Millennium Management LLC Lowers Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Millennium Management LLC decreased its position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 27.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 373,081 shares of the company's stock after selling 141,031 shares during the period. Millennium Management LLC owned 0.30% of Phillips Edison & Company, Inc. worth $13,976,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Phillips Edison & Company, Inc. in the fourth quarter valued at approximately $488,000. Barclays PLC boosted its holdings in shares of Phillips Edison & Company, Inc. by 49.2% in the third quarter. Barclays PLC now owns 279,432 shares of the company's stock valued at $10,538,000 after purchasing an additional 92,129 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Phillips Edison & Company, Inc. by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company's stock valued at $80,371,000 after purchasing an additional 51,186 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Phillips Edison & Company, Inc. by 24.8% in the fourth quarter. Natixis Advisors LLC now owns 54,647 shares of the company's stock valued at $2,047,000 after purchasing an additional 10,865 shares during the period. Finally, LPL Financial LLC boosted its holdings in shares of Phillips Edison & Company, Inc. by 12.6% in the fourth quarter. LPL Financial LLC now owns 370,636 shares of the company's stock valued at $13,884,000 after purchasing an additional 41,468 shares during the period. Hedge funds and other institutional investors own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ:PECO traded down $0.20 during trading hours on Friday, reaching $33.94. The company's stock had a trading volume of 1,700,013 shares, compared to its average volume of 716,430. The company has a market capitalization of $4.26 billion, a P/E ratio of 67.88, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The stock has a 50 day moving average price of $35.38 and a two-hundred day moving average price of $36.65.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. The company had revenue of $178.31 million during the quarter, compared to the consensus estimate of $170.59 million. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. Phillips Edison & Company, Inc.'s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. As a group, analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be paid a dividend of $0.1025 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.23 annualized dividend and a yield of 3.62%. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is 215.79%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Mizuho lowered their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating for the company in a report on Tuesday, February 25th. Wells Fargo & Company reduced 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $38.83.

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.