Wells Fargo & Company MN Acquires 17,392 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Wells Fargo & Company MN raised its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 29.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,673 shares of the company's stock after acquiring an additional 17,392 shares during the quarter. Wells Fargo & Company MN owned about 0.06% of Phillips Edison & Company, Inc. worth $2,872,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of PECO. Norges Bank bought a new stake in shares of Phillips Edison & Company, Inc. during the 4th quarter valued at about $55,977,000. JPMorgan Chase & Co. increased its holdings in shares of Phillips Edison & Company, Inc. by 53.6% during the fourth quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company's stock valued at $65,084,000 after acquiring an additional 606,055 shares in the last quarter. ExodusPoint Capital Management LP lifted its position in Phillips Edison & Company, Inc. by 341.1% in the 4th quarter. ExodusPoint Capital Management LP now owns 499,336 shares of the company's stock valued at $18,705,000 after acquiring an additional 386,145 shares in the last quarter. Aew Capital Management L P boosted its position in shares of Phillips Edison & Company, Inc. by 47.0% during the fourth quarter. Aew Capital Management L P now owns 627,889 shares of the company's stock valued at $23,521,000 after buying an additional 200,819 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Phillips Edison & Company, Inc. by 2.2% in the fourth quarter. Wellington Management Group LLP now owns 7,537,917 shares of the company's stock valued at $282,370,000 after purchasing an additional 161,963 shares during the last quarter. Institutional investors own 80.70% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on PECO shares. JPMorgan Chase & Co. decreased their price target on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Mizuho lowered their price objective on 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. Finally, Wells Fargo & Company reduced their price target on 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, March 26th. Three 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 company has an average rating of "Moderate Buy" and an average price target of $38.83.

Phillips Edison & Company, Inc. Price Performance

Phillips Edison & Company, Inc. stock traded down $0.33 during trading hours on Monday, reaching $34.75. The stock had a trading volume of 334,683 shares, compared to its average volume of 704,746. The stock has a market cap of $4.35 billion, a PE ratio of 69.42, a PEG ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $40.12. The company has a fifty day simple moving average of $35.57 and a 200-day simple moving average of $36.92.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. The business had revenue of $178.31 million for the quarter, compared to analysts' expectations of $170.59 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts predict that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 3.54%. The ex-dividend date is Tuesday, April 15th. Phillips Edison & Company, Inc.'s dividend payout ratio is currently 215.79%.

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.