Jane Street Group LLC Trims Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Jane Street Group LLC reduced its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECOFree Report) by 81.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,675 shares of the company’s stock after selling 140,037 shares during the period. Jane Street Group LLC’s holdings in Phillips Edison & Company, Inc. were worth $1,224,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Arizona State Retirement System boosted its position in Phillips Edison & Company, Inc. by 0.8% during the fourth quarter. Arizona State Retirement System now owns 35,534 shares of the company’s stock valued at $1,331,000 after buying an additional 290 shares during the period. FIL Ltd boosted its position in Phillips Edison & Company, Inc. by 17.8% during the fourth quarter. FIL Ltd now owns 2,155 shares of the company’s stock valued at $81,000 after buying an additional 325 shares during the period. State of Alaska Department of Revenue boosted its position in Phillips Edison & Company, Inc. by 0.3% during the fourth quarter. State of Alaska Department of Revenue now owns 128,465 shares of the company’s stock valued at $4,811,000 after buying an additional 344 shares during the period. Exchange Traded Concepts LLC boosted its position in Phillips Edison & Company, Inc. by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 20,185 shares of the company’s stock valued at $756,000 after buying an additional 510 shares during the period. Finally, KBC Group NV boosted its position in Phillips Edison & Company, Inc. by 13.4% during the fourth quarter. KBC Group NV now owns 4,424 shares of the company’s stock valued at $166,000 after buying an additional 522 shares during the period. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Trading Down 2.1%

Phillips Edison & Company, Inc. stock opened at $35.44 on Wednesday. The firm has a 50-day moving average of $35.43 and a 200-day moving average of $36.74. The firm has a market cap of $4.44 billion, a P/E ratio of 70.88, a P/E/G ratio of 1.70 and a beta of 0.57. 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:PECOGet Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. The company had revenue of $178.31 million during the quarter, compared to analyst estimates of $170.59 million. During the same quarter last year, the firm posted $0.60 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Research analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.23 annualized dividend and a yield of 3.47%. Phillips Edison & Company, Inc.’s payout ratio is 215.79%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company dropped their price objective on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Mizuho dropped their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.83.

Read Our Latest Stock Report on PECO

About Phillips Edison & Company, Inc.

(Free Report)

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.

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

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