IHT Wealth Management LLC Raises Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

IHT Wealth Management LLC raised its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) by 3.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 22,032 shares of the company’s stock after acquiring an additional 719 shares during the quarter. IHT Wealth Management LLC’s holdings in Phillips Edison & Company, Inc. were worth $618,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. StrategIQ Financial Group LLC boosted its position in Phillips Edison & Company, Inc. by 7.7% in the 3rd quarter. StrategIQ Financial Group LLC now owns 15,794 shares of the company’s stock valued at $443,000 after buying an additional 1,125 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Phillips Edison & Company, Inc. by 10.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 113,990 shares of the company’s stock valued at $3,197,000 after buying an additional 10,730 shares during the period. Teacher Retirement System of Texas lifted its position in shares of Phillips Edison & Company, Inc. by 8.3% during the 3rd quarter. Teacher Retirement System of Texas now owns 19,698 shares of the company’s stock worth $553,000 after purchasing an additional 1,510 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Phillips Edison & Company, Inc. by 48.9% during the 3rd quarter. SG Americas Securities LLC now owns 49,804 shares of the company’s stock worth $1,397,000 after purchasing an additional 16,359 shares during the last quarter. Finally, Simplicity Wealth LLC purchased a new stake in shares of Phillips Edison & Company, Inc. during the 3rd quarter worth $1,063,000. Hedge funds and other institutional investors own 70.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Credit Suisse Group raised shares of Phillips Edison & Company, Inc. from a “neutral” rating to an “outperform” rating in a research report on Monday, January 9th. Mizuho lifted their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $34.00.

Phillips Edison & Company, Inc. Price Performance

Shares of PECO opened at $30.52 on Friday. Phillips Edison & Company, Inc. has a 1-year low of $27.07 and a 1-year high of $36.31. The stock has a market cap of $3.58 billion, a PE ratio of 72.67, a price-to-earnings-growth ratio of 3.67 and a beta of 0.59. The firm has a fifty day moving average price of $33.18 and a 200 day moving average price of $31.73.

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 given a $0.093 dividend. The ex-dividend date of this dividend is Friday, April 14th. This represents a $1.12 dividend on an annualized basis and a yield of 3.66%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 266.67%.

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.