Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 8.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,775 shares of the company’s stock after selling 5,356 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Phillips Edison & Company, Inc. were worth $2,066,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PECO. Duff & Phelps Investment Management Co. acquired a new position in Phillips Edison & Company, Inc. during the 2nd quarter valued at about $32,120,000. Cetera Investment Advisers increased its stake in shares of Phillips Edison & Company, Inc. by 240.9% during the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock valued at $41,971,000 after acquiring an additional 826,891 shares during the period. Vanguard Group Inc. raised its holdings in Phillips Edison & Company, Inc. by 3.1% during the first quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after purchasing an additional 577,445 shares in the last quarter. Cetera Advisors LLC raised its holdings in Phillips Edison & Company, Inc. by 60.4% during the first quarter. Cetera Advisors LLC now owns 791,147 shares of the company’s stock worth $28,378,000 after purchasing an additional 297,945 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Phillips Edison & Company, Inc. in the second quarter worth approximately $8,397,000. 80.70% of the stock is currently owned by institutional investors.

Phillips Edison & Company, Inc. Price Performance

PECO stock opened at $39.01 on Friday. The firm has a market capitalization of $4.78 billion, a P/E ratio of 84.80, a P/E/G ratio of 3.59 and a beta of 0.57. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $39.83. The company’s 50 day simple moving average is $37.67 and its 200-day simple moving average is $35.02.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. During the same quarter in the previous year, the company earned $0.58 EPS. Phillips Edison & Company, Inc.’s revenue for the quarter was up 8.5% on a year-over-year basis. Sell-side analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders 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 annualized dividend and a yield of 3.15%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 267.39%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PECO shares. Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Wednesday. Compass Point boosted their price target 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. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Finally, Mizuho increased 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 research note on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $38.43.

Phillips Edison & Company, Inc. Company 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.