Truist Financial Corp Acquires 1,328 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Truist Financial Corp increased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) by 7.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,360 shares of the company’s stock after acquiring an additional 1,328 shares during the quarter. Truist Financial Corp’s holdings in Phillips Edison & Company, Inc. were worth $571,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its position in Phillips Edison & Company, Inc. by 579.0% during 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 stake in Phillips Edison & Company, Inc. by 313.4% during the first quarter. Wellington Management Group LLP now owns 7,725,477 shares of the company’s stock worth $265,679,000 after buying an additional 5,856,834 shares in the last quarter. BlackRock Inc. grew its stake in Phillips Edison & Company, Inc. by 443.8% during the first quarter. BlackRock Inc. now owns 7,310,113 shares of the company’s stock worth $251,393,000 after buying an additional 5,965,943 shares in the last quarter. FMR LLC grew its stake in Phillips Edison & Company, Inc. by 13.3% during the second quarter. FMR LLC now owns 5,874,143 shares of the company’s stock worth $196,255,000 after buying an additional 691,059 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Phillips Edison & Company, Inc. by 26.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,592,250 shares of the company’s stock worth $186,837,000 after buying an additional 1,176,159 shares in the last quarter. 70.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Credit Suisse Group upgraded shares of Phillips Edison & Company, Inc. from a “neutral” rating to an “outperform” rating in a research note on Monday, January 9th. Mizuho reduced their price objective on shares of Phillips Edison & Company, Inc. from $35.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, November 11th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.20.

Insider Activity

In related news, Director Paul Massey sold 9,600 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $31.42, for a total value of $301,632.00. Following the completion of the transaction, the director now owns 10,439 shares in the company, valued at approximately $327,993.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 7.90% of the stock is currently owned by corporate insiders.

Phillips Edison & Company, Inc. Trading Up 0.9 %

PECO opened at $32.70 on Monday. The company’s 50 day moving average is $32.13 and its 200-day moving average is $31.86. Phillips Edison & Company, Inc. has a 1-year low of $27.07 and a 1-year high of $36.31. The company has a market cap of $3.83 billion, a P/E ratio of 130.80, a PEG ratio of 2.15 and a beta of 0.59.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th were paid a $0.0933 dividend. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a dividend yield of 3.44%. Phillips Edison & Company, Inc.’s payout ratio is currently 448.00%.

Phillips Edison & Company, Inc. Company Profile

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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.