Transce3nd LLC Sells 13,646 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Transce3nd LLC cut its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 93.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 989 shares of the company's stock after selling 13,646 shares during the quarter. Transce3nd LLC's holdings in Phillips Edison & Company, Inc. were worth $36,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PECO. Fifth Third Bancorp increased its position in shares of Phillips Edison & Company, Inc. by 78.1% in the first quarter. Fifth Third Bancorp now owns 732 shares of the company's stock worth $27,000 after acquiring an additional 321 shares in the last quarter. CX Institutional bought a new position in Phillips Edison & Company, Inc. during the 1st quarter valued at $30,000. MassMutual Private Wealth & Trust FSB boosted its stake in Phillips Edison & Company, Inc. by 79.4% during the 1st 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 during the last quarter. State of Wyoming bought a new position in Phillips Edison & Company, Inc. during the 4th quarter valued at $54,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Phillips Edison & Company, Inc. in the 4th quarter worth about $68,000. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PECO shares. Wells Fargo & Company reduced 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. Mizuho dropped 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 report on Thursday, July 17th. Finally, Barclays assumed coverage on shares of Phillips Edison & Company, Inc. in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $37.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $38.50.

Phillips Edison & Company, Inc. Stock Up 0.8%

Phillips Edison & Company, Inc. stock traded up $0.28 during trading hours on Tuesday, hitting $34.96. 582,093 shares of the company traded hands, compared to its average volume of 735,465. The firm's 50-day simple moving average is $35.20 and its two-hundred day simple moving average is $35.62. The firm has a market cap of $4.38 billion, a P/E ratio of 61.33, a P/E/G ratio of 1.22 and a beta of 0.55. Phillips Edison & Company, Inc. has a 1-year low of $32.40 and a 1-year 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. Phillips Edison & Company, Inc. had a net margin of 10.51% and a return on equity of 2.73%. The company had revenue of $178.31 million during the quarter, compared to analysts' expectations of $170.59 million. During the same period last year, the company posted $0.60 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts predict that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th were given a dividend of $0.1025 per share. This represents a yield of 3.5%. The ex-dividend date was Monday, June 16th. 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.