Cetera Investment Advisers Sells 47,629 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Key Points

• Cetera Investment Advisers reduced its stake in Phillips Edison & Company, Inc. by 6.1%, selling 47,629 shares during the first quarter, bringing their total to 729,613 shares worth approximately $26.6 million.
• Several hedge funds have made adjustments to their positions in PECO, with Fifth Third Bancorp increasing its holdings by 78.1%, while the overall institutional ownership stands at 80.70%.
• Analysts have set a consensus price target of $38.50 for PECO, with ratings varying from sell to outperform among different research firms.

Cetera Investment Advisers reduced its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 6.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 729,613 shares of the company's stock after selling 47,629 shares during the period. Cetera Investment Advisers owned about 0.58% of Phillips Edison & Company, Inc. worth $26,624,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PECO. Vanguard Group Inc. boosted its position in Phillips Edison & Company, Inc. by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 19,322,342 shares of the company's stock worth $723,815,000 after buying an additional 82,913 shares during the period. Wellington Management Group LLP boosted its stake in shares of Phillips Edison & Company, Inc. by 2.2% in the 4th quarter. Wellington Management Group LLP now owns 7,537,917 shares of the company's stock valued at $282,370,000 after purchasing an additional 161,963 shares during the last quarter. FMR LLC boosted its stake in shares of Phillips Edison & Company, Inc. by 14.6% in the 4th quarter. FMR LLC now owns 3,026,358 shares of the company's stock valued at $113,367,000 after purchasing an additional 385,983 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Phillips Edison & Company, Inc. by 53.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company's stock valued at $65,084,000 after purchasing an additional 606,055 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Phillips Edison & Company, Inc. by 26.7% in the 4th quarter. Northern Trust Corp now owns 1,690,805 shares of the company's stock valued at $63,338,000 after purchasing an additional 356,368 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Stock Performance

Shares of Phillips Edison & Company, Inc. stock traded down $0.22 during midday trading on Thursday, reaching $34.20. 209,516 shares of the company's stock traded hands, compared to its average volume of 765,533. The stock has a 50 day moving average of $35.04 and a 200-day moving average of $35.53. The company has a market cap of $4.29 billion, a PE ratio of 62.18, a price-to-earnings-growth ratio of 1.20 and a beta of 0.55. Phillips Edison & Company, Inc. has a 12 month low of $32.40 and a 12 month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.01. The business had revenue of $173.47 million for the quarter, compared to the consensus estimate of $174.38 million. Phillips Edison & Company, Inc. had a net margin of 9.91% and a return on equity of 2.64%. The company's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. On average, equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th were issued a $0.1025 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a yield of 3.5%. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 223.64%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PECO. Mizuho lowered their price objective on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. Wall Street Zen lowered shares of Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, Barclays began coverage on shares of Phillips Edison & Company, Inc. in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $37.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $38.50.

Phillips Edison & Company, Inc. Company 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.