Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 134,433 shares of the company’s stock after selling 880 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Phillips Edison & Company, Inc. were worth $5,069,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. increased its position in Phillips Edison & Company, Inc. by 15.5% during the 3rd quarter. Blue Trust Inc. now owns 2,420 shares of the company’s stock worth $91,000 after purchasing an additional 325 shares during the period. Xponance Inc. increased its position in Phillips Edison & Company, Inc. by 6.3% during the 2nd quarter. Xponance Inc. now owns 7,789 shares of the company’s stock worth $255,000 after purchasing an additional 465 shares during the period. Private Advisor Group LLC increased its position in Phillips Edison & Company, Inc. by 6.5% during the 3rd quarter. Private Advisor Group LLC now owns 8,009 shares of the company’s stock worth $302,000 after purchasing an additional 487 shares during the period. Calton & Associates Inc. increased its position in Phillips Edison & Company, Inc. by 1.8% during the 3rd quarter. Calton & Associates Inc. now owns 37,233 shares of the company’s stock worth $1,404,000 after purchasing an additional 641 shares during the period. Finally, American International Group Inc. increased its position in Phillips Edison & Company, Inc. by 1.1% during the 1st quarter. American International Group Inc. now owns 65,003 shares of the company’s stock worth $2,332,000 after purchasing an additional 699 shares during the period. Institutional investors and hedge funds own 80.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a report on Wednesday, November 13th. Compass Point upped their price target on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Finally, Mizuho upped their price target on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $38.43.

Phillips Edison & Company, Inc. Stock Performance

PECO stock opened at $39.22 on Tuesday. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $39.83. The stock’s 50 day moving average price is $37.70 and its 200 day moving average price is $35.10. The firm has a market cap of $4.81 billion, a P/E ratio of 85.26, a PEG ratio of 3.58 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted 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 company had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. During the same period in the previous year, the company posted $0.58 EPS. Phillips Edison & Company, Inc.’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, research analysts predict that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently declared 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. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 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.