Principal Financial Group Inc. Has $21.79 Million Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Principal Financial Group Inc. trimmed its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 4.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 577,930 shares of the company's stock after selling 26,550 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Phillips Edison & Company, Inc. worth $21,794,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Global Wealth Management Investment Advisory Inc. lifted its holdings in Phillips Edison & Company, Inc. by 43.1% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 10,040 shares of the company's stock worth $379,000 after acquiring an additional 3,026 shares during the last quarter. World Equity Group Inc. bought a new position in Phillips Edison & Company, Inc. in the 3rd quarter valued at about $224,000. Van ECK Associates Corp increased its stake in shares of Phillips Edison & Company, Inc. by 12.3% during the third quarter. Van ECK Associates Corp now owns 21,102 shares of the company's stock valued at $781,000 after acquiring an additional 2,316 shares during the period. First Trust Direct Indexing L.P. acquired a new position in shares of Phillips Edison & Company, Inc. during the 3rd quarter valued at $206,000. Finally, GW Henssler & Associates Ltd. acquired a new position in Phillips Edison & Company, Inc. during the third quarter worth about $227,000. 80.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Mizuho upped their price target 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. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 target price for the company in a research note on Wednesday. Compass Point boosted their price target 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. Finally, Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $38.43.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ:PECO traded down $0.34 during midday trading on Thursday, reaching $38.77. 175,595 shares of the company's stock were exchanged, compared to its average volume of 666,786. The firm has a market capitalization of $4.75 billion, a PE ratio of 85.02, a price-to-earnings-growth ratio of 3.58 and a beta of 0.57. The company's 50 day simple moving average is $37.60 and its two-hundred day simple moving average is $34.95. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $39.83.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The firm had revenue of $165.50 million for the quarter, compared to analyst estimates of $157.20 million. During the same quarter last year, the business earned $0.58 EPS. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a $0.1025 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.17%. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 267.39%.

Phillips Edison & Company, Inc. 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.