Independent Advisor Alliance Takes $309,000 Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Independent Advisor Alliance bought a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,478 shares of the company’s stock, valued at approximately $309,000.

Other large investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its position in shares of Phillips Edison & Company, Inc. by 183.9% during the 4th quarter. Quadrant Capital Group LLC now owns 778 shares of the company’s stock worth $25,000 after purchasing an additional 504 shares during the last quarter. Clearstead Advisors LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the third quarter valued at approximately $25,000. CoreCap Advisors LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the fourth quarter worth $33,000. Silicon Valley Capital Partners bought a new position in Phillips Edison & Company, Inc. during the fourth quarter worth $35,000. Finally, Rockefeller Capital Management L.P. raised its stake in Phillips Edison & Company, Inc. by 5,000.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,326 shares of the company’s stock valued at $42,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors own 83.48% of the company’s stock.

Analyst Upgrades and Downgrades

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

Phillips Edison & Company, Inc. Trading Up 2.4 %

Shares of PECO opened at $34.88 on Thursday. The stock has a market cap of $4.09 billion, a PE ratio of 75.83, a PEG ratio of 3.25 and a beta of 0.66. Phillips Edison & Company, Inc. has a 1 year low of $27.07 and a 1 year high of $36.46. The stock has a 50 day simple moving average of $34.56 and a 200-day simple moving average of $32.59.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Monday, October 16th will be given a $0.0975 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 3.35%. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Friday, October 13th. Phillips Edison & Company, Inc.’s dividend payout ratio is 243.48%.

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.