RMR Wealth Builders Sells 1,866 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

RMR Wealth Builders lessened its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 3.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 47,727 shares of the company’s stock after selling 1,866 shares during the period. RMR Wealth Builders’ holdings in Phillips Edison & Company, Inc. were worth $1,746,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PECO. Norges Bank bought a new position in Phillips Edison & Company, Inc. in the fourth quarter valued at about $55,977,000. JPMorgan Chase & Co. boosted its holdings in Phillips Edison & Company, Inc. by 53.6% in the fourth quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company’s stock valued at $65,084,000 after acquiring an additional 606,055 shares during the last quarter. ExodusPoint Capital Management LP boosted its holdings in Phillips Edison & Company, Inc. by 341.1% in the fourth quarter. ExodusPoint Capital Management LP now owns 499,336 shares of the company’s stock valued at $18,705,000 after acquiring an additional 386,145 shares during the last quarter. FMR LLC boosted its holdings in Phillips Edison & Company, Inc. by 14.6% in the fourth quarter. FMR LLC now owns 3,026,358 shares of the company’s stock valued at $113,367,000 after acquiring an additional 385,983 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Phillips Edison & Company, Inc. by 26.7% in the fourth quarter. Northern Trust Corp now owns 1,690,805 shares of the company’s stock valued at $63,338,000 after acquiring an additional 356,368 shares during the last quarter. Institutional investors own 80.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PECO shares. Wells Fargo & Company decreased their price target on 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. Mizuho decreased their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $39.00.

Phillips Edison & Company, Inc. Stock Down 0.1%

Phillips Edison & Company, Inc. stock opened at $35.72 on Friday. Phillips Edison & Company, Inc. has a 12-month low of $31.68 and a 12-month high of $40.12. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 71.44, a P/E/G ratio of 1.70 and a beta of 0.56. The business’s 50-day simple moving average is $35.30 and its 200 day simple moving average is $36.32.

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, 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 firm had revenue of $178.31 million for the quarter, compared to analysts’ expectations of $170.59 million. During the same quarter last year, the business earned $0.60 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be given a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Monday, June 16th. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 215.79%.

Phillips Edison & Company, Inc. 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.