Massachusetts Financial Services Co. MA Lowers Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Massachusetts Financial Services Co. MA lowered its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,077,372 shares of the company's stock after selling 26,119 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.86% of Phillips Edison & Company, Inc. worth $39,313,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

PECO has been the subject of several research reports. Barclays initiated coverage on shares of Phillips Edison & Company, Inc. in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $37.00 price objective for the company. Wells Fargo & Company cut their target price 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. Finally, Mizuho reduced their price objective on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating for the company in a research note on Thursday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Phillips Edison & Company, Inc. has an average rating of "Hold" and a consensus price target of $38.50.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO stock traded down $0.25 on Monday, reaching $34.68. 700,155 shares of the company were exchanged, compared to its average volume of 730,097. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 1.23 and a beta of 0.55. The business has a 50-day moving average price of $35.20 and a 200 day moving average price of $35.62. Phillips Edison & Company, Inc. has a 1 year low of $32.40 and a 1 year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The firm had revenue of $178.31 million for 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%. The firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. As a group, equities 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 firm also recently declared a dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th were given a dividend of $0.1025 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a dividend yield of 3.5%. Phillips Edison & Company, Inc.'s dividend payout ratio is presently 215.79%.

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.