Bank of America Corp DE Reduces Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Bank of America Corp DE trimmed its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 306,138 shares of the company's stock after selling 28,497 shares during the quarter. Bank of America Corp DE owned 0.25% of Phillips Edison & Company, Inc. worth $11,468,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in shares of Phillips Edison & Company, Inc. by 94.6% in the fourth quarter. Allworth Financial LP now owns 1,621 shares of the company's stock worth $58,000 after buying an additional 788 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Phillips Edison & Company, Inc. in the 4th quarter worth approximately $68,000. FIL Ltd grew its stake in shares of Phillips Edison & Company, Inc. by 17.8% during the 4th quarter. FIL Ltd now owns 2,155 shares of the company's stock worth $81,000 after purchasing an additional 325 shares during the period. Blue Trust Inc. increased its holdings in shares of Phillips Edison & Company, Inc. by 24.9% during the 4th quarter. Blue Trust Inc. now owns 3,023 shares of the company's stock valued at $113,000 after purchasing an additional 603 shares in the last quarter. 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 purchasing an additional 3,004 shares during the period. 80.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company dropped their price target on shares of 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 dropped their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.83.

Phillips Edison & Company, Inc. Stock Down 0.6%

Shares of NASDAQ PECO traded down $0.21 during trading on Wednesday, hitting $34.69. The company had a trading volume of 43,865 shares, compared to its average volume of 737,384. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $40.12. The stock has a fifty day simple moving average of $35.35 and a two-hundred day simple moving average of $36.59. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 69.41, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57.

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

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be issued a $0.1025 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.23 annualized dividend and a dividend yield of 3.55%. Phillips Edison & Company, Inc.'s dividend payout ratio is presently 215.79%.

Phillips Edison & Company, Inc. Profile

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.