Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 48.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,682 shares of the company’s stock after selling 32,976 shares during the period. Victory Capital Management Inc.’s holdings in Phillips Edison & Company, Inc. were worth $1,134,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new position in shares of Phillips Edison & Company, Inc. in the 2nd quarter valued at approximately $26,000. Creekmur Asset Management LLC acquired a new position in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at approximately $32,000. Hobbs Group Advisors LLC acquired a new position in shares of Phillips Edison & Company, Inc. in the 2nd quarter valued at approximately $39,000. Quadrant Capital Group LLC raised its position 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 purchasing an additional 790 shares in the last quarter. Finally, PFG Private Wealth Management LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 2nd quarter valued at approximately $62,000. 80.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PECO. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft lowered their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. Compass Point boosted their price target on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Finally, Mizuho boosted their price target on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Phillips Edison & Company, Inc. presently has an average rating of “Hold” and an average price target of $37.50.

Phillips Edison & Company, Inc. Price Performance

Shares of PECO opened at $38.54 on Friday. The company has a market cap of $4.72 billion, a P/E ratio of 83.78, a PEG ratio of 3.64 and a beta of 0.57. The stock has a fifty day moving average price of $35.77 and a 200 day moving average price of $34.12. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). The company had revenue of $161.52 million for the quarter, compared to the consensus estimate of $156.29 million. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. Phillips Edison & Company, Inc.’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.59 earnings per share. As a group, research analysts anticipate that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be paid a $0.1025 dividend. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date is Tuesday, October 15th. This represents a $1.23 annualized dividend and a dividend yield of 3.19%. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 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.