State of Alaska Department of Revenue Purchases 2,217 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

State of Alaska Department of Revenue lifted its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,259 shares of the company’s stock after buying an additional 2,217 shares during the period. State of Alaska Department of Revenue owned about 0.11% of Phillips Edison & Company, Inc. worth $4,707,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Phillips Edison & Company, Inc. during the 4th quarter worth approximately $48,562,000. GRS Advisors LLC acquired a new stake in shares of Phillips Edison & Company, Inc. during the fourth quarter worth $26,042,000. Vanguard Group Inc. lifted its position in Phillips Edison & Company, Inc. by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 18,759,585 shares of the company’s stock valued at $684,350,000 after acquiring an additional 266,832 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Phillips Edison & Company, Inc. by 33.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 918,665 shares of the company’s stock worth $33,513,000 after purchasing an additional 232,191 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Phillips Edison & Company, Inc. by 8.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,872,476 shares of the company’s stock worth $68,308,000 after purchasing an additional 145,078 shares in the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. Compass Point reduced their price target on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. Mizuho cut their price objective on shares of Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Finally, Wells Fargo & Company reduced their target price on shares of Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating for the company in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.43.

Phillips Edison & Company, Inc. Trading Up 0.4 %

NASDAQ:PECO opened at $32.78 on Friday. The stock has a market capitalization of $4.01 billion, a PE ratio of 71.26, a P/E/G ratio of 3.32 and a beta of 0.56. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $37.92. The firm has a fifty day simple moving average of $32.25 and a 200 day simple moving average of $34.14.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be given a $0.0975 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Monday, July 15th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 254.35%.

Phillips Edison & Company, Inc. Company Profile

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.