Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Purchased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,943 shares of the company’s stock after acquiring an additional 7,304 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Phillips Edison & Company, Inc. were worth $5,069,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its position in shares of Phillips Edison & Company, Inc. by 1.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,207,617 shares of the company’s stock valued at $174,663,000 after purchasing an additional 99,383 shares in the last quarter. FMR LLC boosted its stake in Phillips Edison & Company, Inc. by 4.0% during the third quarter. FMR LLC now owns 4,874,206 shares of the company’s stock worth $163,481,000 after buying an additional 186,651 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Phillips Edison & Company, Inc. by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,727,398 shares of the company’s stock valued at $57,937,000 after buying an additional 107,214 shares in the last quarter. Northern Trust Corp increased its stake in shares of Phillips Edison & Company, Inc. by 1.5% in the 3rd quarter. Northern Trust Corp now owns 1,376,392 shares of the company’s stock worth $46,164,000 after acquiring an additional 20,461 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Phillips Edison & Company, Inc. by 2.4% during the 3rd quarter. Rhumbline Advisers now owns 397,515 shares of the company’s stock worth $13,333,000 after acquiring an additional 9,457 shares during the period. Institutional investors and hedge funds own 80.70% of the company’s stock.

Analyst Upgrades and Downgrades

PECO has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft began 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 raised their price target for the stock from $35.00 to $37.00 in a report on Friday, February 23rd. One 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. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $38.14.

Phillips Edison & Company, Inc. Price Performance

Shares of PECO stock opened at $33.49 on Wednesday. Phillips Edison & Company, Inc. has a 1-year low of $27.85 and a 1-year high of $37.92. The firm has a market cap of $4.09 billion, a PE ratio of 72.81, a price-to-earnings-growth ratio of 3.72 and a beta of 0.55. The company has a 50-day moving average of $34.70 and a two-hundred day moving average of $35.06.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be given a dividend of $0.0975 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.49%. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) 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.