Atria Wealth Solutions Inc. Reduces Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Atria Wealth Solutions Inc. decreased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 39.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,315 shares of the company's stock after selling 26,382 shares during the period. Atria Wealth Solutions Inc.'s holdings in Phillips Edison & Company, Inc. were worth $1,512,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PECO. Wells Fargo & Company MN lifted its position in Phillips Edison & Company, Inc. by 29.3% during the fourth quarter. Wells Fargo & Company MN now owns 76,673 shares of the company's stock valued at $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 in the last quarter. 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 in the last quarter. Bank of Montreal Can increased its holdings in Phillips Edison & Company, Inc. by 24.7% in the 4th quarter. Bank of Montreal Can now owns 111,333 shares of the company's stock worth $4,171,000 after buying an additional 22,033 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Phillips Edison & Company, Inc. by 3.3% during the 4th quarter. Invesco Ltd. now owns 393,621 shares of the company's stock valued at $14,745,000 after purchasing an additional 12,521 shares during the period. Institutional investors own 80.70% of the company's stock.

Analyst Ratings Changes

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

Phillips Edison & Company, Inc. Stock Up 0.9%

PECO traded up $0.30 during trading on Wednesday, reaching $34.07. The company had a trading volume of 1,052,152 shares, compared to its average volume of 796,135. The business has a 50 day simple moving average of $34.81 and a 200-day simple moving average of $35.38. Phillips Edison & Company, Inc. has a 52 week low of $32.40 and a 52 week high of $40.12. The stock has a market cap of $4.28 billion, a P/E ratio of 61.95, a PEG ratio of 1.13 and a beta of 0.54.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.63 by $0.01. The firm had revenue of $173.47 million for the quarter, compared to analyst estimates of $174.38 million. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%. The business's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 earnings per share. As a group, equities research 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 disclosed 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. The ex-dividend date is Friday, August 15th. This represents a c) annualized dividend and a dividend yield of 3.6%. Phillips Edison & Company, Inc.'s dividend payout ratio is 223.64%.

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.