Phillips Edison & Company, Inc. $PECO Stock Holdings Trimmed by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 42.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,038 shares of the company’s stock after selling 38,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Phillips Edison & Company, Inc. were worth $1,943,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Waverly Advisors LLC increased its stake in shares of Phillips Edison & Company, Inc. by 0.8% during the first quarter. Waverly Advisors LLC now owns 35,466 shares of the company’s stock worth $1,327,000 after purchasing an additional 269 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in Phillips Edison & Company, Inc. by 2.6% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 11,205 shares of the company’s stock valued at $466,000 after buying an additional 281 shares in the last quarter. GAMMA Investing LLC lifted its stake in Phillips Edison & Company, Inc. by 5.9% in the 2nd quarter. GAMMA Investing LLC now owns 5,245 shares of the company’s stock valued at $218,000 after buying an additional 292 shares in the last quarter. CX Institutional lifted its stake in Phillips Edison & Company, Inc. by 115.5% in the 2nd quarter. CX Institutional now owns 724 shares of the company’s stock valued at $30,000 after buying an additional 388 shares in the last quarter. Finally, Earned Wealth Advisors LLC boosted its holdings in Phillips Edison & Company, Inc. by 1.0% in the 1st quarter. Earned Wealth Advisors LLC now owns 43,172 shares of the company’s stock worth $1,615,000 after buying an additional 420 shares during the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. The Goldman Sachs Group set a $44.00 target price on Phillips Edison & Company, Inc. in a report on Wednesday, October 7th. Weiss Ratings lowered Phillips Edison & Company, Inc. from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, October 28th. UBS Group lowered their price target on Phillips Edison & Company, Inc. from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, October 9th. JPMorgan Chase & Co. boosted their price target on Phillips Edison & Company, Inc. from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Finally, Wells Fargo & Company reduced their price objective on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, October 23rd. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. currently has an average rating of “Hold” and an average price target of $43.20.

Phillips Edison & Company, Inc. Price Performance

PECO opened at $39.58 on Wednesday. The company’s 50 day simple moving average is $38.14 and its two-hundred day simple moving average is $39.20. Phillips Edison & Company, Inc. has a 1-year low of $33.75 and a 1-year high of $44.38. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 2.37 and a beta of 0.54.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Monday, October 26th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.20). The company had revenue of $193.09 million for the quarter, compared to analyst estimates of $190.17 million. Phillips Edison & Company, Inc. had a return on equity of 6.90% and a net margin of 23.87%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share. On average, equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.77 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be given a dividend of $0.1150 per share. The ex-dividend date is Monday, November 16th. This represents a $1.38 dividend on an annualized basis and a yield of 3.5%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 95.83%.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc is a real estate investment trust focused on owning, operating and developing grocery-anchored shopping centers in the United States. Its properties are typically located in established communities and are designed to provide consumers with convenient access to essential goods and services.

The company’s portfolio includes neighborhood and community shopping centers anchored by grocery stores, alongside complementary tenants such as restaurants, personal care providers, medical offices and other service-oriented businesses.