AdvisorNet Financial Inc Has $53,000 Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

AdvisorNet Financial Inc lowered its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) by 52.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,580 shares of the company’s stock after selling 1,777 shares during the quarter. AdvisorNet Financial Inc’s holdings in Phillips Edison & Company, Inc. were worth $53,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. GoalVest Advisory LLC acquired a new position in Phillips Edison & Company, Inc. in the second quarter worth $61,000. Amalgamated Bank bought a new stake in shares of Phillips Edison & Company, Inc. during the first quarter worth $499,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Phillips Edison & Company, Inc. during the first quarter worth $623,000. J.W. Cole Advisors Inc. bought a new stake in shares of Phillips Edison & Company, Inc. during the first quarter worth $5,941,000. Finally, Bank of America Corp DE raised its position in shares of Phillips Edison & Company, Inc. by 37.7% during the first quarter. Bank of America Corp DE now owns 65,165 shares of the company’s stock worth $2,242,000 after acquiring an additional 17,853 shares during the last quarter. Institutional investors and hedge funds own 72.52% of the company’s stock.

Wall Street Analyst Weigh In

PECO has been the subject of a number of recent research reports. Mizuho downgraded Phillips Edison & Company, Inc. from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a research report on Thursday, July 21st. Compass Point dropped their target price on Phillips Edison & Company, Inc. from $36.50 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, June 22nd. 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 report on Monday, August 29th. Finally, Credit Suisse Group assumed coverage on Phillips Edison & Company, Inc. in a report on Wednesday, June 22nd. They issued a “neutral” rating and a $34.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Phillips Edison & Company, Inc. presently has a consensus rating of “Hold” and an average target price of $34.40.

Phillips Edison & Company, Inc. Trading Down 2.5 %

NASDAQ PECO opened at $29.53 on Friday. Phillips Edison & Company, Inc. has a 12 month low of $28.82 and a 12 month high of $36.35. The stock has a 50-day simple moving average of $33.17 and a 200 day simple moving average of $33.67. The company has a market capitalization of $3.35 billion, a PE ratio of 101.83, a P/E/G ratio of 1.95 and a beta of 0.32.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 17th will be issued a $0.0933 dividend. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.09. This represents a $1.12 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Friday, October 14th. Phillips Edison & Company, Inc.’s dividend payout ratio is 386.21%.

About Phillips Edison & Company, Inc.

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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.

See Also

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

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