LPL Financial LLC increased its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 12.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 370,636 shares of the company's stock after buying an additional 41,468 shares during the period. LPL Financial LLC owned 0.30% of Phillips Edison & Company, Inc. worth $13,884,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in shares of Phillips Edison & Company, Inc. in the 3rd quarter valued at about $36,000. Allworth Financial LP lifted its stake in Phillips Edison & Company, Inc. by 94.6% in the fourth quarter. Allworth Financial LP now owns 1,621 shares of the company's stock valued at $58,000 after buying an additional 788 shares during the period. Blue Trust Inc. boosted its holdings in shares of Phillips Edison & Company, Inc. by 24.9% during the 4th quarter. Blue Trust Inc. now owns 3,023 shares of the company's stock worth $113,000 after buying an additional 603 shares in the last quarter. Eukles Asset Management bought a new position in shares of Phillips Edison & Company, Inc. during the 4th quarter worth approximately $156,000. Finally, KBC Group NV grew its position in shares of Phillips Edison & Company, Inc. by 13.4% during the 4th quarter. KBC Group NV now owns 4,424 shares of the company's stock worth $166,000 after buying an additional 522 shares during the period. Institutional investors own 80.70% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. JPMorgan Chase & Co. cut their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Finally, Mizuho reduced their target price on 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.83.
Get Our Latest Stock Report on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Stock Down 3.0 %
PECO traded down $1.08 during trading on Friday, hitting $34.98. 1,038,505 shares of the company's stock were exchanged, compared to its average volume of 675,370. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $40.12. The stock has a market cap of $4.38 billion, a P/E ratio of 69.96, a PEG ratio of 1.70 and a beta of 0.57. The business's 50 day moving average is $36.12 and its two-hundred day moving average is $37.20.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. On average, sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.
Phillips Edison & Company, Inc. Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. The ex-dividend date is Tuesday, April 15th. This represents a $1.23 annualized dividend and a dividend yield of 3.52%. Phillips Edison & Company, Inc.'s payout ratio is 246.00%.
Phillips Edison & Company, Inc. Company Profile
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Free Report)
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.
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