Brookstone Capital Management Sells 2,465 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Brookstone Capital Management cut its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,914 shares of the company’s stock after selling 2,465 shares during the period. Brookstone Capital Management’s holdings in Phillips Edison & Company, Inc. were worth $1,862,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PECO. Public Employees Retirement System of Ohio lifted its stake in Phillips Edison & Company, Inc. by 46.4% in the 3rd 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 in the last quarter. Creekmur Asset Management LLC bought a new position in Phillips Edison & Company, Inc. in the 4th quarter worth about $32,000. Quadrant Capital Group LLC raised its holdings in shares of Phillips Edison & Company, Inc. by 197.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,190 shares of the company’s stock valued at $43,000 after acquiring an additional 790 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of Phillips Edison & Company, Inc. by 207.4% in the 4th 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 in the last quarter. Finally, GAMMA Investing LLC purchased a new position in shares of Phillips Edison & Company, Inc. during the fourth quarter worth about $73,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Stock Performance

PECO stock opened at $32.71 on Friday. The firm has a market cap of $4.00 billion, a P/E ratio of 71.11, a P/E/G ratio of 3.29 and a beta of 0.56. The firm’s fifty day moving average is $32.29 and its 200 day moving average is $34.25. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $37.92.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be paid a dividend of $0.0975 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.58%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 254.35%.

Wall Street Analysts Forecast Growth

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

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.