Proficio Capital Partners LLC Invests $450,000 in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Proficio Capital Partners LLC bought a new position in Phillips Edison & Company, Inc. (NASDAQ:PECO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,025 shares of the company’s stock, valued at approximately $450,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors LLC raised its holdings in shares of Phillips Edison & Company, Inc. by 132.6% during the 3rd quarter. Natixis Advisors LLC now owns 43,782 shares of the company’s stock worth $1,651,000 after acquiring an additional 24,963 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Phillips Edison & Company, Inc. in the third quarter worth $468,000. Intech Investment Management LLC bought a new stake in Phillips Edison & Company, Inc. in the third quarter worth $877,000. Massachusetts Financial Services Co. MA raised its stake in Phillips Edison & Company, Inc. by 5.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,108,716 shares of the company’s stock valued at $41,810,000 after purchasing an additional 56,897 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Phillips Edison & Company, Inc. by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock valued at $78,977,000 after purchasing an additional 102,519 shares during the last quarter. 80.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PECO. Wells Fargo & Company reduced their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Mizuho reduced their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lowered their price objective on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Phillips Edison & Company, Inc. Trading Up 2.4 %

PECO stock opened at $35.77 on Tuesday. The stock has a market cap of $4.48 billion, a PE ratio of 71.54, a P/E/G ratio of 1.70 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. The company has a 50-day moving average price of $36.09 and a 200 day moving average price of $37.30.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. Sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Tuesday, April 15th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 246.00%.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.