Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 27.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 373,081 shares of the company's stock after selling 141,031 shares during the period. Millennium Management LLC owned about 0.30% of Phillips Edison & Company, Inc. worth $13,976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PECO. Arizona State Retirement System boosted its stake in shares of Phillips Edison & Company, Inc. by 0.8% in the fourth quarter. Arizona State Retirement System now owns 35,534 shares of the company's stock valued at $1,331,000 after buying an additional 290 shares in the last quarter. FIL Ltd increased its stake in Phillips Edison & Company, Inc. by 17.8% in the 4th quarter. FIL Ltd now owns 2,155 shares of the company's stock valued at $81,000 after purchasing an additional 325 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Phillips Edison & Company, Inc. by 0.3% in the 4th quarter. State of Alaska Department of Revenue now owns 128,465 shares of the company's stock valued at $4,811,000 after purchasing an additional 344 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Phillips Edison & Company, Inc. by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 20,185 shares of the company's stock valued at $756,000 after purchasing an additional 510 shares in the last quarter. Finally, KBC Group NV increased its stake in Phillips Edison & Company, Inc. by 13.4% in the 4th quarter. KBC Group NV now owns 4,424 shares of the company's stock valued at $166,000 after purchasing an additional 522 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Trading Down 0.6%

NASDAQ PECO traded down $0.20 on Wednesday, hitting $34.70. 43,865 shares of the stock traded hands, compared to its average volume of 714,596. The stock has a 50-day moving average of $35.35 and a 200 day moving average of $36.59. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The company has a market capitalization of $4.35 billion, a P/E ratio of 69.41, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its quarterly 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 business 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 2.40% and a net margin of 9.48%. The business's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. As a group, equities research analysts expect that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be paid a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Monday, June 16th. Phillips Edison & Company, Inc.'s payout ratio is 215.79%.

Analyst Ratings Changes

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

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.