Phillips Edison & Company, Inc. (NASDAQ:PECO) Stake Reduced by Strs Ohio

Strs Ohio trimmed its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 3.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 24,100 shares of the company’s stock after selling 800 shares during the quarter. Strs Ohio’s holdings in Phillips Edison & Company, Inc. were worth $879,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PECO. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Phillips Edison & Company, Inc. by 5.5% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 138,943 shares of the company’s stock valued at $5,069,000 after purchasing an additional 7,304 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Phillips Edison & Company, Inc. during the fourth quarter worth approximately $2,182,000. Koshinski Asset Management Inc. grew its holdings in Phillips Edison & Company, Inc. by 54.5% in the 4th quarter. Koshinski Asset Management Inc. now owns 113,307 shares of the company’s stock worth $4,133,000 after buying an additional 39,961 shares in the last quarter. Cerity Partners LLC increased its position in Phillips Edison & Company, Inc. by 30.4% in the 4th quarter. Cerity Partners LLC now owns 35,510 shares of the company’s stock valued at $1,295,000 after acquiring an additional 8,284 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in Phillips Edison & Company, Inc. by 19.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 81,011 shares of the company’s stock valued at $2,955,000 after acquiring an additional 13,379 shares in the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

PECO stock opened at $33.23 on Thursday. The firm has a market cap of $4.06 billion, a PE ratio of 72.24, a P/E/G ratio of 3.75 and a beta of 0.55. Phillips Edison & Company, Inc. has a 12 month low of $27.85 and a 12 month high of $37.92. The firm has a 50 day simple moving average of $34.68 and a 200 day simple moving average of $35.05.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a dividend of $0.0975 per share. The ex-dividend date is Friday, April 12th. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.52%. Phillips Edison & Company, Inc.’s payout ratio is 254.35%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They set a “buy” rating and a $41.00 price target on the stock. Mizuho upgraded shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $37.00 in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $38.14.

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.