Phillips Edison & Company, Inc. (NASDAQ:PECO) Stake Lowered by Spire Wealth Management

Spire Wealth Management lessened its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECOFree Report) by 9.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,281 shares of the company’s stock after selling 3,475 shares during the period. Spire Wealth Management’s holdings in Phillips Edison & Company, Inc. were worth $1,150,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Raymond James & Associates acquired a new stake in Phillips Edison & Company, Inc. during the 1st quarter worth $935,000. Bank of New York Mellon Corp lifted its position in Phillips Edison & Company, Inc. by 395.2% during the 1st quarter. Bank of New York Mellon Corp now owns 464,380 shares of the company’s stock worth $15,970,000 after buying an additional 370,609 shares in the last quarter. HighTower Advisors LLC lifted its position in Phillips Edison & Company, Inc. by 113.0% during the 1st quarter. HighTower Advisors LLC now owns 21,301 shares of the company’s stock worth $733,000 after buying an additional 11,301 shares in the last quarter. Citigroup Inc. increased its stake in shares of Phillips Edison & Company, Inc. by 7.6% during the 1st quarter. Citigroup Inc. now owns 53,264 shares of the company’s stock worth $1,832,000 after purchasing an additional 3,775 shares during the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Phillips Edison & Company, Inc. during the 1st quarter worth about $99,000. Institutional investors and hedge funds own 83.48% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

Shares of Phillips Edison & Company, Inc. stock opened at $34.94 on Wednesday. Phillips Edison & Company, Inc. has a 1 year low of $27.85 and a 1 year high of $37.92. The firm has a market cap of $4.18 billion, a PE ratio of 74.34, a PEG ratio of 3.56 and a beta of 0.56. The company has a 50 day simple moving average of $35.91 and a two-hundred day simple moving average of $35.00.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 15th will be issued a $0.0975 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.35%. Phillips Edison & Company, Inc.’s payout ratio is 248.94%.

Analyst Upgrades and Downgrades

PECO has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Phillips Edison & Company, Inc. from $35.00 to $32.00 and set an “underweight” rating on the stock in a research report on Monday, November 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of Phillips Edison & Company, Inc. in a research note on Tuesday, January 30th. They issued a “buy” rating and a $41.00 price objective for the company. Mizuho decreased their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, December 1st. Finally, BMO Capital Markets increased their price objective on shares of Phillips Edison & Company, Inc. from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $38.00.

View Our Latest Stock Analysis on Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc. Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Phillips Edison & Company, Inc. (NASDAQ:PECO)

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