Phillips Edison & Company, Inc. (NASDAQ:PECO) Position Lessened by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC reduced its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 5.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,395 shares of the company’s stock after selling 833 shares during the period. Axxcess Wealth Management LLC’s holdings in Phillips Edison & Company, Inc. were worth $438,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Phillips Edison & Company, Inc. in the fourth quarter worth about $48,562,000. Cetera Investment Advisers increased its stake in Phillips Edison & Company, Inc. by 240.9% during the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock valued at $41,971,000 after acquiring an additional 826,891 shares during the period. GRS Advisors LLC bought a new position in Phillips Edison & Company, Inc. during the fourth quarter valued at about $26,042,000. Vanguard Group Inc. increased its stake in Phillips Edison & Company, Inc. by 3.1% during the first quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock valued at $693,619,000 after acquiring an additional 577,445 shares during the period. Finally, Cetera Advisors LLC grew its stake in shares of Phillips Edison & Company, Inc. by 60.4% in the 1st quarter. Cetera Advisors LLC now owns 791,147 shares of the company’s stock valued at $28,378,000 after purchasing an additional 297,945 shares during the period. Institutional investors and hedge funds own 80.70% of the company’s stock.

Wall Street Analyst Weigh In

PECO has been the topic of several analyst reports. Compass Point upped their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Mizuho upped their price target on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. has a consensus rating of “Hold” and a consensus price target of $37.50.

Phillips Edison & Company, Inc. Trading Down 0.4 %

NASDAQ:PECO opened at $38.37 on Friday. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $39.08. The business’s 50-day moving average price is $35.87 and its two-hundred day moving average price is $34.15. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 83.41, a PEG ratio of 3.69 and a beta of 0.57.

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

Phillips Edison & Company, Inc. Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be paid a $0.1025 dividend. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.23 annualized dividend and a yield of 3.21%. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 267.40%.

About Phillips Edison & Company, Inc.

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.