Sound Income Strategies LLC Reduces Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Sound Income Strategies LLC lowered its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 5.8% in the 4th quarter, HoldingsChannel reports. The firm owned 11,633 shares of the company’s stock after selling 716 shares during the quarter. Sound Income Strategies LLC’s holdings in Phillips Edison & Company, Inc. were worth $436,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of PECO. State Street Corp lifted its holdings in Phillips Edison & Company, Inc. by 0.3% during the third quarter. State Street Corp now owns 7,068,684 shares of the company’s stock valued at $267,289,000 after purchasing an additional 18,429 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Phillips Edison & Company, Inc. by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company’s stock valued at $120,347,000 after buying an additional 19,205 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Phillips Edison & Company, Inc. by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock worth $78,977,000 after buying an additional 102,519 shares during the period. Duff & Phelps Investment Management Co. grew its stake in Phillips Edison & Company, Inc. by 50.1% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock valued at $55,589,000 after buying an additional 492,160 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in 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. Institutional investors own 80.70% of the company’s stock.

Analysts Set New Price Targets

PECO has been the subject of a number of analyst reports. Mizuho raised their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. reduced their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.50.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO stock opened at $36.62 on Friday. The company has a market capitalization of $4.49 billion, a PE ratio of 79.61, a price-to-earnings-growth ratio of 3.13 and a beta of 0.59. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The business’s fifty day moving average is $37.92 and its 200 day moving average is $36.99.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released 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 net margin of 9.03% and a return on equity of 2.22%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.58 EPS. On average, sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were given a $0.1025 dividend. This represents a dividend yield of 3.13%. This is a boost from Phillips Edison & Company, Inc.’s previous dividend of $0.10. The ex-dividend date was Monday, December 16th. Phillips Edison & Company, Inc.’s dividend payout ratio is 267.39%.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.