Kovack Advisors Inc. Reduces Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Kovack Advisors Inc. decreased its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 20.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,617 shares of the company’s stock after selling 2,905 shares during the period. Kovack Advisors Inc.’s holdings in Phillips Edison & Company, Inc. were worth $438,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PECO. V Square Quantitative Management LLC bought a new position in shares of Phillips Edison & Company, Inc. during the third quarter valued at approximately $28,000. 1620 Investment Advisors Inc. bought a new position in Phillips Edison & Company, Inc. in the second quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new stake in Phillips Edison & Company, Inc. in the second quarter worth about $39,000. PFG Private Wealth Management LLC purchased a new stake in Phillips Edison & Company, Inc. in the second quarter worth about $62,000. Finally, Blue Trust Inc. boosted its position in Phillips Edison & Company, Inc. by 160.2% during the 2nd quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock valued at $75,000 after acquiring an additional 1,290 shares in the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Price Performance

PECO opened at $38.74 on Friday. The firm has a market cap of $4.75 billion, a PE ratio of 84.22, a P/E/G ratio of 3.59 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $39.83. The stock has a 50-day moving average price of $37.63 and a 200-day moving average price of $34.98.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $165.50 million for the quarter, compared to analysts’ expectations of $157.20 million. During the same quarter in the previous year, the company earned $0.58 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Tuesday, February 18th. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 267.39%.

Analysts Set New Price Targets

A number of research analysts have recently commented on PECO shares. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Compass Point raised their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Mizuho upped their target price on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Finally, Wolfe Research upgraded shares of 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. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.43.

Phillips Edison & Company, Inc. 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.