JPMorgan Chase & Co. Sells 16,214 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

JPMorgan Chase & Co. reduced its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 1.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,131,368 shares of the company’s stock after selling 16,214 shares during the period. JPMorgan Chase & Co. owned approximately 0.92% of Phillips Edison & Company, Inc. worth $42,664,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PECO. Brass Tax Wealth Management Inc. purchased a new position in shares of Phillips Edison & Company, Inc. in the 3rd quarter worth about $378,000. Synovus Financial Corp bought a new position in Phillips Edison & Company, Inc. during the third quarter valued at approximately $376,000. Arete Wealth Advisors LLC raised its stake in shares of Phillips Edison & Company, Inc. by 3.1% during the third quarter. Arete Wealth Advisors LLC now owns 28,392 shares of the company’s stock worth $1,064,000 after acquiring an additional 866 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Phillips Edison & Company, Inc. by 3.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 109,531 shares of the company’s stock valued at $4,131,000 after purchasing an additional 3,797 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Phillips Edison & Company, Inc. by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company’s stock worth $120,347,000 after purchasing an additional 19,205 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Trading Up 1.5 %

NASDAQ:PECO opened at $37.49 on Monday. The company has a 50-day moving average price of $38.61 and a 200-day moving average price of $36.68. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 81.50, a P/E/G ratio of 3.60 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The company had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. During the same quarter last year, the business earned $0.58 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts forecast that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were given a $0.1025 dividend. The ex-dividend date of this dividend was Monday, December 16th. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10. This represents a dividend yield of 3.13%. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 267.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Compass Point boosted their target price 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 raised their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

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.