Thrivent Financial for Lutherans Sells 103,660 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Thrivent Financial for Lutherans decreased its position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 52.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,764 shares of the company's stock after selling 103,660 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of Phillips Edison & Company, Inc. worth $3,550,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PECO. State Street Corp boosted its position in shares of Phillips Edison & Company, Inc. by 0.3% in the 3rd quarter. State Street Corp now owns 7,068,684 shares of the company's stock worth $267,289,000 after purchasing an additional 18,429 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Phillips Edison & Company, Inc. by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company's stock worth $120,347,000 after acquiring an additional 19,205 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Phillips Edison & Company, Inc. by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company's stock worth $80,371,000 after acquiring an additional 51,186 shares in the last quarter. Duff & Phelps Investment Management Co. grew its stake in shares of Phillips Edison & Company, Inc. by 50.1% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company's stock worth $55,589,000 after acquiring an additional 492,160 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Phillips Edison & Company, Inc. by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 969,592 shares of the company's stock valued at $36,321,000 after acquiring an additional 5,033 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Stock Up 0.8 %

Shares of NASDAQ PECO traded up $0.27 during trading on Friday, reaching $35.96. 733,580 shares of the company traded hands, compared to its average volume of 668,855. The firm has a 50 day simple moving average of $36.10 and a 200-day simple moving average of $37.26. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The stock has a market capitalization of $4.50 billion, a PE ratio of 71.92, a P/E/G ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. As a group, research analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS 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. Investors 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 3.42%. The ex-dividend date of this dividend is Tuesday, April 15th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 246.00%.

Wall Street Analysts Forecast Growth

PECO has been the topic of a number of analyst reports. Mizuho dropped their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Finally, Wells Fargo & Company reduced their price target on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Phillips Edison & Company, Inc. presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.83.

About Phillips Edison & Company, Inc.

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.