Envestnet Asset Management Inc. Lowers Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Envestnet Asset Management Inc. lowered its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) by 16.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,591 shares of the company’s stock after selling 9,223 shares during the period. Envestnet Asset Management Inc.’s holdings in Phillips Edison & Company, Inc. were worth $1,623,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PECO. Van ECK Associates Corp purchased a new stake in Phillips Edison & Company, Inc. during the second quarter valued at about $347,000. Accel Wealth Management grew its position in Phillips Edison & Company, Inc. by 37.0% during the second quarter. Accel Wealth Management now owns 33,107 shares of the company’s stock valued at $1,133,000 after acquiring an additional 8,946 shares during the period. Nisa Investment Advisors LLC grew its position in Phillips Edison & Company, Inc. by 23.9% during the second quarter. Nisa Investment Advisors LLC now owns 48,568 shares of the company’s stock valued at $1,623,000 after acquiring an additional 9,372 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Phillips Edison & Company, Inc. during the second quarter valued at about $1,024,000. Finally, AE Wealth Management LLC purchased a new stake in Phillips Edison & Company, Inc. during the second quarter valued at about $11,222,000. Hedge funds and other institutional investors own 72.52% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ PECO opened at $31.56 on Monday. Phillips Edison & Company, Inc. has a 1-year low of $27.07 and a 1-year high of $36.35. The business has a 50-day moving average of $29.85 and a 200-day moving average of $32.27. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 126.24, a PEG ratio of 2.12 and a beta of 0.58.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be given a $0.0933 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Monday, November 14th. Phillips Edison & Company, Inc.’s payout ratio is 448.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PECO shares. Credit Suisse Group lowered their price target on Phillips Edison & Company, Inc. to $32.00 in a research report on Friday, November 4th. Mizuho lowered their price target on Phillips Edison & Company, Inc. from $35.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, November 11th. Finally, Morgan Stanley upped their target price on Phillips Edison & Company, Inc. from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, August 29th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $33.20.

About Phillips Edison & Company, Inc.

(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.

Recommended Stories

Want to see what other hedge funds are holding PECO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating).

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

Receive News & Ratings for Phillips Edison & Company Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips Edison & Company Inc. and related companies with MarketBeat.com's FREE daily email newsletter.