Lazard Asset Management LLC Buys 1,875 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Lazard Asset Management LLC boosted its stake in Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) by 222.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,717 shares of the company’s stock after acquiring an additional 1,875 shares during the period. Lazard Asset Management LLC’s holdings in Phillips Edison & Company, Inc. were worth $90,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Ellevest Inc. boosted its holdings in Phillips Edison & Company, Inc. by 3.3% in the second quarter. Ellevest Inc. now owns 10,890 shares of the company’s stock valued at $364,000 after acquiring an additional 344 shares during the last quarter. Strs Ohio boosted its holdings in shares of Phillips Edison & Company, Inc. by 0.3% during the 2nd quarter. Strs Ohio now owns 148,835 shares of the company’s stock worth $4,972,000 after buying an additional 375 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Phillips Edison & Company, Inc. by 6.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 8,411 shares of the company’s stock worth $281,000 after buying an additional 491 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Phillips Edison & Company, Inc. by 18.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 3,722 shares of the company’s stock worth $124,000 after buying an additional 577 shares in the last quarter. Finally, TownSquare Capital LLC boosted its holdings in shares of Phillips Edison & Company, Inc. by 7.2% during the 2nd quarter. TownSquare Capital LLC now owns 15,254 shares of the company’s stock worth $510,000 after buying an additional 1,021 shares in the last quarter. 72.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Paul Massey sold 9,600 shares of the stock in a transaction on Monday, November 21st. The stock was sold at an average price of $31.42, for a total value of $301,632.00. Following the completion of the sale, the director now directly owns 10,439 shares of the company’s stock, valued at approximately $327,993.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 7.90% of the stock is owned by company insiders.

Phillips Edison & Company, Inc. Stock Up 0.4 %

Shares of PECO opened at $32.10 on Thursday. Phillips Edison & Company, Inc. has a 12-month low of $27.07 and a 12-month high of $36.35. The business’s fifty day moving average is $29.78 and its 200 day moving average is $32.23. The stock has a market cap of $3.76 billion, a P/E ratio of 127.84, a P/E/G ratio of 2.12 and a beta of 0.58.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a $0.0933 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Monday, November 14th. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 448.00%.

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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