Raymond James & Associates Reduces Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Raymond James & Associates decreased its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,063 shares of the company’s stock after selling 1,574 shares during the period. Raymond James & Associates’ holdings in Phillips Edison & Company, Inc. were worth $914,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PECO. Public Employees Retirement System of Ohio increased its holdings in shares of Phillips Edison & Company, Inc. by 46.4% in the third quarter. Public Employees Retirement System of Ohio now owns 868 shares of the company’s stock worth $29,000 after purchasing an additional 275 shares during the period. Creative Financial Designs Inc. ADV increased its stake in Phillips Edison & Company, Inc. by 207.4% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,543 shares of the company’s stock valued at $56,000 after acquiring an additional 1,041 shares during the last quarter. Legacy Financial Group LLC bought a new position in Phillips Edison & Company, Inc. in the third quarter valued at $64,000. Orrstown Financial Services Inc. bought a new position in Phillips Edison & Company, Inc. in the fourth quarter valued at $233,000. Finally, Kestra Private Wealth Services LLC bought a new position in shares of Phillips Edison & Company, Inc. during the third quarter valued at about $215,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Trading Up 0.8 %

Phillips Edison & Company, Inc. stock opened at $33.27 on Tuesday. The firm has a 50-day moving average of $34.72 and a 200-day moving average of $35.06. The firm has a market cap of $4.07 billion, a P/E ratio of 72.33, a P/E/G ratio of 3.72 and a beta of 0.55. Phillips Edison & Company, Inc. has a 1-year low of $27.85 and a 1-year high of $37.92.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be issued a dividend of $0.0975 per share. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, April 12th. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 254.35%.

Analyst Upgrades and Downgrades

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

Phillips Edison & Company, Inc. Company 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.