Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 932,736 shares of the company's stock after selling 36,856 shares during the period. Bank of New York Mellon Corp owned about 0.75% of Phillips Edison & Company, Inc. worth $34,036,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PECO. Fifth Third Bancorp raised its stake in shares of 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 acquiring an additional 321 shares in the last quarter. FIL Ltd raised its stake in shares of Phillips Edison & Company, Inc. by 17.8% during the fourth quarter. FIL Ltd now owns 2,155 shares of the company's stock valued at $81,000 after acquiring an additional 325 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Phillips Edison & Company, Inc. by 0.3% during the first quarter. State of Alaska Department of Revenue now owns 128,895 shares of the company's stock valued at $4,701,000 after acquiring an additional 430 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Phillips Edison & Company, Inc. by 79.4% during the first 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 in the last quarter. Finally, Summit Investment Advisors Inc. raised its stake in shares of Phillips Edison & Company, Inc. by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 14,856 shares of the company's stock valued at $557,000 after acquiring an additional 624 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 0.2%

PECO stock traded down $0.08 during mid-day trading on Friday, reaching $34.93. The company's stock had a trading volume of 880,898 shares, compared to its average volume of 735,872. The stock has a market cap of $4.38 billion, a PE ratio of 61.28, a P/E/G ratio of 1.23 and a beta of 0.55. Phillips Edison & Company, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $40.12. The company's 50 day moving average is $35.20 and its two-hundred day moving average is $35.64.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.02. Phillips Edison & Company, Inc. had a net margin of 10.51% and a return on equity of 2.73%. The business had revenue of $178.31 million during the quarter, compared to the consensus estimate of $170.59 million. During the same quarter last year, the firm earned $0.60 EPS. The business's revenue was up 10.2% compared to the same quarter last year. On average, analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th were given a $0.1025 dividend. The ex-dividend date was Monday, June 16th. This represents a yield of 3.5%. Phillips Edison & Company, Inc.'s dividend payout ratio is presently 215.79%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PECO shares. Mizuho reduced their price target on Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating on the stock in a research report on Thursday. Barclays initiated coverage on Phillips Edison & Company, Inc. in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $37.00 price target on the stock. Finally, Wells Fargo & Company lowered 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 note on Wednesday, March 26th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $38.50.

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.