Bank of America Corp DE Sells 28,497 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Bank of America Corp DE reduced its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 306,138 shares of the company's stock after selling 28,497 shares during the period. Bank of America Corp DE owned about 0.25% of Phillips Edison & Company, Inc. worth $11,468,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Allworth Financial LP grew its holdings in shares of Phillips Edison & Company, Inc. by 94.6% during the 4th quarter. Allworth Financial LP now owns 1,621 shares of the company's stock valued at $58,000 after purchasing an additional 788 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Phillips Edison & Company, Inc. during the fourth quarter valued at about $68,000. FIL Ltd grew its stake in shares of Phillips Edison & Company, Inc. by 17.8% during the fourth quarter. FIL Ltd now owns 2,155 shares of the company's stock valued at $81,000 after buying an additional 325 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Phillips Edison & Company, Inc. by 24.9% in the fourth quarter. Blue Trust Inc. now owns 3,023 shares of the company's stock worth $113,000 after buying an additional 603 shares during the period. Finally, Sterling Capital Management LLC lifted its stake in shares of Phillips Edison & Company, Inc. by 784.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,387 shares of the company's stock valued at $127,000 after acquiring an additional 3,004 shares during the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Trading Up 2.7%

NASDAQ PECO traded up $0.93 on Tuesday, hitting $34.87. The company's stock had a trading volume of 283,045 shares, compared to its average volume of 738,043. The firm has a market cap of $4.37 billion, a P/E ratio of 69.73, a PEG ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The company's 50-day simple moving average is $35.36 and its 200 day simple moving average is $36.60.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. The company had revenue of $178.31 million during 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%. The firm's revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. On average, research analysts forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be given a dividend of $0.1025 per share. The ex-dividend date is Monday, June 16th. This represents a $1.23 annualized dividend and a dividend yield of 3.53%. Phillips Edison & Company, Inc.'s dividend payout ratio is presently 215.79%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PECO shares. Wells Fargo & Company reduced their price target on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Mizuho cut their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.83.

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.