AdvisorNet Financial Inc Sells 1,777 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

AdvisorNet Financial Inc lowered its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) by 52.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,580 shares of the company’s stock after selling 1,777 shares during the period. AdvisorNet Financial Inc’s holdings in Phillips Edison & Company, Inc. were worth $53,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in PECO. Creative Financial Designs Inc. ADV bought a new position in shares of Phillips Edison & Company, Inc. during the first quarter worth approximately $25,000. Jackson Grant Investment Advisers Inc. bought a new position in shares of Phillips Edison & Company, Inc. during the first quarter worth approximately $25,000. Lloyd Advisory Services LLC. bought a new position in shares of Phillips Edison & Company, Inc. during the first quarter worth approximately $26,000. Rise Advisors LLC bought a new position in shares of Phillips Edison & Company, Inc. during the first quarter worth approximately $29,000. Finally, Kozak & Associates Inc. bought a new position in shares of Phillips Edison & Company, Inc. during the fourth quarter worth approximately $31,000. Institutional investors own 72.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PECO. Credit Suisse Group began coverage on Phillips Edison & Company, Inc. in a research note on Wednesday, June 22nd. They set a “neutral” rating and a $34.00 price objective on the stock. Mizuho lowered Phillips Edison & Company, Inc. from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research note on Thursday, July 21st. Morgan Stanley raised their price objective on Phillips Edison & Company, Inc. from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, August 29th. Finally, Compass Point lowered their price objective on Phillips Edison & Company, Inc. from $36.50 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 22nd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. presently has an average rating of “Hold” and a consensus target price of $34.40.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO stock opened at $29.53 on Friday. The stock’s fifty day moving average price is $33.17 and its two-hundred day moving average price is $33.67. The company has a market cap of $3.35 billion, a PE ratio of 101.83, a P/E/G ratio of 1.95 and a beta of 0.32. Phillips Edison & Company, Inc. has a fifty-two week low of $28.82 and a fifty-two week high of $36.35.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 17th will be issued a $0.0933 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Friday, October 14th. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.09. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 386.21%.

Phillips Edison & Company, Inc. Company 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.

See Also

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

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