New York State Common Retirement Fund Sells 307 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

New York State Common Retirement Fund trimmed its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,500 shares of the company’s stock after selling 307 shares during the quarter. New York State Common Retirement Fund’s holdings in Phillips Edison & Company, Inc. were worth $1,733,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its stake in shares of Phillips Edison & Company, Inc. by 1.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,207,617 shares of the company’s stock valued at $174,663,000 after purchasing an additional 99,383 shares during the last quarter. FMR LLC raised its stake in Phillips Edison & Company, Inc. by 4.0% during the third quarter. FMR LLC now owns 4,874,206 shares of the company’s stock worth $163,481,000 after acquiring an additional 186,651 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Phillips Edison & Company, Inc. by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,398 shares of the company’s stock worth $57,937,000 after acquiring an additional 107,214 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Phillips Edison & Company, Inc. by 1.5% in the third quarter. Northern Trust Corp now owns 1,376,392 shares of the company’s stock worth $46,164,000 after acquiring an additional 20,461 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Phillips Edison & Company, Inc. by 2.4% in the 3rd quarter. Rhumbline Advisers now owns 397,515 shares of the company’s stock valued at $13,333,000 after purchasing an additional 9,457 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Trading Down 1.0 %

Shares of PECO opened at $33.10 on Thursday. The stock’s 50-day moving average price is $34.36 and its two-hundred day moving average price is $34.97. Phillips Edison & Company, Inc. has a 12 month low of $27.85 and a 12 month high of $37.92. The company has a market capitalization of $4.05 billion, a PE ratio of 71.96, a PEG ratio of 3.92 and a beta of 0.59.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be issued a $0.0975 dividend. This represents a $1.17 annualized dividend and a yield of 3.53%. The ex-dividend date is Monday, July 15th. Phillips Edison & Company, Inc.’s payout ratio is presently 254.35%.

Analysts Set New Price Targets

Several brokerages recently commented on PECO. Compass Point dropped their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft began coverage on Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They set a “buy” rating and a $41.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Finally, Mizuho raised Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and lifted their price target for the company from $35.00 to $37.00 in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.14.

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.