Vestcor Inc Trims Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Vestcor Inc lessened its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 95.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,841 shares of the company's stock after selling 59,468 shares during the period. Vestcor Inc's holdings in Phillips Edison & Company, Inc. were worth $107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new position in shares of Phillips Edison & Company, Inc. during the 3rd quarter valued at about $28,000. 1620 Investment Advisors Inc. acquired a new position in Phillips Edison & Company, Inc. in the second quarter valued at approximately $26,000. Legacy Investment Solutions LLC acquired a new position in Phillips Edison & Company, Inc. in the third quarter valued at approximately $36,000. Hobbs Group Advisors LLC purchased a new stake in Phillips Edison & Company, Inc. in the 2nd quarter worth approximately $39,000. Finally, Blue Trust Inc. grew its stake in shares of Phillips Edison & Company, Inc. by 160.2% during the 2nd quarter. Blue Trust Inc. now owns 2,095 shares of the company's stock worth $75,000 after purchasing an additional 1,290 shares during the period. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PECO. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Mizuho increased their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an "outperform" rating in a research note on Tuesday. Wolfe Research upgraded Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 price target for the company in a research note on Wednesday, November 13th. Finally, Compass Point increased their price target on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $39.14.

Phillips Edison & Company, Inc. Price Performance

Phillips Edison & Company, Inc. stock remained flat at $39.20 during midday trading on Friday. 606,078 shares of the company were exchanged, compared to its average volume of 671,853. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12. The company has a market capitalization of $4.81 billion, a P/E ratio of 85.22, a P/E/G ratio of 3.58 and a beta of 0.57. The business has a 50-day moving average of $38.23 and a two-hundred day moving average of $35.99.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its earnings results on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The firm had revenue of $165.50 million during the quarter, compared to analysts' expectations of $157.20 million. During the same quarter last year, the business earned $0.58 EPS. The business's revenue was up 8.5% compared to the same quarter last year. On average, research analysts forecast that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal 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 given a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is 267.39%.

About Phillips Edison & Company, Inc.

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.