Raymond James Financial Services Advisors Inc. Sells 7,102 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Raymond James Financial Services Advisors Inc. trimmed its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) by 11.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,842 shares of the company’s stock after selling 7,102 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Phillips Edison & Company, Inc. were worth $1,714,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PECO. Raymond James & Associates bought a new position in Phillips Edison & Company, Inc. during the first quarter valued at $935,000. Bank of New York Mellon Corp grew its holdings 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 valued at $15,970,000 after purchasing an additional 370,609 shares during the last quarter. HighTower Advisors LLC grew its holdings 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 valued at $733,000 after purchasing an additional 11,301 shares during the last quarter. Citigroup Inc. raised its position in Phillips Edison & Company, Inc. by 7.6% in 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 period. Finally, PNC Financial Services Group Inc. bought a new stake in Phillips Edison & Company, Inc. in the first quarter worth about $99,000. Hedge funds and other institutional investors own 70.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Mizuho cut their price objective on Phillips Edison & Company, Inc. from $35.00 to $30.00 in a research report on Thursday. Wells Fargo & Company started coverage on shares of Phillips Edison & Company, Inc. in a report on Tuesday. They issued an “equal weight” rating and a $31.00 price target on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of Phillips Edison & Company, Inc. in a report on Tuesday, March 21st. They set a “buy” rating and a $38.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Phillips Edison & Company, Inc. has an average rating of “Hold” and an average target price of $33.17.

Insider Buying and Selling

In other news, Director Leslie T. Chao purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was purchased at an average cost of $29.18 per share, for a total transaction of $291,800.00. Following the completion of the transaction, the director now owns 45,426 shares of the company’s stock, valued at $1,325,530.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.95% of the stock is currently owned by insiders.

Phillips Edison & Company, Inc. Trading Down 1.8 %

Phillips Edison & Company, Inc. stock opened at $28.14 on Friday. The stock’s 50 day simple moving average is $30.75 and its two-hundred day simple moving average is $31.92. Phillips Edison & Company, Inc. has a 12 month low of $27.07 and a 12 month high of $35.90. The firm has a market cap of $3.30 billion, a PE ratio of 59.87, a P/E/G ratio of 3.12 and a beta of 0.54.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 17th will be paid a $0.0933 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Friday, July 14th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 238.30%.

Phillips Edison & Company, Inc. Profile

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Phillips Edison & Company, Inc (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States.