Koshinski Asset Management Inc. Reduces Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Koshinski Asset Management Inc. trimmed its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 1.2% in the 4th quarter, Holdings Channel reports. The firm owned 59,542 shares of the company’s stock after selling 697 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Phillips Edison & Company, Inc. were worth $2,230,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of Phillips Edison & Company, Inc. in the 3rd quarter worth $28,000. Legacy Investment Solutions LLC purchased a new position in shares of Phillips Edison & Company, Inc. in the third quarter worth about $36,000. Blue Trust Inc. lifted its position in Phillips Edison & Company, Inc. by 15.5% in the third quarter. Blue Trust Inc. now owns 2,420 shares of the company’s stock valued at $91,000 after purchasing an additional 325 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Phillips Edison & Company, Inc. by 31.8% in the third quarter. GAMMA Investing LLC now owns 3,330 shares of the company’s stock worth $126,000 after buying an additional 803 shares during the period. Finally, Tsfg LLC bought a new position in shares of Phillips Edison & Company, Inc. during the third quarter valued at about $127,000. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ:PECO opened at $35.79 on Tuesday. The business has a fifty day moving average price of $38.13 and a 200-day moving average price of $36.95. The company has a market capitalization of $4.39 billion, a PE ratio of 77.80, a PEG ratio of 2.95 and a beta of 0.59. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The firm had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. During the same period last year, the firm posted $0.58 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on PECO. 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 research note on Tuesday, December 10th. JPMorgan Chase & Co. dropped their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. 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 on the stock in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

About Phillips Edison & Company, Inc.

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.