Sumitomo Mitsui Trust Group Inc. Reduces Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,944 shares of the company’s stock after selling 1,489 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Phillips Edison & Company, Inc. were worth $4,980,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp increased its holdings in Phillips Edison & Company, Inc. by 0.3% during the 3rd quarter. State Street Corp now owns 7,068,684 shares of the company’s stock worth $267,289,000 after purchasing an additional 18,429 shares during the last quarter. Geode Capital Management LLC increased its holdings in Phillips Edison & Company, Inc. by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company’s stock worth $120,347,000 after purchasing an additional 19,205 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Phillips Edison & Company, Inc. by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock worth $78,977,000 after purchasing an additional 102,519 shares during the last quarter. Duff & Phelps Investment Management Co. increased its holdings in Phillips Edison & Company, Inc. by 50.1% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock worth $55,589,000 after purchasing an additional 492,160 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Phillips Edison & Company, Inc. by 5.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,108,716 shares of the company’s stock worth $41,810,000 after purchasing an additional 56,897 shares during the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PECO. JPMorgan Chase & Co. lowered their price target on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Mizuho boosted their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Wells Fargo & Company lowered their price target on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $39.50.

Phillips Edison & Company, Inc. Price Performance

NASDAQ:PECO opened at $37.24 on Friday. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12. The firm has a market capitalization of $4.57 billion, a P/E ratio of 74.48, a P/E/G ratio of 1.76 and a beta of 0.58. The business has a 50 day simple moving average of $37.21 and a 200 day simple moving average of $37.25.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. Research analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a yield of 3.30%. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 246.00%.

Phillips Edison & Company, Inc. Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.