Legal & General Group Plc Sells 74,412 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Legal & General Group Plc lessened its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 8.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 840,406 shares of the company’s stock after selling 74,412 shares during the period. Legal & General Group Plc’s holdings in Phillips Edison & Company, Inc. were worth $31,482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP grew its holdings in Phillips Edison & Company, Inc. by 94.6% during the 4th quarter. Allworth Financial LP now owns 1,621 shares of the company’s stock worth $58,000 after acquiring an additional 788 shares during the period. Blue Trust Inc. boosted its position in shares of Phillips Edison & Company, Inc. by 24.9% during the 4th quarter. Blue Trust Inc. now owns 3,023 shares of the company’s stock valued at $113,000 after purchasing an additional 603 shares in the last quarter. Eukles Asset Management acquired a new stake in Phillips Edison & Company, Inc. during the fourth quarter worth approximately $156,000. KBC Group NV increased its holdings in Phillips Edison & Company, Inc. by 13.4% in the fourth quarter. KBC Group NV now owns 4,424 shares of the company’s stock worth $166,000 after purchasing an additional 522 shares in the last quarter. Finally, MCF Advisors LLC lifted its stake in Phillips Edison & Company, Inc. by 47.4% in the fourth quarter. MCF Advisors LLC now owns 5,200 shares of the company’s stock valued at $195,000 after buying an additional 1,672 shares during the period. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Trading Up 1.5 %

PECO opened at $35.05 on Friday. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 70.10, a PEG ratio of 1.70 and a beta of 0.57. The company’s fifty day moving average price is $35.81 and its two-hundred day moving average price is $37.00.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. As a group, equities analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a $0.1025 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.51%. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 246.00%.

Analyst Ratings Changes

Several analysts have recently weighed in on PECO shares. Mizuho lowered their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company cut their price objective on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.83.

About Phillips Edison & Company, Inc.

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.