Mutual Advisors LLC Cuts Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Mutual Advisors LLC reduced its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECOFree Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,766 shares of the company’s stock after selling 520 shares during the period. Mutual Advisors LLC’s holdings in Phillips Edison & Company, Inc. were worth $2,144,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. grew its position in shares of Phillips Edison & Company, Inc. by 9.6% in the first quarter. Daiwa Securities Group Inc. now owns 39,557 shares of the company’s stock valued at $1,419,000 after purchasing an additional 3,471 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Phillips Edison & Company, Inc. in the first quarter valued at approximately $114,000. Diversify Advisory Services LLC purchased a new stake in shares of Phillips Edison & Company, Inc. in the first quarter valued at approximately $296,000. Commonwealth Equity Services LLC grew its position in shares of Phillips Edison & Company, Inc. by 1.5% in the first quarter. Commonwealth Equity Services LLC now owns 237,642 shares of the company’s stock valued at $8,524,000 after purchasing an additional 3,485 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Phillips Edison & Company, Inc. by 1.7% in the first quarter. Principal Financial Group Inc. now owns 633,707 shares of the company’s stock valued at $22,731,000 after purchasing an additional 10,767 shares in the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PECO shares. Deutsche Bank Aktiengesellschaft dropped their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. Mizuho dropped their price target on Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Wells Fargo & Company dropped their price target on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating for the company in a research report on Tuesday, May 28th. Finally, Compass Point lowered their price objective on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.43.

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

Phillips Edison & Company, Inc. Stock Performance

Shares of Phillips Edison & Company, Inc. stock opened at $32.10 on Wednesday. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 69.78, a PEG ratio of 3.29 and a beta of 0.56. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $37.92. The stock has a 50 day moving average of $32.24 and a 200 day moving average of $34.01.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be given a $0.0975 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.17 annualized dividend and a yield of 3.64%. Phillips Edison & Company, Inc.’s payout ratio is 254.35%.

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.

Further Reading

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

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