Cambridge Investment Research Advisors Inc. Sells 38,991 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Cambridge Investment Research Advisors Inc. cut its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 9.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 367,854 shares of the company's stock after selling 38,991 shares during the quarter. Cambridge Investment Research Advisors Inc. owned 0.29% of Phillips Edison & Company, Inc. worth $13,423,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in Phillips Edison & Company, Inc. in the fourth quarter valued at approximately $488,000. Charles Schwab Investment Management Inc. grew its stake in 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 in the last quarter. Vert Asset Management LLC bought a new position in Phillips Edison & Company, Inc. in the first quarter valued at approximately $1,972,000. Fifth Third Bancorp grew its stake in Phillips Edison & Company, Inc. by 78.1% in the first quarter. Fifth Third Bancorp now owns 732 shares of the company's stock valued at $27,000 after purchasing an additional 321 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Phillips Edison & Company, Inc. by 3,539.6% in the first quarter. GAMMA Investing LLC now owns 113,192 shares of the company's stock valued at $4,130,000 after purchasing an additional 110,082 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors.

Phillips Edison & Company, Inc. Stock Down 0.3%

Shares of NASDAQ PECO traded down $0.11 during midday trading on Friday, hitting $34.90. 1,234,587 shares of the company's stock were exchanged, compared to its average volume of 730,613. Phillips Edison & Company, Inc. has a 12 month low of $31.98 and a 12 month high of $40.12. The company's 50 day moving average price is $35.35 and its 200 day moving average price is $35.99. The firm has a market capitalization of $4.38 billion, a PE ratio of 61.23, a price-to-earnings-growth ratio of 1.23 and a beta of 0.56.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. Phillips Edison & Company, Inc. had a return on equity of 2.73% and a net margin of 10.51%. The company had revenue of $178.31 million during the quarter, compared to the consensus estimate of $170.59 million. During the same period in the previous year, the company posted $0.60 EPS. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be paid a dividend of $0.1025 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a dividend yield of 3.5%. Phillips Edison & Company, Inc.'s dividend payout ratio is currently 215.79%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company decreased their price target on 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Phillips Edison & Company, Inc. presently has an average rating of "Hold" and a consensus target price of $39.00.

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.