Atria Wealth Solutions Inc. Boosts Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Atria Wealth Solutions Inc. raised its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 13.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 71,218 shares of the company’s stock after acquiring an additional 8,327 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Phillips Edison & Company, Inc. were worth $2,598,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PECO. Handelsbanken Fonder AB lifted its holdings in Phillips Edison & Company, Inc. by 26.9% during the third quarter. Handelsbanken Fonder AB now owns 31,100 shares of the company’s stock valued at $1,043,000 after purchasing an additional 6,600 shares in the last quarter. Legacy Financial Group LLC purchased a new position in Phillips Edison & Company, Inc. during the third quarter valued at $64,000. Kure Advisory LLC purchased a new position in Phillips Edison & Company, Inc. during the third quarter valued at $289,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Phillips Edison & Company, Inc. by 6.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,662 shares of the company’s stock valued at $1,632,000 after purchasing an additional 2,880 shares in the last quarter. Finally, Castleview Partners LLC lifted its holdings in Phillips Edison & Company, Inc. by 11.9% during the third quarter. Castleview Partners LLC now owns 16,798 shares of the company’s stock valued at $563,000 after purchasing an additional 1,788 shares in the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Trading Down 1.0 %

NASDAQ:PECO opened at $32.61 on Monday. The company’s 50-day moving average price is $34.60 and its 200-day moving average price is $35.04. The company has a market cap of $3.98 billion, a P/E ratio of 70.89, a P/E/G ratio of 3.69 and a beta of 0.55. Phillips Edison & Company, Inc. has a twelve month low of $27.85 and a twelve month high of $37.92.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a dividend of $0.0975 per share. The ex-dividend date is Friday, April 12th. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.17 dividend on an annualized basis and a yield of 3.59%. Phillips Edison & Company, Inc.’s payout ratio is 254.35%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective 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. Mizuho raised 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 research note on Friday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft began 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $38.14.

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.