Wellington Management Group LLP Decreases Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Wellington Management Group LLP trimmed its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,083,622 shares of the company’s stock after selling 85,462 shares during the quarter. Wellington Management Group LLP owned approximately 6.62% of Phillips Edison & Company, Inc. worth $294,891,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PECO. Norges Bank bought a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter worth approximately $48,562,000. GRS Advisors LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the fourth quarter valued at $26,042,000. Dimensional Fund Advisors LP lifted its position in shares of Phillips Edison & Company, Inc. by 33.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 918,665 shares of the company’s stock valued at $33,513,000 after buying an additional 232,191 shares during the last quarter. FMR LLC grew its stake in shares of Phillips Edison & Company, Inc. by 4.0% during the 3rd quarter. FMR LLC now owns 4,874,206 shares of the company’s stock worth $163,481,000 after acquiring an additional 186,651 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Phillips Edison & Company, Inc. by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,872,476 shares of the company’s stock worth $68,308,000 after acquiring an additional 145,078 shares during the last quarter. 80.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on PECO. Mizuho cut their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Wells Fargo & Company dropped their price objective on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating for the company in a research note on Tuesday, May 28th. Finally, Compass Point dropped their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $37.43.

Phillips Edison & Company, Inc. Trading Down 1.1 %

NASDAQ:PECO opened at $31.89 on Tuesday. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $37.92. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 69.33, a P/E/G ratio of 3.26 and a beta of 0.56. The company has a 50-day moving average price of $32.41 and a 200-day moving average price of $34.45.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 17th will be issued a dividend of $0.0975 per share. The ex-dividend date is Monday, June 17th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.67%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 254.35%.

Phillips Edison & Company, Inc. 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.