Canton Hathaway LLC Boosts Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Canton Hathaway LLC boosted its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 150.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,274 shares of the company’s stock after purchasing an additional 3,768 shares during the quarter. Canton Hathaway LLC’s holdings in Phillips Edison & Company, Inc. were worth $229,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. ClariVest Asset Management LLC raised its stake in shares of Phillips Edison & Company, Inc. by 73,077.5% during the third quarter. ClariVest Asset Management LLC now owns 29,271 shares of the company’s stock valued at $981,000 after purchasing an additional 29,231 shares during the period. LPL Financial LLC increased its stake in shares of Phillips Edison & Company, Inc. by 36.9% in the third quarter. LPL Financial LLC now owns 348,035 shares of the company’s stock worth $11,673,000 after buying an additional 93,719 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Phillips Edison & Company, Inc. by 54.2% in the third quarter. Mutual of America Capital Management LLC now owns 78,593 shares of the company’s stock worth $2,636,000 after buying an additional 27,641 shares during the last quarter. FMR LLC increased its stake in shares of Phillips Edison & Company, Inc. by 4.0% in the third quarter. FMR LLC now owns 4,874,206 shares of the company’s stock worth $163,481,000 after buying an additional 186,651 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Phillips Edison & Company, Inc. by 1.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,207,617 shares of the company’s stock worth $174,663,000 after buying an additional 99,383 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Analyst Upgrades and Downgrades

PECO has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Phillips Edison & Company, Inc. in a research note on Tuesday, January 30th. They issued a “buy” rating and a $41.00 price target for the company. Mizuho upgraded shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $35.00 to $37.00 in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.14.

Phillips Edison & Company, Inc. Trading Down 1.0 %

Phillips Edison & Company, Inc. stock traded down $0.34 during mid-day trading on Monday, reaching $32.59. The company’s stock had a trading volume of 545,601 shares, compared to its average volume of 624,454. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 71.59, a PEG ratio of 3.71 and a beta of 0.55. The business has a 50 day moving average price of $34.99 and a 200-day moving average price of $35.08. Phillips Edison & Company, Inc. has a twelve month low of $27.85 and a twelve month high of $37.92.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be issued a dividend of $0.0975 per share. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.17 annualized dividend and a dividend yield of 3.59%. Phillips Edison & Company, Inc.’s payout ratio is 254.35%.

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.