Janney Montgomery Scott LLC Invests $1 Million in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Janney Montgomery Scott LLC bought a new stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,449 shares of the company's stock, valued at approximately $1,002,000.

Other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in Phillips Edison & Company, Inc. by 78.1% during the first quarter. Fifth Third Bancorp now owns 732 shares of the company's stock worth $27,000 after acquiring an additional 321 shares during the last quarter. CX Institutional bought a new position in shares of Phillips Edison & Company, Inc. during the 1st quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Phillips Edison & Company, Inc. by 79.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the company's stock valued at $50,000 after purchasing an additional 602 shares during the last quarter. State of Wyoming purchased a new stake in Phillips Edison & Company, Inc. during the 4th quarter valued at $54,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Phillips Edison & Company, Inc. in the fourth quarter worth $68,000. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wells Fargo & Company dropped their price objective on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $39.00.

Phillips Edison & Company, Inc. Stock Performance

PECO opened at $34.90 on Monday. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 61.23, a P/E/G ratio of 1.23 and a beta of 0.57. The stock's 50 day moving average price is $35.35 and its 200-day moving average price is $35.96. Phillips Edison & Company, Inc. has a one year low of $31.98 and a one year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The company had revenue of $178.31 million during the quarter, compared to analysts' expectations of $170.59 million. Phillips Edison & Company, Inc. had a return on equity of 2.73% and a net margin of 10.51%. Phillips Edison & Company, Inc.'s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. As a group, analysts predict that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently declared a dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a $0.1025 dividend. This represents a yield of 3.5%. The ex-dividend date of this dividend is Monday, June 16th. Phillips Edison & Company, Inc.'s dividend payout ratio is presently 215.79%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.