Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by Ignite Planners LLC

Ignite Planners LLC reduced its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 13.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,486 shares of the company’s stock after selling 1,815 shares during the period. Ignite Planners LLC’s holdings in Phillips Edison & Company, Inc. were worth $433,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PECO. Duff & Phelps Investment Management Co. purchased a new stake in shares of Phillips Edison & Company, Inc. during the 2nd quarter worth $32,120,000. Cetera Investment Advisers lifted its position in shares of Phillips Edison & Company, Inc. by 240.9% during the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after purchasing an additional 826,891 shares during the last quarter. GRS Advisors LLC purchased a new stake in shares of Phillips Edison & Company, Inc. during the 4th quarter worth $26,042,000. Vanguard Group Inc. lifted its position in shares of Phillips Edison & Company, Inc. by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after purchasing an additional 577,445 shares during the last quarter. Finally, Cetera Advisors LLC lifted its position in shares of Phillips Edison & Company, Inc. by 60.4% during the 1st quarter. Cetera Advisors LLC now owns 791,147 shares of the company’s stock worth $28,378,000 after purchasing an additional 297,945 shares during the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ:PECO opened at $36.19 on Wednesday. The company has a 50-day simple moving average of $36.58 and a 200-day simple moving average of $34.28. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $39.08. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 78.67, a PEG ratio of 3.47 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its 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). Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The business had revenue of $161.52 million during the quarter, compared to analysts’ expectations of $156.29 million. During the same period in the previous year, the company posted $0.59 earnings per share. Phillips Edison & Company, Inc.’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, research 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 monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be issued a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.40%. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, October 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 267.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PECO shares. Compass Point lifted 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 research 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 boosted their price target for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Finally, Mizuho boosted their price target on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.