1620 Investment Advisors Inc. Makes New Investment in Phillips Edison & Company, Inc. (NASDAQ:PECO)

1620 Investment Advisors Inc. bought a new stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 785 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds have also made changes to their positions in the company. Creekmur Asset Management LLC acquired a new position in shares of Phillips Edison & Company, Inc. in the 4th quarter worth approximately $32,000. Hobbs Group Advisors LLC bought a new stake in Phillips Edison & Company, Inc. during the second quarter valued at $39,000. Quadrant Capital Group LLC raised its holdings in shares of Phillips Edison & Company, Inc. by 197.5% during the fourth 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. PFG Private Wealth Management LLC bought a new position in shares of Phillips Edison & Company, Inc. in the 2nd quarter worth about $62,000. Finally, GAMMA Investing LLC acquired a new position in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at about $73,000. Institutional investors and hedge funds own 80.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on PECO shares. Compass Point cut their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Mizuho boosted their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday. Wells Fargo & Company dropped their target price on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reduced 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 report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.83.

Phillips Edison & Company, Inc. Price Performance

Shares of PECO stock traded up $0.14 on Thursday, hitting $35.85. The company’s stock had a trading volume of 355,332 shares, compared to its average volume of 659,153. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 77.94, a P/E/G ratio of 3.32 and a beta of 0.56. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $37.92. The firm’s fifty day moving average price is $33.78 and its 200-day moving average price is $33.76.

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

Phillips Edison & Company, Inc. Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be paid a dividend of $0.097 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.16 annualized dividend and a yield of 3.25%. Phillips Edison & Company, Inc.’s payout ratio is 254.35%.

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.