McAdam LLC Sells 16,656 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

McAdam LLC lowered its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 10.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 149,413 shares of the company's stock after selling 16,656 shares during the quarter. McAdam LLC owned 0.12% of Phillips Edison & Company, Inc. worth $5,634,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 15.5% in 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. Illinois Municipal Retirement Fund raised its holdings in shares of Phillips Edison & Company, Inc. by 0.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 67,554 shares of the company's stock worth $2,423,000 after purchasing an additional 372 shares during the period. Xponance Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 6.3% in 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 raised its holdings in shares of Phillips Edison & Company, Inc. by 6.5% in 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. Finally, Maryland State Retirement & Pension System raised its holdings in shares of Phillips Edison & Company, Inc. by 1.2% in the 1st quarter. Maryland State Retirement & Pension System now owns 43,970 shares of the company's stock worth $1,577,000 after purchasing an additional 502 shares during the period. Institutional investors own 80.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PECO shares. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Mizuho lifted their price target on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an "outperform" rating in a report on Monday, August 19th. Finally, Compass Point lifted their price objective on shares of 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $37.50.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO remained flat at $37.01 during mid-day trading on Thursday. 566,954 shares of the stock were exchanged, compared to its average volume of 662,189. The business has a 50-day simple moving average of $37.03 and a two-hundred day simple moving average of $34.43. The firm has a market cap of $4.53 billion, a P/E ratio of 78.79, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.48). The firm had revenue of $161.52 million for the quarter, compared to analysts' expectations of $156.29 million. Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 earnings per share. Equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.1025 per share. This is a positive change from Phillips Edison & Company, Inc.'s previous monthly dividend of $0.10. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Tuesday, October 15th. Phillips Edison & Company, Inc.'s payout ratio is 261.71%.

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.