7,073 Shares in Phillips Edison & Company, Inc. (NASDAQ:PECO) Bought by Redpoint Investment Management Pty Ltd

Redpoint Investment Management Pty Ltd purchased a new stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 7,073 shares of the company’s stock, valued at approximately $236,000.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Phillips Edison & Company, Inc. by 579.0% in the first quarter. Vanguard Group Inc. now owns 10,505,954 shares of the company’s stock worth $361,300,000 after acquiring an additional 8,958,751 shares during the period. Wellington Management Group LLP grew its position in Phillips Edison & Company, Inc. by 313.4% during the 1st quarter. Wellington Management Group LLP now owns 7,725,477 shares of the company’s stock worth $265,679,000 after purchasing an additional 5,856,834 shares during the period. BlackRock Inc. raised its stake in shares of Phillips Edison & Company, Inc. by 443.8% during the 1st quarter. BlackRock Inc. now owns 7,310,113 shares of the company’s stock valued at $251,393,000 after buying an additional 5,965,943 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Phillips Edison & Company, Inc. by 59.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,416,091 shares of the company’s stock valued at $151,870,000 after buying an additional 1,639,482 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Phillips Edison & Company, Inc. by 454.2% in the 1st quarter. State Street Corp now owns 1,964,005 shares of the company’s stock valued at $67,579,000 after buying an additional 1,609,638 shares during the period. 72.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Compass Point reduced their price target on Phillips Edison & Company, Inc. from $36.50 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, June 22nd. Morgan Stanley lifted their target price on shares of Phillips Edison & Company, Inc. from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, August 29th. Credit Suisse Group started coverage on shares of Phillips Edison & Company, Inc. in a report on Wednesday, June 22nd. They set a “neutral” rating and a $34.00 price target on the stock. Finally, Mizuho cut shares of Phillips Edison & Company, Inc. from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a report on Thursday, July 21st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Hold” and a consensus price target of $34.40.

Phillips Edison & Company, Inc. Price Performance

PECO opened at $31.86 on Monday. The firm’s fifty day simple moving average is $33.48 and its two-hundred day simple moving average is $33.77. Phillips Edison & Company, Inc. has a 52-week low of $28.82 and a 52-week high of $36.35. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 109.86, a PEG ratio of 2.02 and a beta of 0.32.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 17th will be issued a $0.0933 dividend. This represents a $1.12 annualized dividend and a yield of 3.51%. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.09. The ex-dividend date is Friday, October 14th. Phillips Edison & Company, Inc.’s payout ratio is presently 386.21%.

Phillips Edison & Company, Inc. Profile

(Get Rating)

Phillips Edison & Company, Inc (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States.

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Institutional Ownership by Quarter for Phillips Edison & Company, Inc. (NASDAQ:PECO)

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