Envestnet Asset Management Inc. Sells 4,718 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Envestnet Asset Management Inc. reduced its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 76,350 shares of the company’s stock after selling 4,718 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of Phillips Edison & Company, Inc. worth $2,786,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings in Phillips Edison & Company, Inc. by 78.1% in the first quarter. Fifth Third Bancorp now owns 732 shares of the company’s stock worth $27,000 after purchasing an additional 321 shares in the last quarter. CX Institutional bought a new stake in Phillips Edison & Company, Inc. in the first quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB increased its holdings in Phillips Edison & Company, Inc. by 79.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the company’s stock worth $50,000 after purchasing an additional 602 shares in the last quarter. State of Wyoming bought a new stake in Phillips Edison & Company, Inc. in the fourth quarter worth approximately $54,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Phillips Edison & Company, Inc. in the fourth quarter worth approximately $68,000. 80.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PECO shares. Mizuho lowered their target price on Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. Barclays started coverage on Phillips Edison & Company, Inc. in a report on Wednesday, July 2nd. They set an “equal weight” rating and a $37.00 price objective for the company. Finally, Wall Street Zen downgraded Phillips Edison & Company, Inc. from a “hold” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.50.

Phillips Edison & Company, Inc. Stock Performance

PECO stock opened at $34.56 on Monday. The company has a market capitalization of $4.33 billion, a P/E ratio of 62.84, a price-to-earnings-growth ratio of 1.21 and a beta of 0.55. Phillips Edison & Company, Inc. has a 52-week low of $32.40 and a 52-week high of $40.12. The business has a 50-day simple moving average of $35.09 and a two-hundred day simple moving average of $35.55.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%. The business had revenue of $173.47 million during the quarter, compared to the consensus estimate of $174.38 million. During the same quarter in the previous year, the business earned $0.59 EPS. The company’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, sell-side 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 business also recently declared a dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th were issued 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 currently 223.64%.

About Phillips Edison & Company, Inc.

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.