Phillips Edison & Company, Inc. (NASDAQ:PECO) Position Trimmed by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. cut its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 9.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 367,854 shares of the company's stock after selling 38,991 shares during the period. Cambridge Investment Research Advisors Inc. owned approximately 0.29% of Phillips Edison & Company, Inc. worth $13,423,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FSC Wealth Advisors LLC acquired a new stake in Phillips Edison & Company, Inc. in the first quarter worth approximately $91,000. State of Alaska Department of Revenue grew its stake in shares of Phillips Edison & Company, Inc. by 0.3% in the 1st quarter. State of Alaska Department of Revenue now owns 128,895 shares of the company's stock worth $4,701,000 after purchasing an additional 430 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 1st quarter worth approximately $1,002,000. Fifth Third Bancorp raised its holdings in shares of Phillips Edison & Company, Inc. by 78.1% in the 1st quarter. Fifth Third Bancorp now owns 732 shares of the company's stock worth $27,000 after purchasing an additional 321 shares in the last quarter. Finally, CX Institutional acquired a new stake in Phillips Edison & Company, Inc. during the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 80.70% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company decreased their price target 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 report on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $39.00.

Phillips Edison & Company, Inc. Stock Performance

PECO traded up $0.53 during trading on Thursday, reaching $35.01. The company had a trading volume of 1,143,978 shares, compared to its average volume of 730,390. The firm's 50-day simple moving average is $35.40 and its 200 day simple moving average is $36.06. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 61.42, a PEG ratio of 1.25 and a beta of 0.56. Phillips Edison & Company, Inc. has a 12-month low of $31.79 and a 12-month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced 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. The company had revenue of $178.31 million during the quarter, compared to analysts' expectations of $170.59 million. Phillips Edison & Company, Inc. had a net margin of 10.51% and a return on equity of 2.73%. The business's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the company posted $0.60 earnings per share. On average, sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

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