Prime Capital Investment Advisors LLC Sells 20,757 Shares of Phillips Edison & Company, Inc. $PECO

Key Points

• Prime Capital Investment Advisors LLC reduced its holdings in Phillips Edison & Company by 14.6%, selling 20,757 shares and now owning 121,229 shares worth approximately $4.25 million.
• Wall Street analysts have mixed ratings for Phillips Edison & Company, with three analysts giving a Buy rating and an average target price of $39.17.
• The company recently announced a monthly dividend of $0.1083, set to be paid on November 4th, with a dividend yield of 3.9% and a payout ratio of 236.36%.

Prime Capital Investment Advisors LLC trimmed its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 14.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,229 shares of the company's stock after selling 20,757 shares during the quarter. Prime Capital Investment Advisors LLC owned 0.10% of Phillips Edison & Company, Inc. worth $4,247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PECO. Townsquare Capital LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 3.6% during the first quarter. Townsquare Capital LLC now owns 8,610 shares of the company's stock worth $314,000 after purchasing an additional 303 shares during the period. Fifth Third Bancorp lifted its holdings in Phillips Edison & Company, Inc. by 78.1% during the 1st quarter. Fifth Third Bancorp now owns 732 shares of the company's stock worth $27,000 after buying an additional 321 shares during the period. Norinchukin Bank The lifted its holdings in Phillips Edison & Company, Inc. by 6.9% during the 1st quarter. Norinchukin Bank The now owns 5,785 shares of the company's stock worth $211,000 after buying an additional 372 shares during the period. State of Alaska Department of Revenue grew its position 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 valued at $4,701,000 after buying an additional 430 shares during the last quarter. Finally, A&I Financial Services LLC increased its stake in shares of Phillips Edison & Company, Inc. by 3.9% in the second quarter. A&I Financial Services LLC now owns 11,419 shares of the company's stock valued at $400,000 after buying an additional 433 shares during the period. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PECO. LADENBURG THALM/SH SH began coverage on Phillips Edison & Company, Inc. in a research note on Tuesday, September 9th. They issued a "buy" rating and a $40.00 price objective on the stock. Wall Street Zen lowered shares of Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. Mizuho reduced their price objective on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. Barclays increased their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Monday. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Phillips Edison & Company, Inc. in a research report on Saturday, September 27th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $39.17.

Phillips Edison & Company, Inc. Trading Down 0.4%

NASDAQ:PECO opened at $33.60 on Tuesday. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 61.09, a PEG ratio of 1.15 and a beta of 0.54. The firm has a fifty day simple moving average of $34.56 and a two-hundred day simple moving average of $35.01. 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 announced its quarterly earnings data on Thursday, July 24th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.01. Phillips Edison & Company, Inc. had a net margin of 9.91% and a return on equity of 2.64%. The firm had revenue of $173.47 million for the quarter, compared to analyst estimates of $174.38 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The business's quarterly revenue was up 10.1% compared to the same quarter last year. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. Equities analysts predict that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, November 4th. Investors of record on Wednesday, October 15th will be issued a $0.1083 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, October 15th. Phillips Edison & Company, Inc.'s dividend payout ratio is currently 236.36%.

About Phillips Edison & Company, Inc.

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.

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