Ameriprise Financial Inc. Sells 20,892 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Ameriprise Financial Inc. reduced its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 401,131 shares of the company’s stock after selling 20,892 shares during the quarter. Ameriprise Financial Inc. owned about 0.33% of Phillips Edison & Company, Inc. worth $15,027,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. American Trust Investment Advisors LLC raised its holdings in Phillips Edison & Company, Inc. by 26.9% in the 4th quarter. American Trust Investment Advisors LLC now owns 20,120 shares of the company’s stock valued at $754,000 after acquiring an additional 4,260 shares during the period. 4WEALTH Advisors Inc. bought a new position in Phillips Edison & Company, Inc. in the 4th quarter valued at about $243,000. Kapitalo Investimentos Ltda bought a new position in Phillips Edison & Company, Inc. in the 4th quarter valued at about $68,000. Northern Trust Corp raised its holdings in Phillips Edison & Company, Inc. by 26.7% in the 4th quarter. Northern Trust Corp now owns 1,690,805 shares of the company’s stock valued at $63,338,000 after acquiring an additional 356,368 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in Phillips Edison & Company, Inc. in the 4th quarter valued at about $2,921,000. 80.70% of the stock is owned by institutional investors.

Phillips Edison & Company, Inc. Trading Up 1.1%

NASDAQ PECO opened at $36.28 on Friday. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 72.56, a P/E/G ratio of 1.70 and a beta of 0.57. The firm’s 50 day simple moving average is $35.39 and its 200 day simple moving average is $36.77. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. The business had revenue of $178.31 million for the quarter, compared to analyst estimates of $170.59 million. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. On average, equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be given a $0.1025 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.23 dividend on an annualized basis and a yield of 3.39%. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 215.79%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PECO. Wells Fargo & Company lowered their price target on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Mizuho decreased their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.83.

Phillips Edison & Company, Inc. Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.