Principal Financial Group Inc. Lowers Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

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

A number of other institutional investors and hedge funds have also modified their holdings of PECO. Bank of New York Mellon Corp raised its position in Phillips Edison & Company, Inc. by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,106,277 shares of the company's stock worth $36,186,000 after buying an additional 27,611 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Phillips Edison & Company, Inc. by 15.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,723 shares of the company's stock valued at $1,790,000 after buying an additional 7,397 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Phillips Edison & Company, Inc. by 14.5% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,600 shares of the company's stock valued at $739,000 after buying an additional 2,857 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Phillips Edison & Company, Inc. in the 2nd quarter worth $107,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of Phillips Edison & Company, Inc. by 1.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 239,905 shares of the company's stock valued at $7,847,000 after purchasing an additional 2,263 shares during the period. Institutional investors own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Stock Up 0.8 %

Shares of PECO traded up $0.30 during mid-day trading on Thursday, hitting $38.52. 270,577 shares of the company traded hands, compared to its average volume of 675,133. The company has a market capitalization of $4.72 billion, a PE ratio of 83.74, a price-to-earnings-growth ratio of 3.60 and a beta of 0.57. The business has a 50 day moving average of $38.55 and a 200 day moving average of $36.38. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly 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 company had revenue of $165.50 million during the quarter, compared to analysts' expectations of $157.20 million. During the same period in the prior year, the business posted $0.58 EPS. The company's quarterly revenue was up 8.5% on a year-over-year basis. As a group, research analysts expect 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 announced a dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be issued a dividend of $0.1025 per share. This is an increase from Phillips Edison & Company, Inc.'s previous dividend of $0.10. The ex-dividend date is Monday, December 16th. This represents a dividend yield of 3.13%. Phillips Edison & Company, Inc.'s payout ratio is 267.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PECO shares. Mizuho raised their target price on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 price target on the stock in a report on Wednesday, November 13th. Finally, Compass Point lifted their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a "neutral" rating in a research report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $39.00.

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.