Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 14.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,332 shares of the company’s stock after selling 15,462 shares during the period. Texas Permanent School Fund Corp owned 0.07% of Phillips Edison & Company, Inc. worth $2,987,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new position in shares of Phillips Edison & Company, Inc. in the 2nd quarter valued at $26,000. Creekmur Asset Management LLC acquired a new position in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at $32,000. Hobbs Group Advisors LLC acquired a new position in shares of Phillips Edison & Company, Inc. in the 2nd quarter valued at $39,000. Quadrant Capital Group LLC boosted its stake in Phillips Edison & Company, Inc. by 197.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,190 shares of the company’s stock worth $43,000 after purchasing an additional 790 shares during the period. Finally, PFG Private Wealth Management LLC acquired a new stake in Phillips Edison & Company, Inc. during the 2nd quarter worth $62,000. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Performance

Shares of Phillips Edison & Company, Inc. stock opened at $38.93 on Monday. The company has a market cap of $4.77 billion, a P/E ratio of 84.63, a PEG ratio of 3.55 and a beta of 0.57. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $39.00. The firm has a fifty day moving average of $35.39 and a two-hundred day moving average of $34.05.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). The firm had revenue of $161.52 million for the quarter, compared to analysts’ expectations of $156.29 million. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. As a group, equities analysts predict that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Monday, September 16th. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 267.39%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PECO. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Mizuho increased their price target on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Compass Point increased their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.50.

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.