Prime Capital Investment Advisors LLC Sells 13,495 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Prime Capital Investment Advisors LLC lowered its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 7.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 172,903 shares of the company’s stock after selling 13,495 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Phillips Edison & Company, Inc. were worth $5,656,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Phillips Edison & Company, Inc. by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after acquiring an additional 577,445 shares in the last quarter. Norges Bank bought a new stake in Phillips Edison & Company, Inc. in the 4th quarter worth about $48,562,000. Cetera Investment Advisers increased its stake in Phillips Edison & Company, Inc. by 240.9% in the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock valued at $41,971,000 after buying an additional 826,891 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Phillips Edison & Company, Inc. by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,106,277 shares of the company’s stock valued at $36,186,000 after buying an additional 27,611 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Phillips Edison & Company, Inc. by 33.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 918,665 shares of the company’s stock worth $33,513,000 after buying an additional 232,191 shares in the last quarter. 80.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. 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. Wells Fargo & Company upgraded 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 research note on Wednesday, August 28th. Mizuho lifted their target price on 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. 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 research report on Wednesday, May 29th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.50.

Phillips Edison & Company, Inc. Price Performance

NASDAQ:PECO opened at $38.93 on Monday. The company has a market capitalization of $4.77 billion, a P/E ratio of 84.63, a P/E/G ratio of 3.55 and a beta of 0.57. The business has a fifty day simple moving average of $35.39 and a two-hundred day simple moving average of $34.05. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $39.00.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.48). The firm 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 company’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $0.59 EPS. As a group, analysts anticipate that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

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

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.