Daiwa Securities Group Inc. Lowers Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Daiwa Securities Group Inc. lowered its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,086 shares of the company’s stock after selling 1,415 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Phillips Edison & Company, Inc. were worth $1,316,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Canton Hathaway LLC grew its holdings in shares of Phillips Edison & Company, Inc. by 150.4% during the fourth quarter. Canton Hathaway LLC now owns 6,274 shares of the company’s stock worth $229,000 after buying an additional 3,768 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Phillips Edison & Company, Inc. by 5.5% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 138,943 shares of the company’s stock valued at $5,069,000 after purchasing an additional 7,304 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Phillips Edison & Company, Inc. in the fourth quarter valued at about $2,182,000. Koshinski Asset Management Inc. lifted its position in Phillips Edison & Company, Inc. by 54.5% in the fourth quarter. Koshinski Asset Management Inc. now owns 113,307 shares of the company’s stock valued at $4,133,000 after purchasing an additional 39,961 shares during the period. Finally, Cerity Partners LLC lifted its position in Phillips Edison & Company, Inc. by 30.4% in the fourth quarter. Cerity Partners LLC now owns 35,510 shares of the company’s stock valued at $1,295,000 after purchasing an additional 8,284 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Trading Up 0.7 %

PECO stock opened at $33.49 on Wednesday. The firm has a 50 day moving average of $34.70 and a 200-day moving average of $35.06. Phillips Edison & Company, Inc. has a 12-month low of $27.85 and a 12-month high of $37.92. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 72.81, a PEG ratio of 3.75 and a beta of 0.55.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a dividend of $0.0975 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.49%. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date is Friday, April 12th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 254.35%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PECO shares. JPMorgan Chase & Co. reduced their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday, January 30th. They issued a “buy” rating and a $41.00 price objective for the company. Finally, Mizuho upgraded shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and raised their price objective for the company from $35.00 to $37.00 in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Phillips Edison & Company, Inc. has an average rating of “Hold” and a consensus target price of $38.14.

Phillips Edison & Company, Inc. 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.