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

Massachusetts Financial Services Co. MA reduced its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 2.4% in the first quarter, according to the company in its most recent 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.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PECO. Mizuho lowered their price objective on Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating for the company in a research note on Thursday. Wells Fargo & Company decreased their price target on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Finally, Barclays began coverage on shares of Phillips Edison & Company, Inc. in a research note on Wednesday, July 2nd. They set an "equal weight" rating and a $37.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $38.50.

Phillips Edison & Company, Inc. Trading Down 0.2%

NASDAQ PECO traded down $0.08 during trading hours on Friday, reaching $34.93. The company had a trading volume of 880,898 shares, compared to its average volume of 735,872. Phillips Edison & Company, Inc. has a 1-year low of $32.40 and a 1-year high of $40.12. The stock has a market capitalization of $4.38 billion, a P/E ratio of 61.28, a price-to-earnings-growth ratio of 1.23 and a beta of 0.55. The stock has a 50-day moving average of $35.20 and a 200 day moving average of $35.64.

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

Phillips Edison & Company, Inc. Dividend Announcement

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