Independent Advisor Alliance Sells 2,346 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Independent Advisor Alliance decreased its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 18.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,303 shares of the company’s stock after selling 2,346 shares during the period. Independent Advisor Alliance’s holdings in Phillips Edison & Company, Inc. were worth $389,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. grew its stake in Phillips Edison & Company, Inc. by 67.1% in the second quarter. Harbor Capital Advisors Inc. now owns 77,686 shares of the company’s stock worth $2,541,000 after purchasing an additional 31,189 shares during the period. Cetera Investment Advisers grew its position in shares of Phillips Edison & Company, Inc. by 240.9% in the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after buying an additional 826,891 shares during the period. Diversify Wealth Management LLC bought a new position in shares of Phillips Edison & Company, Inc. in the 2nd quarter worth about $2,944,000. Cubist Systematic Strategies LLC bought a new position in shares of Phillips Edison & Company, Inc. in the 2nd quarter worth about $2,695,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Phillips Edison & Company, Inc. by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock valued at $78,977,000 after acquiring an additional 102,519 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Up 0.9 %

Shares of NASDAQ PECO opened at $39.80 on Friday. The firm has a market cap of $4.88 billion, a P/E ratio of 86.52, a PEG ratio of 3.61 and a beta of 0.57. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The company has a 50 day moving average of $37.84 and a 200 day moving average of $35.39.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.52). The business had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.58 EPS. As a group, equities analysts expect that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 267.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Mizuho upped their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Compass Point raised their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Finally, Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Phillips Edison & Company, Inc. presently has a consensus rating of “Hold” and an average target price of $38.43.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.