AE Wealth Management LLC Cuts Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

AE Wealth Management LLC decreased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 8.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,889 shares of the company’s stock after selling 3,798 shares during the period. AE Wealth Management LLC’s holdings in Phillips Edison & Company, Inc. were worth $1,456,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Crossmark Global Holdings Inc. bought a new position in Phillips Edison & Company, Inc. during the 1st quarter valued at approximately $242,000. Teacher Retirement System of Texas boosted its holdings in Phillips Edison & Company, Inc. by 11.8% in the first quarter. Teacher Retirement System of Texas now owns 36,284 shares of the company’s stock worth $1,324,000 after acquiring an additional 3,841 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Phillips Edison & Company, Inc. by 4.7% in the first quarter. Principal Financial Group Inc. now owns 623,420 shares of the company’s stock worth $22,749,000 after acquiring an additional 28,255 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Phillips Edison & Company, Inc. during the first quarter valued at $1,002,000. Finally, Vert Asset Management LLC purchased a new position in shares of Phillips Edison & Company, Inc. in the 1st quarter worth about $1,972,000. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PECO has been the topic of several recent analyst reports. Mizuho cut their price objective on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Barclays assumed coverage on shares of Phillips Edison & Company, Inc. in a research note on Wednesday, July 2nd. They issued an “equal weight” rating and a $37.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Phillips Edison & Company, Inc. from a “hold” rating to a “sell” rating in a research 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 company. According to MarketBeat, Phillips Edison & Company, Inc. presently has a consensus rating of “Hold” and a consensus target price of $38.50.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ PECO opened at $34.56 on Monday. Phillips Edison & Company, Inc. has a one year low of $32.40 and a one year high of $40.12. The stock has a 50-day moving average of $35.09 and a 200 day moving average of $35.55. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 62.84, a PEG ratio of 1.21 and a beta of 0.55.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $174.38 million. During the same period in the previous year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts predict 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 announced a dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th were given a $0.1025 dividend. This represents a yield of 3.5%. The ex-dividend date was Monday, June 16th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 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.