B. Riley Wealth Advisors Inc. Sells 5,544 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

B. Riley Wealth Advisors Inc. lowered its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) by 5.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 103,234 shares of the company’s stock after selling 5,544 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Phillips Edison & Company, Inc. were worth $2,896,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clearstead Advisors LLC bought a new position in Phillips Edison & Company, Inc. during the third quarter worth about $25,000. Hexagon Capital Partners LLC bought a new stake in shares of Phillips Edison & Company, Inc. during the third quarter worth approximately $27,000. Mach 1 Financial Group LLC bought a new stake in shares of Phillips Edison & Company, Inc. during the third quarter worth approximately $27,000. Pinnacle Bancorp Inc. bought a new stake in shares of Phillips Edison & Company, Inc. during the third quarter worth approximately $31,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Phillips Edison & Company, Inc. during the third quarter worth approximately $35,000. Institutional investors own 70.90% of the company’s stock.

Phillips Edison & Company, Inc. Trading Down 2.2 %

Shares of PECO stock opened at $30.69 on Friday. The stock has a market cap of $3.60 billion, a P/E ratio of 73.07, a price-to-earnings-growth ratio of 3.71 and a beta of 0.59. The stock has a 50 day simple moving average of $33.20 and a 200 day simple moving average of $31.76. Phillips Edison & Company, Inc. has a 1 year low of $27.07 and a 1 year high of $36.31.

Phillips Edison & Company, Inc. Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 17th will be paid a $0.093 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, April 14th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 266.67%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PECO. Credit Suisse Group upgraded Phillips Edison & Company, Inc. from a “neutral” rating to an “outperform” rating in a report on Monday, January 9th. Mizuho boosted their price objective on Phillips Edison & Company, Inc. from $33.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, March 1st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of “Hold” and a consensus target price of $34.00.

About Phillips Edison & Company, Inc.

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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.