Phillips Edison & Company, Inc. (NASDAQ:PECO) Holdings Cut by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. lowered its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,456,975 shares of the company’s stock after selling 17,155 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Phillips Edison & Company, Inc. were worth $54,578,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Phillips Edison & Company, Inc. by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 19,322,342 shares of the company’s stock valued at $723,815,000 after buying an additional 82,913 shares during the last quarter. State Street Corp grew its stake in shares of Phillips Edison & Company, Inc. by 0.3% in the third quarter. State Street Corp now owns 7,068,684 shares of the company’s stock worth $267,289,000 after acquiring an additional 18,429 shares during the last quarter. Geode Capital Management LLC increased its position in Phillips Edison & Company, Inc. by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company’s stock worth $120,347,000 after acquiring an additional 19,205 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Phillips Edison & Company, Inc. by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company’s stock valued at $80,371,000 after purchasing an additional 51,186 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Phillips Edison & Company, Inc. by 53.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company’s stock worth $65,084,000 after purchasing an additional 606,055 shares during the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PECO has been the subject of several recent research reports. 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. Wells Fargo & Company reduced their target price on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Mizuho dropped 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.83.

Phillips Edison & Company, Inc. Stock Performance

PECO opened at $35.69 on Friday. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 71.38, a PEG ratio of 1.70 and a beta of 0.57. The firm’s 50-day simple moving average is $36.10 and its 200-day simple moving average is $37.27. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12.

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

Phillips Edison & Company, Inc. Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a $0.1025 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a yield of 3.45%. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 246.00%.

Phillips Edison & Company, Inc. Company Profile

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.