Quest Partners LLC Lowers Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Quest Partners LLC trimmed its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 43.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,352 shares of the company’s stock after selling 41,806 shares during the quarter. Quest Partners LLC’s holdings in Phillips Edison & Company, Inc. were worth $2,087,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Phillips Edison & Company, Inc. by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after acquiring an additional 577,445 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Phillips Edison & Company, Inc. by 16.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock valued at $40,911,000 after purchasing an additional 179,775 shares during the period. Cetera Investment Advisers raised its stake in shares of Phillips Edison & Company, Inc. by 240.9% during the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after purchasing an additional 826,891 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Phillips Edison & Company, Inc. by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 1,106,277 shares of the company’s stock worth $36,186,000 after purchasing an additional 27,611 shares during the period. Finally, Duff & Phelps Investment Management Co. purchased a new position in Phillips Edison & Company, Inc. in the 2nd quarter valued at $32,120,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Trading Up 0.5 %

PECO stock opened at $39.22 on Tuesday. The firm has a 50 day moving average of $37.70 and a 200-day moving average of $35.10. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 85.26, a PEG ratio of 3.58 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.83.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). The firm had revenue of $165.50 million for the quarter, compared to analyst estimates of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.58 earnings per share. Sell-side 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 disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a $0.1025 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 annualized dividend and a dividend yield of 3.14%. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 267.39%.

Analysts Set New Price Targets

A number of brokerages have commented on PECO. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Mizuho raised their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Compass Point boosted their target price 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. Finally, Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. presently has an average rating of “Hold” and an average price target of $38.43.

Phillips Edison & Company, Inc. Profile

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.