Harbour Investments Inc. Cuts Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Harbour Investments Inc. cut its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,600 shares of the company’s stock after selling 295 shares during the quarter. Harbour Investments Inc.’s holdings in Phillips Edison & Company, Inc. were worth $852,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Entropy Technologies LP purchased a new position in shares of Phillips Edison & Company, Inc. in the third quarter worth $712,000. Los Angeles Capital Management LLC bought a new stake in Phillips Edison & Company, Inc. in the 3rd quarter worth $921,000. Global Wealth Management Investment Advisory Inc. increased its position in shares of Phillips Edison & Company, Inc. by 43.1% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 10,040 shares of the company’s stock valued at $379,000 after acquiring an additional 3,026 shares during the period. World Equity Group Inc. bought a new position in shares of Phillips Edison & Company, Inc. during the third quarter valued at about $224,000. Finally, Van ECK Associates Corp raised its stake in shares of Phillips Edison & Company, Inc. by 12.3% during the third quarter. Van ECK Associates Corp now owns 21,102 shares of the company’s stock valued at $781,000 after acquiring an additional 2,316 shares during the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on PECO shares. Wolfe Research upgraded 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. Mizuho boosted their target price on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Compass Point upped 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, September 10th. Finally, Wells Fargo & Company raised 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 report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $38.43.

Phillips Edison & Company, Inc. Trading Up 1.0 %

PECO opened at $39.01 on Friday. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.83. The company 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. The company’s 50 day moving average is $37.67 and its 200 day moving average is $35.02.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.52). The firm had revenue of $165.50 million for 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%. Phillips Edison & Company, Inc.’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 EPS. As a group, analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given 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 dividend payout ratio is 267.39%.

Phillips Edison & Company, Inc. 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.