Raymond James Financial Services Advisors Inc. Cuts Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Raymond James Financial Services Advisors Inc. reduced its position in Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) by 11.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 53,842 shares of the company’s stock after selling 7,102 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Phillips Edison & Company, Inc. were worth $1,714,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PECO. Clearstead Advisors LLC purchased a new stake in Phillips Edison & Company, Inc. during the third quarter worth approximately $25,000. WFA of San Diego LLC acquired a new position in Phillips Edison & Company, Inc. in the 4th quarter worth $26,000. Mach 1 Financial Group LLC purchased a new position in Phillips Edison & Company, Inc. in the 3rd quarter valued at about $27,000. Hollencrest Capital Management purchased a new stake in shares of Phillips Edison & Company, Inc. during the fourth quarter worth about $28,000. Finally, Parkside Financial Bank & Trust acquired a new position in shares of Phillips Edison & Company, Inc. in the first quarter worth about $48,000. 70.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Phillips Edison & Company, Inc.

In related news, Director Leslie T. Chao acquired 10,000 shares of Phillips Edison & Company, Inc. stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired at an average price of $29.18 per share, with a total value of $291,800.00. Following the completion of the acquisition, the director now directly owns 45,426 shares of the company’s stock, valued at approximately $1,325,530.68. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 7.95% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

NASDAQ:PECO opened at $28.14 on Friday. Phillips Edison & Company, Inc. has a 12-month low of $27.07 and a 12-month high of $35.90. The business has a 50 day simple moving average of $30.75 and a 200 day simple moving average of $31.92. The firm has a market capitalization of $3.30 billion, a P/E ratio of 59.87, a P/E/G ratio of 3.12 and a beta of 0.54.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 17th will be issued a dividend of $0.0933 per share. The ex-dividend date is Friday, July 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.98%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 238.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Mizuho reduced their target price on Phillips Edison & Company, Inc. from $35.00 to $30.00 in a research note on Thursday. Wells Fargo & Company began coverage on Phillips Edison & Company, Inc. in a research note on Tuesday. They set an “equal weight” rating and a $31.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on Phillips Edison & Company, Inc. in a report on Tuesday, March 21st. They issued a “buy” rating and a $38.00 price target for the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $33.17.

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.