Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 604,480 shares of the company’s stock after selling 29,227 shares during the period. Principal Financial Group Inc. owned about 0.49% of Phillips Edison & Company, Inc. worth $19,773,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. lifted its holdings in shares of Phillips Edison & Company, Inc. by 11.6% in the 4th quarter. NBC Securities Inc. now owns 9,670 shares of the company’s stock worth $352,000 after purchasing an additional 1,003 shares during the last quarter. GRS Advisors LLC bought a new stake in Phillips Edison & Company, Inc. in the fourth quarter valued at $26,042,000. Coppell Advisory Solutions Corp. bought a new stake in Phillips Edison & Company, Inc. in the first quarter valued at $607,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Phillips Edison & Company, Inc. by 67.1% during the second quarter. Harbor Capital Advisors Inc. now owns 77,686 shares of the company’s stock valued at $2,541,000 after acquiring an additional 31,189 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of 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 worth $41,971,000 after acquiring an additional 826,891 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Price Performance

Phillips Edison & Company, Inc. stock opened at $36.81 on Wednesday. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $37.92. The stock has a market capitalization of $4.51 billion, a PE ratio of 80.02, a price-to-earnings-growth ratio of 3.51 and a beta of 0.56. The firm has a 50 day simple moving average of $34.58 and a 200-day simple moving average of $33.88.

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 analysts’ consensus estimates of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The firm had revenue of $161.52 million during the quarter, compared to analyst estimates of $156.29 million. During the same quarter last year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts forecast that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be issued a dividend of $0.097 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Thursday, August 15th. Phillips Edison & Company, Inc.’s payout ratio is currently 254.35%.

Analyst Ratings Changes

PECO has been the topic of several recent research reports. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft cut their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Finally, Mizuho increased their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.33.

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.