WealthPlan Investment Management LLC Makes New Investment in Phillips Edison & Company, Inc. (NASDAQ:PECO)

WealthPlan Investment Management LLC bought a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 7,632 shares of the company’s stock, valued at approximately $248,000.

Other hedge funds have also made changes to their positions in the company. Clearstead Advisors LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter worth approximately $25,000. Hexagon Capital Partners LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter worth approximately $27,000. Mach 1 Financial Group LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter worth approximately $27,000. Pinnacle Bancorp Inc. bought a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter worth approximately $31,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter worth approximately $35,000. Institutional investors own 70.90% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

Shares of Phillips Edison & Company, Inc. stock opened at $30.52 on Friday. The business’s fifty day moving average price is $33.18 and its two-hundred day moving average price is $31.74. The company has a market capitalization of $3.58 billion, a P/E ratio of 72.67, a PEG ratio of 3.74 and a beta of 0.59. 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 firm also recently announced a monthly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 17th will be paid a dividend of $0.093 per share. This represents a $1.12 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Friday, April 14th. Phillips Edison & Company, Inc.’s payout ratio is currently 266.67%.

Wall Street Analysts Forecast Growth

PECO has been the topic of several recent research reports. Credit Suisse Group raised Phillips Edison & Company, Inc. from a “neutral” rating to an “outperform” rating in a report on Monday, January 9th. Mizuho raised their price target 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 research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.