PNC Financial Services Group Inc. Lowers Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

PNC Financial Services Group Inc. reduced its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 37.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,480 shares of the company’s stock after selling 1,511 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Phillips Edison & Company, Inc. were worth $93,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new position in Phillips Edison & Company, Inc. during the 4th quarter worth $488,000. Barclays PLC boosted its stake in shares of Phillips Edison & Company, Inc. by 49.2% in the 3rd quarter. Barclays PLC now owns 279,432 shares of the company’s stock valued at $10,538,000 after buying an additional 92,129 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Phillips Edison & Company, Inc. by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company’s stock worth $80,371,000 after buying an additional 51,186 shares in the last quarter. Duff & Phelps Investment Management Co. increased its stake in shares of Phillips Edison & Company, Inc. by 50.1% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock worth $55,589,000 after buying an additional 492,160 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Phillips Edison & Company, Inc. by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 595,165 shares of the company’s stock valued at $22,295,000 after acquiring an additional 17,235 shares in the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Stock Performance

PECO opened at $35.65 on Wednesday. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $40.12. The stock has a market capitalization of $4.46 billion, a P/E ratio of 71.30, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. The business’s 50-day simple moving average is $36.09 and its 200-day simple moving average is $37.29.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, topping the consensus estimate 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%. On average, equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a $0.1025 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.23 annualized dividend and a yield of 3.45%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 246.00%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Mizuho lowered their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. Wells Fargo & Company lowered their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their price target on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Phillips Edison & Company, Inc. Company 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.