Thrivent Financial for Lutherans Sells 411,075 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Thrivent Financial for Lutherans cut its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 67.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 198,424 shares of the company’s stock after selling 411,075 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Phillips Edison & Company, Inc. were worth $7,483,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Phillips Edison & Company, Inc. by 3.1% during the first quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock valued at $693,619,000 after buying an additional 577,445 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Phillips Edison & Company, Inc. by 16.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock valued at $40,911,000 after acquiring an additional 179,775 shares during the period. Cetera Investment Advisers increased its stake in shares of Phillips Edison & Company, Inc. by 240.9% during the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after purchasing an additional 826,891 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Phillips Edison & Company, Inc. by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,106,277 shares of the company’s stock worth $36,186,000 after purchasing an additional 27,611 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. bought a new stake in shares of Phillips Edison & Company, Inc. in the 2nd quarter worth approximately $32,120,000. 80.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Phillips Edison & Company, Inc. Stock Performance

NASDAQ:PECO opened at $39.33 on Friday. The business’s fifty day moving average is $37.79 and its 200 day moving average is $35.24. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 85.50, a PEG ratio of 3.60 and a beta of 0.57. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $39.83.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced 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). Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The company had revenue of $165.50 million for the quarter, compared to the consensus estimate of $157.20 million. During the same quarter in the prior year, the company earned $0.58 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.1025 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.13%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 267.39%.

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.