Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by American Century Companies Inc.

American Century Companies Inc. reduced its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 37.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 389,473 shares of the company’s stock after selling 233,105 shares during the quarter. American Century Companies Inc. owned about 0.32% of Phillips Edison & Company, Inc. worth $12,740,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. GRS Advisors LLC acquired a new position in shares of Phillips Edison & Company, Inc. during the fourth quarter worth about $26,042,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Phillips Edison & Company, Inc. during the 1st quarter worth approximately $607,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Phillips Edison & Company, Inc. by 67.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 77,686 shares of the company’s stock valued at $2,541,000 after buying an additional 31,189 shares during the period. Cetera Investment Advisers boosted its stake in shares of Phillips Edison & Company, Inc. by 240.9% in the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock valued at $41,971,000 after buying an additional 826,891 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Phillips Edison & Company, Inc. by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 18,759,585 shares of the company’s stock worth $684,350,000 after acquiring an additional 266,832 shares during the period. 80.70% of the stock is owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Stock Down 0.4 %

PECO opened at $38.37 on Friday. The firm has a market cap of $4.70 billion, a P/E ratio of 83.41, a PEG ratio of 3.69 and a beta of 0.57. The business’s fifty day simple moving average is $35.96 and its 200 day simple moving average is $34.17. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $39.08.

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

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors 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. This represents a $1.23 annualized dividend and a yield of 3.21%. The ex-dividend date is Tuesday, October 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 267.40%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Mizuho raised their target price 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. Compass Point boosted their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $37.50.

Phillips Edison & Company, Inc. Company 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.