Janney Montgomery Scott LLC Lowers Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Janney Montgomery Scott LLC trimmed its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 1.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 27,449 shares of the company’s stock after selling 524 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Phillips Edison & Company, Inc. were worth $1,035,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Phillips Edison & Company, Inc. by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after buying an additional 577,445 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Phillips Edison & Company, Inc. by 16.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock worth $40,911,000 after purchasing an additional 179,775 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Phillips Edison & Company, Inc. by 240.9% in the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after acquiring an additional 826,891 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Phillips Edison & Company, Inc. by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 1,106,277 shares of the company’s stock worth $36,186,000 after acquiring an additional 27,611 shares during the period. Finally, Duff & Phelps Investment Management Co. bought a new stake in Phillips Edison & Company, Inc. during the second quarter valued at about $32,120,000. 80.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on PECO shares. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Compass Point upped their price objective on 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. Mizuho upped their target price on 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. Finally, Wolfe Research raised 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 note on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Phillips Edison & Company, Inc. presently has a consensus rating of “Hold” and a consensus price target of $38.43.

Phillips Edison & Company, Inc. Trading Up 1.0 %

PECO stock opened at $39.01 on Friday. The business’s 50-day moving average is $37.67 and its 200 day moving average is $35.02. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.83. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 84.80, a PEG ratio of 3.59 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The firm had revenue of $165.50 million for the quarter, compared to analysts’ expectations of $157.20 million. During the same period in the previous year, the firm posted $0.58 EPS. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts forecast that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.1025 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.15%. Phillips Edison & Company, Inc.’s payout ratio is currently 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.