168,443 Shares in Phillips Edison & Company, Inc. (NASDAQ:PECO) Bought by Cresset Asset Management LLC

Cresset Asset Management LLC purchased a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 168,443 shares of the company’s stock, valued at approximately $5,810,000. Cresset Asset Management LLC owned approximately 0.15% of Phillips Edison & Company, Inc. at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PECO. Creative Financial Designs Inc. ADV bought a new stake in Phillips Edison & Company, Inc. during the first quarter worth $25,000. Jackson Grant Investment Advisers Inc. bought a new position in Phillips Edison & Company, Inc. in the 1st quarter valued at $25,000. Lloyd Advisory Services LLC. bought a new position in Phillips Edison & Company, Inc. in the 1st quarter valued at $26,000. Rise Advisors LLC bought a new position in Phillips Edison & Company, Inc. in the 1st quarter valued at $29,000. Finally, Kozak & Associates Inc. bought a new position in Phillips Edison & Company, Inc. in the 4th quarter valued at $31,000. Institutional investors own 72.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PECO shares. Mizuho downgraded Phillips Edison & Company, Inc. from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research note on Thursday, July 21st. Credit Suisse Group started coverage on Phillips Edison & Company, Inc. in a research note on Wednesday, June 22nd. They issued a “neutral” rating and a $34.00 price objective for the company. Compass Point reduced their price objective on Phillips Edison & Company, Inc. from $36.50 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, June 22nd. Finally, Morgan Stanley upped their price objective on Phillips Edison & Company, Inc. from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, August 29th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $34.40.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ PECO opened at $33.75 on Friday. Phillips Edison & Company, Inc. has a one year low of $28.66 and a one year high of $36.35. The business’s fifty day moving average price is $33.64 and its 200-day moving average price is $33.75. The stock has a market capitalization of $3.83 billion, a PE ratio of 116.38, a P/E/G ratio of 2.14 and a beta of 0.32.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 17th will be given a dividend of $0.0933 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, October 14th. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.09. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 372.41%.

Phillips Edison & Company, Inc. Profile

(Get Rating)

Phillips Edison & Company, Inc (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States.

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Institutional Ownership by Quarter for Phillips Edison & Company, Inc. (NASDAQ:PECO)

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