US Bancorp DE Sells 2,999 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

US Bancorp DE trimmed its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 36.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,285 shares of the company’s stock after selling 2,999 shares during the period. US Bancorp DE’s holdings in Phillips Edison & Company, Inc. were worth $193,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PECO. Northern Trust Corp raised its position in shares of Phillips Edison & Company, Inc. by 26.7% during the fourth quarter. Northern Trust Corp now owns 1,690,805 shares of the company’s stock valued at $63,338,000 after buying an additional 356,368 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Phillips Edison & Company, Inc. by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,396,937 shares of the company’s stock valued at $52,328,000 after buying an additional 59,059 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Phillips Edison & Company, Inc. by 13.9% in the fourth quarter. Nuveen Asset Management LLC now owns 832,117 shares of the company’s stock valued at $31,171,000 after acquiring an additional 101,719 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Phillips Edison & Company, Inc. by 2.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 785,928 shares of the company’s stock worth $29,441,000 after buying an additional 20,106 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Phillips Edison & Company, Inc. by 4.7% during the first quarter. Principal Financial Group Inc. now owns 623,420 shares of the company’s stock worth $22,749,000 after buying an additional 28,255 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PECO shares. Wall Street Zen cut shares of Phillips Edison & Company, Inc. from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Barclays began coverage on shares of Phillips Edison & Company, Inc. in a report on Wednesday, July 2nd. They issued an “equal weight” rating and a $37.00 target price on the stock. Finally, Mizuho cut their target price on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.50.

Phillips Edison & Company, Inc. Stock Down 0.3%

Shares of NASDAQ:PECO opened at $33.83 on Friday. Phillips Edison & Company, Inc. has a 12 month low of $32.40 and a 12 month high of $40.12. The company’s fifty day simple moving average is $34.71 and its 200 day simple moving average is $35.33. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 61.51, a PEG ratio of 1.15 and a beta of 0.54.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. Phillips Edison & Company, Inc. had a net margin of 9.91% and a return on equity of 2.64%. The firm had revenue of $173.47 million for the quarter, compared to analyst estimates of $174.38 million. During the same period in the previous year, the business earned $0.59 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. Research analysts expect that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 15th will be issued a dividend of $0.1025 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a c) annualized dividend and a dividend yield of 3.6%. Phillips Edison & Company, Inc.’s payout ratio is presently 223.64%.

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.