Allspring Global Investments Holdings LLC Lowers Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Allspring Global Investments Holdings LLC decreased its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 6.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,156 shares of the company’s stock after selling 863 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Phillips Edison & Company, Inc. were worth $444,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PECO. Fifth Third Bancorp increased its holdings in Phillips Edison & Company, Inc. by 78.1% in the 1st quarter. Fifth Third Bancorp now owns 732 shares of the company’s stock valued at $27,000 after purchasing an additional 321 shares in the last quarter. CX Institutional acquired a new position in Phillips Edison & Company, Inc. during the 1st quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Phillips Edison & Company, Inc. by 79.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the company’s stock worth $50,000 after acquiring an additional 602 shares during the period. State of Wyoming acquired a new stake in Phillips Edison & Company, Inc. in the fourth quarter valued at approximately $54,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Phillips Edison & Company, Inc. in the fourth quarter valued at approximately $68,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays initiated coverage on shares of Phillips Edison & Company, Inc. in a research report on Wednesday, July 2nd. They set an “equal weight” rating and a $37.00 target price on the stock. Wells Fargo & Company cut their price objective 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $38.67.

Phillips Edison & Company, Inc. Trading Down 0.1%

Shares of NASDAQ:PECO opened at $34.55 on Friday. The firm has a market cap of $4.33 billion, a PE ratio of 60.62, a price-to-earnings-growth ratio of 1.21 and a beta of 0.55. The company has a fifty day simple moving average of $35.29 and a 200 day simple moving average of $35.78. Phillips Edison & Company, Inc. has a 12-month low of $32.40 and a 12-month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Thursday, April 24th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 10.51% and a return on equity of 2.73%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 EPS. As a group, equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

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