Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by BlueChip Wealth Advisors LLC

BlueChip Wealth Advisors LLC lessened its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 5.2% during the fourth quarter, HoldingsChannel reports. The fund owned 17,490 shares of the company’s stock after selling 952 shares during the period. BlueChip Wealth Advisors LLC’s holdings in Phillips Edison & Company, Inc. were worth $655,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Phillips Edison & Company, Inc. during the 3rd quarter worth $468,000. Intech Investment Management LLC purchased a new stake in Phillips Edison & Company, Inc. during the third quarter worth about $877,000. Citigroup Inc. grew its position in Phillips Edison & Company, Inc. by 44.6% during the third quarter. Citigroup Inc. now owns 177,569 shares of the company’s stock worth $6,696,000 after buying an additional 54,800 shares during the period. Daiwa Securities Group Inc. grew its position in Phillips Edison & Company, Inc. by 6.9% during the third quarter. Daiwa Securities Group Inc. now owns 40,835 shares of the company’s stock worth $1,540,000 after buying an additional 2,640 shares during the period. Finally, Bank of Montreal Can increased its holdings in Phillips Edison & Company, Inc. by 609.1% in the third quarter. Bank of Montreal Can now owns 89,300 shares of the company’s stock valued at $3,327,000 after buying an additional 76,706 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price target on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Mizuho reduced their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. Finally, Wells Fargo & Company lowered their target price on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.83.

Phillips Edison & Company, Inc. Price Performance

PECO stock opened at $35.96 on Friday. The company’s 50 day simple moving average is $36.10 and its 200-day simple moving average is $37.26. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The firm has a market capitalization of $4.50 billion, a PE ratio of 71.92, a P/E/G ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. As a group, sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Tuesday, April 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 246.00%.

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.