Thrivent Financial for Lutherans Has $19.94 Million Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Thrivent Financial for Lutherans lessened its position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 8.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 609,499 shares of the company's stock after selling 54,391 shares during the period. Thrivent Financial for Lutherans owned about 0.50% of Phillips Edison & Company, Inc. worth $19,937,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new position in Phillips Edison & Company, Inc. during the 4th quarter worth approximately $48,562,000. Cetera Investment Advisers lifted its stake in shares of Phillips Edison & Company, Inc. by 240.9% in the 1st 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 last quarter. GRS Advisors LLC bought a new stake in Phillips Edison & Company, Inc. during the 4th quarter worth approximately $26,042,000. Vanguard Group Inc. boosted its holdings in Phillips Edison & Company, Inc. by 3.1% in the first quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company's stock valued at $693,619,000 after acquiring an additional 577,445 shares during the last quarter. Finally, Cetera Advisors LLC grew its holdings in Phillips Edison & Company, Inc. by 60.4% during the 1st quarter. Cetera Advisors LLC now owns 791,147 shares of the company's stock worth $28,378,000 after acquiring an additional 297,945 shares during the period. 80.70% of the stock is currently owned by institutional investors.

Phillips Edison & Company, Inc. Price Performance

PECO traded down $0.32 on Wednesday, reaching $38.14. 497,587 shares of the stock were exchanged, compared to its average volume of 675,071. The firm has a market capitalization of $4.67 billion, a PE ratio of 82.96, a PEG ratio of 3.65 and a beta of 0.57. The company's 50-day moving average price is $36.13 and its 200 day moving average price is $34.18. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The company had revenue of $161.52 million during the quarter, compared to analyst estimates of $156.29 million. During the same period in the prior year, the business posted $0.59 EPS. Phillips Edison & Company, Inc.'s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities analysts forecast that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be issued a dividend of $0.1025 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.22%. This is a positive change from Phillips Edison & Company, Inc.'s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is currently 267.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Mizuho boosted their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an "outperform" rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a "buy" rating on the stock in a report on Wednesday, May 29th. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Finally, Compass Point increased their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a "neutral" rating in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $37.50.

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.