Phillips Edison & Company, Inc. (NASDAQ:PECO) Declares Dividend Increase – $0.10 Per Share

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Tuesday, September 5th, Zacks reports. Investors of record on Friday, September 15th will be paid a dividend of 0.097 per share on Monday, October 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Thursday, September 14th. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.09.

Phillips Edison & Company, Inc. Stock Up 0.9 %

NASDAQ:PECO traded up $0.30 during mid-day trading on Wednesday, hitting $34.36. 125,801 shares of the company traded hands, compared to its average volume of 845,444. The stock’s fifty day moving average price is $34.56 and its 200-day moving average price is $32.59. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 74.83, a price-to-earnings-growth ratio of 3.25 and a beta of 0.66. Phillips Edison & Company, Inc. has a one year low of $27.07 and a one year high of $36.46.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PECO. Wolfe Research downgraded Phillips Edison & Company, Inc. from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 5th. The Goldman Sachs Group increased their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Mizuho upped their target price on shares of Phillips Edison & Company, Inc. from $30.00 to $35.00 in a report on Thursday, July 20th. Wells Fargo & Company began coverage on Phillips Edison & Company, Inc. in a research note on Tuesday, May 23rd. They issued an “equal weight” rating and a $31.00 price target for the company. Finally, Compass Point upped their price objective on Phillips Edison & Company, Inc. from $32.00 to $36.00 in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. has an average rating of “Hold” and an average price target of $35.60.

Institutional Investors Weigh In On Phillips Edison & Company, Inc.

A number of hedge funds have recently made changes to their positions in PECO. Raymond James & Associates bought a new stake in Phillips Edison & Company, Inc. in the 1st quarter worth approximately $935,000. Bank of New York Mellon Corp increased its position in Phillips Edison & Company, Inc. by 395.2% in the first quarter. Bank of New York Mellon Corp now owns 464,380 shares of the company’s stock worth $15,970,000 after purchasing an additional 370,609 shares during the last quarter. HighTower Advisors LLC raised its stake in Phillips Edison & Company, Inc. by 113.0% during the first quarter. HighTower Advisors LLC now owns 21,301 shares of the company’s stock valued at $733,000 after purchasing an additional 11,301 shares in the last quarter. Citigroup Inc. lifted its position in Phillips Edison & Company, Inc. by 7.6% during the first quarter. Citigroup Inc. now owns 53,264 shares of the company’s stock valued at $1,832,000 after purchasing an additional 3,775 shares during the last quarter. Finally, PNC Financial Services Group Inc. purchased a new position in shares of Phillips Edison & Company, Inc. in the 1st quarter worth $99,000. 83.48% of the stock is currently owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.