Phillips Edison & Company, Inc. (NASDAQ:PECO) Stock Position Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 3.8% in the first quarter, according to its most recent 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 quarter. Bank of New York Mellon Corp owned 0.75% of Phillips Edison & Company, Inc. worth $34,036,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in Phillips Edison & Company, Inc. during the 4th quarter worth approximately $55,977,000. JPMorgan Chase & Co. raised its holdings in Phillips Edison & Company, Inc. by 53.6% during the fourth quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company's stock worth $65,084,000 after purchasing an additional 606,055 shares during the last quarter. ExodusPoint Capital Management LP increased its position in shares of Phillips Edison & Company, Inc. by 341.1% in the fourth quarter. ExodusPoint Capital Management LP now owns 499,336 shares of the company's stock valued at $18,705,000 after buying an additional 386,145 shares in the last quarter. FMR LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 14.6% in the fourth quarter. FMR LLC now owns 3,026,358 shares of the company's stock valued at $113,367,000 after purchasing an additional 385,983 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Phillips Edison & Company, Inc. by 26.7% during the 4th quarter. Northern Trust Corp now owns 1,690,805 shares of the company's stock worth $63,338,000 after purchasing an additional 356,368 shares in the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PECO. Wells Fargo & Company cut their target price 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. Mizuho decreased their target price on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating on the stock in a research report on Thursday. Finally, Barclays assumed coverage on Phillips Edison & Company, Inc. in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $37.00 price target for the company. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $38.50.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ PECO traded up $0.12 during mid-day trading on Thursday, hitting $34.91. The company had a trading volume of 376,882 shares, compared to its average volume of 759,117. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 61.25, a PEG ratio of 1.20 and a beta of 0.55. The firm's 50 day simple moving average is $35.22 and its two-hundred day simple moving average is $35.68. Phillips Edison & Company, Inc. has a 12 month low of $32.40 and a 12 month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $0.65 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $178.31 million for the quarter, compared to analysts' expectations of $170.59 million. During the same quarter last year, the company earned $0.60 EPS. Phillips Edison & Company, Inc.'s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

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

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.