Victory Capital Management Inc. Reduces Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Victory Capital Management Inc. cut its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 4.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,209 shares of the company’s stock after selling 1,473 shares during the quarter. Victory Capital Management Inc.’s holdings in Phillips Edison & Company, Inc. were worth $1,252,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PECO. First Heartland Consultants Inc. grew its stake in shares of Phillips Edison & Company, Inc. by 12.3% in the third quarter. First Heartland Consultants Inc. now owns 10,663 shares of the company’s stock valued at $402,000 after buying an additional 1,170 shares in the last quarter. Entropy Technologies LP acquired a new position in Phillips Edison & Company, Inc. in the 3rd quarter valued at about $712,000. Los Angeles Capital Management LLC purchased a new stake in Phillips Edison & Company, Inc. during the third quarter worth about $921,000. Global Wealth Management Investment Advisory Inc. lifted its position in shares of Phillips Edison & Company, Inc. by 43.1% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 10,040 shares of the company’s stock worth $379,000 after purchasing an additional 3,026 shares in the last quarter. Finally, World Equity Group Inc. acquired a new stake in shares of Phillips Edison & Company, Inc. during the third quarter worth about $224,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Compass Point boosted their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Wednesday, November 13th. Mizuho raised their price target on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price objective 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 three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $38.43.

Phillips Edison & Company, Inc. Stock Up 0.2 %

NASDAQ:PECO opened at $39.43 on Wednesday. The business’s 50-day moving average price is $37.80 and its 200 day moving average price is $35.31. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $39.98. The firm has a market cap of $4.83 billion, a P/E ratio of 85.72, a PEG ratio of 3.61 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $165.50 million during the quarter, compared to analyst estimates of $157.20 million. During the same period in the prior year, the business posted $0.58 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a $0.1025 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a yield of 3.12%. Phillips Edison & Company, Inc.’s payout ratio is presently 267.39%.

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.