LPL Financial LLC Raises Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

LPL Financial LLC grew its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 388,084 shares of the company's stock after acquiring an additional 17,448 shares during the quarter. LPL Financial LLC owned about 0.31% of Phillips Edison & Company, Inc. worth $14,161,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. increased its holdings in Phillips Edison & Company, Inc. by 3.4% in the 4th quarter. American Century Companies Inc. now owns 41,137 shares of the company's stock worth $1,541,000 after buying an additional 1,352 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in Phillips Edison & Company, Inc. in the 4th quarter worth approximately $1,845,000. Wells Fargo & Company MN increased its holdings in Phillips Edison & Company, Inc. by 29.3% in the 4th quarter. Wells Fargo & Company MN now owns 76,673 shares of the company's stock worth $2,872,000 after buying an additional 17,392 shares during the period. Envestnet Asset Management Inc. increased its holdings in Phillips Edison & Company, Inc. by 14.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 81,068 shares of the company's stock worth $3,037,000 after buying an additional 10,183 shares during the period. Finally, FMR LLC increased its holdings in Phillips Edison & Company, Inc. by 14.6% in the 4th quarter. FMR LLC now owns 3,026,358 shares of the company's stock worth $113,367,000 after buying an additional 385,983 shares during the period. Institutional investors and hedge funds own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Trading Down 1.8%

Phillips Edison & Company, Inc. stock traded down $0.59 during mid-day trading on Friday, hitting $33.04. The company had a trading volume of 1,156,779 shares, compared to its average volume of 963,745. Phillips Edison & Company, Inc. has a 12-month low of $32.40 and a 12-month high of $40.12. The company's fifty day moving average is $34.90 and its 200-day moving average is $35.42. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 60.07, a P/E/G ratio of 1.12 and a beta of 0.54.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its earnings results 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. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%. The firm had revenue of $173.47 million for the quarter, compared to analyst estimates of $174.38 million. During the same quarter last year, the firm posted $0.59 EPS. The business's revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be issued a dividend of $0.1025 per share. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, August 15th. Phillips Edison & Company, Inc.'s payout ratio is currently 223.64%.

Analyst Ratings Changes

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

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.