Harbour Investments Inc. Sells 923 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Harbour Investments Inc. cut its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 4.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,677 shares of the company’s stock after selling 923 shares during the period. Harbour Investments Inc.’s holdings in Phillips Edison & Company, Inc. were worth $812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of PECO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 during the period. Duff & Phelps Investment Management Co. lifted its holdings in shares of Phillips Edison & Company, Inc. by 50.1% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock worth $55,589,000 after acquiring an additional 492,160 shares during the period. Aew Capital Management L P lifted its holdings in shares of Phillips Edison & Company, Inc. by 47.0% during the 4th quarter. Aew Capital Management L P now owns 627,889 shares of the company’s stock worth $23,521,000 after acquiring an additional 200,819 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Phillips Edison & Company, Inc. by 578.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 139,146 shares of the company’s stock worth $5,247,000 after acquiring an additional 118,640 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Phillips Edison & Company, Inc. during the 4th quarter worth about $4,141,000. 80.70% of the stock is owned by institutional investors.

Phillips Edison & Company, Inc. Trading Down 0.0 %

PECO opened at $35.14 on Thursday. The stock has a market capitalization of $4.40 billion, a PE ratio of 70.28, a PEG ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12. The firm has a 50-day moving average price of $36.13 and a two-hundred day moving average price of $37.34.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. On average, research analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Stockholders 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 dividend yield of 3.50%. The ex-dividend date is Tuesday, April 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is 246.00%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PECO shares. Mizuho dropped their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their target price on shares of 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. Finally, Wells Fargo & Company dropped their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Three 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

About Phillips Edison & Company, Inc.

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.