Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by Arizona State Retirement System

Arizona State Retirement System reduced its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECOFree Report) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,819 shares of the company’s stock after selling 580 shares during the quarter. Arizona State Retirement System’s holdings in Phillips Edison & Company, Inc. were worth $1,197,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Clearstead Advisors LLC acquired a new stake in Phillips Edison & Company, Inc. in the 3rd quarter valued at approximately $25,000. Public Employees Retirement System of Ohio increased its position in shares of Phillips Edison & Company, Inc. by 46.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 868 shares of the company’s stock valued at $29,000 after purchasing an additional 275 shares during the period. State of Wyoming acquired a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter valued at $30,000. Hibernia Wealth Partners LLC acquired a new position in shares of Phillips Edison & Company, Inc. during the 3rd quarter valued at $37,000. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Phillips Edison & Company, Inc. during the 3rd quarter valued at $42,000. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PECO. Deutsche Bank Aktiengesellschaft began coverage on Phillips Edison & Company, Inc. in a research report on Tuesday, January 30th. They set a “buy” rating and a $41.00 price target on the stock. Mizuho upgraded Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and lifted their price target for the company from $35.00 to $37.00 in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Phillips Edison & Company, Inc. presently has a consensus rating of “Hold” and a consensus target price of $38.14.

Read Our Latest Research Report on PECO

Phillips Edison & Company, Inc. Stock Down 0.8 %

Shares of Phillips Edison & Company, Inc. stock opened at $32.93 on Monday. The stock has a market cap of $4.02 billion, a PE ratio of 71.59, a price-to-earnings-growth ratio of 3.71 and a beta of 0.55. The business has a fifty day simple moving average of $34.99 and a 200-day simple moving average of $35.08. Phillips Edison & Company, Inc. has a 12 month low of $27.85 and a 12 month high of $37.92.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a $0.0975 dividend. This represents a $1.17 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Friday, April 12th. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 254.35%.

Phillips Edison & Company, Inc. Company 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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