inc.’s payout ratio is 267.39%.

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.