7,073 Shares in Phillips Edison & Company, Inc. (NASDAQ:PECO) Purchased by Redpoint Investment Management Pty Ltd

Redpoint Investment Management Pty Ltd purchased a new position in Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,073 shares of the company’s stock, valued at approximately $236,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV bought a new position in shares of Phillips Edison & Company, Inc. during the 1st quarter valued at about $25,000. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Phillips Edison & Company, Inc. in the first quarter worth about $25,000. Lloyd Advisory Services LLC. bought a new position in Phillips Edison & Company, Inc. during the first quarter valued at approximately $26,000. Rise Advisors LLC purchased a new position in Phillips Edison & Company, Inc. during the 1st quarter valued at approximately $29,000. Finally, Kozak & Associates Inc. purchased a new position in Phillips Edison & Company, Inc. during the 4th quarter valued at approximately $31,000. 72.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley increased their target price on Phillips Edison & Company, Inc. from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday, August 29th. Mizuho cut shares of 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. Compass Point decreased their target price on shares of Phillips Edison & Company, Inc. from $36.50 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 22nd. Finally, Credit Suisse Group began coverage on shares of Phillips Edison & Company, Inc. in a report on Wednesday, June 22nd. They issued a “neutral” rating and a $34.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $34.40.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO opened at $31.86 on Monday. The company’s fifty day simple moving average is $33.48 and its 200-day simple moving average is $33.77. The company has a market cap of $3.61 billion, a P/E ratio of 109.86, a P/E/G ratio of 2.02 and a beta of 0.32. Phillips Edison & Company, Inc. has a twelve month low of $28.82 and a twelve month high of $36.35.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 17th will be given a $0.0933 dividend. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.09. This represents a $1.12 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Friday, October 14th. Phillips Edison & Company, Inc.’s dividend payout ratio is 386.21%.

Phillips Edison & Company, Inc. Company 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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