Phillips Edison & Company, Inc. (NASDAQ:PECO) Stake Lessened by Creative Planning

Creative Planning trimmed its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,929 shares of the company’s stock after selling 1,285 shares during the period. Creative Planning’s holdings in Phillips Edison & Company, Inc. were worth $1,845,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Illinois Municipal Retirement Fund raised its holdings in shares of Phillips Edison & Company, Inc. by 0.6% during the first quarter. Illinois Municipal Retirement Fund now owns 67,554 shares of the company’s stock worth $2,423,000 after acquiring an additional 372 shares in the last quarter. Xponance Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 6.3% during the second quarter. Xponance Inc. now owns 7,789 shares of the company’s stock worth $255,000 after acquiring an additional 465 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Phillips Edison & Company, Inc. by 1.2% during the first quarter. Maryland State Retirement & Pension System now owns 43,970 shares of the company’s stock worth $1,577,000 after acquiring an additional 502 shares in the last quarter. Accel Wealth Management raised its holdings in shares of Phillips Edison & Company, Inc. by 2.3% during the first quarter. Accel Wealth Management now owns 31,142 shares of the company’s stock worth $1,117,000 after acquiring an additional 686 shares in the last quarter. Finally, American International Group Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 1.1% during the first quarter. American International Group Inc. now owns 65,003 shares of the company’s stock worth $2,332,000 after acquiring an additional 699 shares in the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ:PECO opened at $36.68 on Tuesday. The company has a market cap of $4.49 billion, a P/E ratio of 79.74, a P/E/G ratio of 3.44 and a beta of 0.57. The stock’s 50-day moving average is $37.13 and its 200-day moving average is $34.49. 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, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The firm had revenue of $165.50 million for the quarter, compared to the consensus estimate of $157.20 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. As a group, equities analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be paid a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 3.35%. This is a positive change 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 payout ratio is currently 267.39%.

Analyst Ratings Changes

Several equities analysts have commented on PECO shares. Mizuho increased their target price on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Compass Point increased their target price 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. Finally, 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 stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $37.50.

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.