Amalgamated Bank Reduces Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Amalgamated Bank decreased its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,482 shares of the company’s stock after selling 448 shares during the period. Amalgamated Bank’s holdings in Phillips Edison & Company, Inc. were worth $1,295,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Phillips Edison & Company, Inc. by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 19,322,342 shares of the company’s stock worth $723,815,000 after buying an additional 82,913 shares during the period. Wellington Management Group LLP increased its stake in Phillips Edison & Company, Inc. by 2.2% during the 4th quarter. Wellington Management Group LLP now owns 7,537,917 shares of the company’s stock worth $282,370,000 after buying an additional 161,963 shares during the period. FMR LLC increased its stake in Phillips Edison & Company, Inc. by 14.6% during the 4th quarter. FMR LLC now owns 3,026,358 shares of the company’s stock worth $113,367,000 after buying an additional 385,983 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Phillips Edison & Company, Inc. by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company’s stock worth $80,371,000 after buying an additional 51,186 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Phillips Edison & Company, Inc. by 53.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company’s stock worth $65,084,000 after buying an additional 606,055 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Wall Street Analyst Weigh In

PECO has been the subject of several research analyst reports. Wells Fargo & Company dropped their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Barclays initiated coverage on shares of Phillips Edison & Company, Inc. in a research report on Wednesday, July 2nd. They issued an “equal weight” rating and a $37.00 target price for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.67.

Phillips Edison & Company, Inc. Stock Performance

PECO opened at $34.90 on Tuesday. The company has a 50-day moving average of $35.31 and a 200-day moving average of $35.82. The company has a market capitalization of $4.38 billion, a P/E ratio of 61.23, a PEG ratio of 1.24 and a beta of 0.55. Phillips Edison & Company, Inc. has a 1-year low of $31.98 and a 1-year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its earnings results on Thursday, April 24th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. The company had revenue of $178.31 million during the quarter, compared to the consensus estimate of $170.59 million. Phillips Edison & Company, Inc. had a net margin of 10.51% and a return on equity of 2.73%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. As a group, sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th were paid a dividend of $0.1025 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a yield of 3.5%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 215.79%.

Phillips Edison & Company, Inc. Company 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.