Sequoia Financial Advisors LLC Makes New Investment in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Sequoia Financial Advisors LLC acquired a new stake in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 22,652 shares of the company's stock, valued at approximately $849,000.

A number of other hedge funds also recently made changes to their positions in the business. HighTower Advisors LLC grew its holdings in shares of Phillips Edison & Company, Inc. by 5.1% in the 4th quarter. HighTower Advisors LLC now owns 33,009 shares of the company's stock worth $1,236,000 after purchasing an additional 1,598 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Phillips Edison & Company, Inc. by 42.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,034 shares of the company's stock worth $2,961,000 after acquiring an additional 23,426 shares in the last quarter. Amundi grew its stake in shares of Phillips Edison & Company, Inc. by 47.2% during the 4th quarter. Amundi now owns 129,718 shares of the company's stock worth $4,748,000 after acquiring an additional 41,595 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Phillips Edison & Company, Inc. during the 4th quarter worth approximately $3,732,000. Finally, Raymond James Financial Inc. bought a new position in shares of Phillips Edison & Company, Inc. during the 4th quarter worth approximately $4,141,000. Institutional investors and hedge funds own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Stock Up 0.3 %

Shares of PECO traded up $0.12 during midday trading on Thursday, reaching $35.26. 578,300 shares of the stock were exchanged, compared to its average volume of 594,581. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The company has a market cap of $4.41 billion, a P/E ratio of 70.52, a PEG ratio of 1.70 and a beta of 0.57. The stock's 50 day simple moving average is $36.13 and its 200 day simple moving average is $37.34.

Remove Ads

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. As a group, analysts predict that Phillips Edison & Company, Inc. will post 2.55 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 Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Tuesday, April 15th. Phillips Edison & Company, Inc.'s payout ratio is 246.00%.

Analyst Ratings Changes

Several research firms recently weighed in on PECO. Mizuho decreased their target price on shares of 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. JPMorgan Chase & Co. decreased their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company reduced their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $39.00.

Phillips Edison & Company, Inc. Company Profile

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.