Phillips Edison & Company, Inc. (NASDAQ:PECO) Stock Position Lessened by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 48.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 34,682 shares of the company’s stock after selling 32,976 shares during the quarter. Victory Capital Management Inc.’s holdings in Phillips Edison & Company, Inc. were worth $1,134,000 as of its most recent filing with the SEC.

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

Phillips Edison & Company, Inc. Trading Up 0.2 %

Shares of Phillips Edison & Company, Inc. stock opened at $38.54 on Friday. The stock has a 50-day moving average price of $35.77 and a 200 day moving average price of $34.12. The company has a market cap of $4.72 billion, a P/E ratio of 83.78, a P/E/G ratio of 3.64 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.48). The business had revenue of $161.52 million during 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 revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 earnings per share. On average, equities analysts forecast that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be given a $0.1025 dividend. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.23 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Tuesday, October 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 254.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. Mizuho upped their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Compass Point upped their target price 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. Finally, Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $37.50.

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.