Raymond James & Associates Decreases Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Raymond James & Associates lowered its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 5.9% during the 4th quarter, Holdings Channel reports. The firm owned 25,063 shares of the company’s stock after selling 1,574 shares during the quarter. Raymond James & Associates’ holdings in Phillips Edison & Company, Inc. were worth $914,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its holdings in shares of Phillips Edison & Company, Inc. by 46.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 868 shares of the company’s stock worth $29,000 after buying an additional 275 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings in shares of Phillips Edison & Company, Inc. by 207.4% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,543 shares of the company’s stock worth $56,000 after buying an additional 1,041 shares during the last quarter. Legacy Financial Group LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter worth about $64,000. Kestra Private Wealth Services LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter worth about $215,000. Finally, Orrstown Financial Services Inc. bought a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter worth about $233,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Phillips Edison & Company, Inc. Trading Up 0.8 %

Shares of NASDAQ:PECO opened at $33.27 on Tuesday. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 72.33, a PEG ratio of 3.72 and a beta of 0.55. Phillips Edison & Company, Inc. has a 12 month low of $27.85 and a 12 month high of $37.92. The firm’s 50-day moving average is $34.72 and its 200 day moving average is $35.06.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a dividend of $0.0975 per share. This represents a $1.17 annualized dividend and a yield of 3.52%. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Friday, April 12th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 254.35%.

About Phillips Edison & Company, Inc.

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.