Sumitomo Mitsui Trust Holdings Inc. Sells 3,035 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECOFree Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 135,908 shares of the company’s stock after selling 3,035 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.11% of Phillips Edison & Company, Inc. worth $4,875,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Phillips Edison & Company, Inc. by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 18,759,585 shares of the company’s stock worth $684,350,000 after acquiring an additional 266,832 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Phillips Edison & Company, Inc. by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,872,476 shares of the company’s stock worth $68,308,000 after acquiring an additional 145,078 shares in the last quarter. Norges Bank acquired a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at about $48,562,000. Dimensional Fund Advisors LP raised its stake in shares of Phillips Edison & Company, Inc. by 33.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 918,665 shares of the company’s stock valued at $33,513,000 after purchasing an additional 232,191 shares during the period. Finally, GRS Advisors LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at about $26,042,000. 80.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on PECO shares. Deutsche Bank Aktiengesellschaft dropped their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Wells Fargo & Company dropped their price target on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 28th. Compass Point dropped their price target on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Finally, Mizuho dropped their price target on Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, May 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 presently has a consensus rating of “Hold” and an average target price of $37.43.

View Our Latest Stock Report on PECO

Phillips Edison & Company, Inc. Stock Up 0.9 %

Shares of NASDAQ:PECO opened at $32.38 on Thursday. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $37.92. The stock has a market cap of $3.96 billion, a PE ratio of 70.39, a P/E/G ratio of 3.29 and a beta of 0.56. The business has a 50 day moving average of $32.23 and a 200-day moving average of $33.99.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be issued 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 is Monday, July 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 254.35%.

Phillips Edison & Company, Inc. Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Phillips Edison & Company, Inc. (NASDAQ:PECO)

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