Blue Trust Inc. Boosts Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Blue Trust Inc. lifted its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 160.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,095 shares of the company’s stock after buying an additional 1,290 shares during the quarter. Blue Trust Inc.’s holdings in Phillips Edison & Company, Inc. were worth $75,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Illinois Municipal Retirement Fund raised its holdings in shares of Phillips Edison & Company, Inc. by 0.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 67,554 shares of the company’s stock valued at $2,423,000 after buying an additional 372 shares during the period. Maryland State Retirement & Pension System increased its holdings in Phillips Edison & Company, Inc. by 1.2% during the 1st quarter. Maryland State Retirement & Pension System now owns 43,970 shares of the company’s stock worth $1,577,000 after purchasing an additional 502 shares during the period. Louisiana State Employees Retirement System increased its holdings in Phillips Edison & Company, Inc. by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 60,400 shares of the company’s stock worth $2,167,000 after purchasing an additional 600 shares during the period. Accel Wealth Management increased its holdings in Phillips Edison & Company, Inc. by 2.3% during the 1st quarter. Accel Wealth Management now owns 31,142 shares of the company’s stock worth $1,117,000 after purchasing an additional 686 shares during the period. Finally, American International Group Inc. increased its holdings in Phillips Edison & Company, Inc. by 1.1% during the 1st quarter. American International Group Inc. now owns 65,003 shares of the company’s stock worth $2,332,000 after purchasing an additional 699 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Performance

PECO opened at $35.71 on Thursday. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $37.92. The company has a market cap of $4.37 billion, a P/E ratio of 77.63, a PEG ratio of 3.28 and a beta of 0.56. The business’s 50-day simple moving average is $33.78 and its 200-day simple moving average is $33.76.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). The business had revenue of $161.52 million during the quarter, compared to analysts’ expectations of $156.29 million. Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. As a group, analysts predict that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be paid a $0.097 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Thursday, August 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 254.35%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PECO. Deutsche Bank Aktiengesellschaft cut their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Mizuho upped their price target on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday. Wells Fargo & Company cut their price target on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating on the stock in a report on Tuesday, May 28th. Finally, Compass Point dropped their price objective on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $36.83.

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.