Diversify Wealth Management LLC Trims Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Diversify Wealth Management LLC cut its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 7.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,219 shares of the company’s stock after selling 6,677 shares during the quarter. Diversify Wealth Management LLC owned approximately 0.06% of Phillips Edison & Company, Inc. worth $2,781,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Duff & Phelps Investment Management Co. bought a new stake in shares of Phillips Edison & Company, Inc. in the second quarter worth $32,120,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Phillips Edison & Company, Inc. by 408.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 765,822 shares of the company’s stock worth $28,879,000 after acquiring an additional 615,076 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 2nd quarter worth about $8,397,000. Dimensional Fund Advisors LP raised its stake in shares of Phillips Edison & Company, Inc. by 16.8% in the 2nd 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 in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Phillips Edison & Company, Inc. by 578.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 139,146 shares of the company’s stock worth $5,247,000 after purchasing an additional 118,640 shares during the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Wednesday, November 13th. Finally, Mizuho lifted their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $39.50.

Phillips Edison & Company, Inc. Trading Down 0.4 %

Shares of Phillips Edison & Company, Inc. stock opened at $35.79 on Monday. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 77.80, a PEG ratio of 2.94 and a beta of 0.59. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The business’s 50 day simple moving average is $38.21 and its 200-day simple moving average is $36.93.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued 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). The company had revenue of $165.50 million during 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%. Phillips Edison & Company, Inc.’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 earnings per share. Sell-side analysts predict that Phillips Edison & Company, Inc. will post 2.43 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently announced a dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.1025 per share. This represents a yield of 3.13%. This is a positive change from Phillips Edison & Company, Inc.’s previous dividend of $0.10. The ex-dividend date was Monday, December 16th. Phillips Edison & Company, Inc.’s payout ratio is presently 267.39%.

Phillips Edison & Company, Inc. 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.