Macquarie Group Ltd. Decreases Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Macquarie Group Ltd. cut its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) by 25.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 175,675 shares of the company’s stock after selling 60,630 shares during the quarter. Macquarie Group Ltd. owned 0.15% of Phillips Edison & Company, Inc. worth $4,928,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. StrategIQ Financial Group LLC grew its holdings in shares of Phillips Edison & Company, Inc. by 7.7% in the third quarter. StrategIQ Financial Group LLC now owns 15,794 shares of the company’s stock worth $443,000 after purchasing an additional 1,125 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Phillips Edison & Company, Inc. by 10.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 113,990 shares of the company’s stock worth $3,197,000 after purchasing an additional 10,730 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Phillips Edison & Company, Inc. by 8.3% in the third quarter. Teacher Retirement System of Texas now owns 19,698 shares of the company’s stock worth $553,000 after purchasing an additional 1,510 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Phillips Edison & Company, Inc. by 48.9% in the third quarter. SG Americas Securities LLC now owns 49,804 shares of the company’s stock worth $1,397,000 after purchasing an additional 16,359 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new position in shares of Phillips Edison & Company, Inc. in the third quarter worth approximately $1,063,000. 70.90% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Stock Down 0.8 %

NASDAQ:PECO opened at $33.13 on Wednesday. The stock has a market cap of $3.89 billion, a P/E ratio of 78.88, a price-to-earnings-growth ratio of 3.93 and a beta of 0.59. The firm’s fifty day simple moving average is $33.18 and its 200 day simple moving average is $31.81. Phillips Edison & Company, Inc. has a twelve month low of $27.07 and a twelve month high of $36.31.

Phillips Edison & Company, Inc. Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 15th will be issued a $0.093 dividend. This represents a $1.12 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Tuesday, March 14th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 266.67%.

Wall Street Analysts Forecast Growth

PECO has been the topic of several recent analyst reports. Mizuho raised their target price on shares of Phillips Edison & Company, Inc. from $33.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, March 1st. Credit Suisse Group upgraded shares of Phillips Edison & Company, Inc. from a “neutral” rating to an “outperform” rating in a report on Monday, January 9th. Four 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.00.

Phillips Edison & Company, Inc. Company Profile

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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.