Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. reduced its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,417,185 shares of the company's stock after selling 32,507 shares during the period. Alyeska Investment Group L.P. owned approximately 1.16% of Phillips Edison & Company, Inc. worth $53,088,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter worth about $488,000. Barclays PLC grew its stake in Phillips Edison & Company, Inc. by 49.2% in the 3rd quarter. Barclays PLC now owns 279,432 shares of the company's stock worth $10,538,000 after acquiring an additional 92,129 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Phillips Edison & Company, Inc. by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company's stock worth $80,371,000 after purchasing an additional 51,186 shares during the period. Natixis Advisors LLC increased its stake in shares of Phillips Edison & Company, Inc. by 24.8% during the fourth quarter. Natixis Advisors LLC now owns 54,647 shares of the company's stock valued at $2,047,000 after buying an additional 10,865 shares during the period. Finally, LPL Financial LLC raised its holdings in shares of Phillips Edison & Company, Inc. by 12.6% in the 4th quarter. LPL Financial LLC now owns 370,636 shares of the company's stock valued at $13,884,000 after purchasing an additional 41,468 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on PECO. Wells Fargo & Company reduced their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Mizuho reduced their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating for the company in a research note on Tuesday, February 25th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Phillips Edison & Company, Inc. presently has a consensus rating of "Moderate Buy" and an average price target of $38.83.

Phillips Edison & Company, Inc. Stock Up 0.9 %

Shares of NASDAQ:PECO traded up $0.31 during trading on Friday, hitting $35.54. 288,711 shares of the stock traded hands, compared to its average volume of 712,854. The company has a fifty day moving average price of $35.41 and a two-hundred day moving average price of $36.82. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 71.08, a P/E/G ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. The company had revenue of $178.31 million for the quarter, compared to analyst estimates of $170.59 million. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. Phillips Edison & Company, Inc.'s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. On average, equities research analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Friday, May 16th will be given a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, May 16th. Phillips Edison & Company, Inc.'s payout ratio is 215.79%.

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.