Mutual of America Capital Management LLC Sells 2,121 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Mutual of America Capital Management LLC trimmed its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 76,472 shares of the company’s stock after selling 2,121 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Phillips Edison & Company, Inc. were worth $2,790,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PECO. Raymond James & Associates bought a new stake in shares of Phillips Edison & Company, Inc. in the 1st quarter valued at about $935,000. Bank of New York Mellon Corp raised its holdings in shares of Phillips Edison & Company, Inc. by 395.2% in the 1st quarter. Bank of New York Mellon Corp now owns 464,380 shares of the company’s stock valued at $15,970,000 after purchasing an additional 370,609 shares during the period. HighTower Advisors LLC raised its holdings in shares of Phillips Edison & Company, Inc. by 113.0% in the 1st quarter. HighTower Advisors LLC now owns 21,301 shares of the company’s stock valued at $733,000 after purchasing an additional 11,301 shares during the period. Citigroup Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 7.6% in the 1st quarter. Citigroup Inc. now owns 53,264 shares of the company’s stock valued at $1,832,000 after purchasing an additional 3,775 shares during the period. Finally, PNC Financial Services Group Inc. bought a new stake in shares of Phillips Edison & Company, Inc. in the 1st quarter valued at about $99,000. 80.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Phillips Edison & Company, Inc. in a research note on Tuesday, January 30th. They issued a “buy” rating and a $41.00 price target on the stock. Finally, Mizuho upgraded shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and upped their price target for the company from $35.00 to $37.00 in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of “Hold” and an average price target of $38.14.

Phillips Edison & Company, Inc. Stock Up 1.2 %

Shares of NASDAQ:PECO opened at $32.41 on Friday. The company’s 50 day moving average price is $34.80 and its two-hundred day moving average price is $35.03. Phillips Edison & Company, Inc. has a 12-month low of $27.85 and a 12-month high of $37.92. The firm has a market cap of $3.96 billion, a PE ratio of 70.46, a PEG ratio of 3.65 and a beta of 0.55.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a dividend of $0.0975 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, April 12th. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 254.35%.

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.