Vert Asset Management LLC Takes $1.97 Million Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Vert Asset Management LLC acquired a new position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 54,045 shares of the company's stock, valued at approximately $1,972,000. Phillips Edison & Company, Inc. makes up about 0.7% of Vert Asset Management LLC's holdings, making the stock its 29th largest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB boosted its stake in shares of 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 buying an additional 602 shares during the last quarter. State of Wyoming purchased a new stake in shares of Phillips Edison & Company, Inc. during the 4th quarter worth about $54,000. Allworth Financial LP raised its stake in shares of Phillips Edison & Company, Inc. by 94.6% during the 4th quarter. Allworth Financial LP now owns 1,621 shares of the company's stock worth $58,000 after purchasing an additional 788 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at approximately $68,000. Finally, FIL Ltd increased its position in Phillips Edison & Company, Inc. by 17.8% in the 4th quarter. FIL Ltd now owns 2,155 shares of the company's stock worth $81,000 after buying an additional 325 shares during the period. Institutional investors and hedge funds own 80.70% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wells Fargo & Company reduced their price objective on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Mizuho reduced their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating for the company in a research report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $39.00.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ PECO traded down $0.03 during midday trading on Thursday, reaching $35.72. The company's stock had a trading volume of 576,323 shares, compared to its average volume of 730,058. Phillips Edison & Company, Inc. has a 12-month low of $31.68 and a 12-month high of $40.12. The firm has a 50 day moving average price of $35.28 and a 200-day moving average price of $36.34. The stock has a market capitalization of $4.48 billion, a P/E ratio of 71.44, a PEG ratio of 1.70 and a beta of 0.56.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. The business had revenue of $178.31 million for the quarter, compared to the consensus estimate of $170.59 million. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.60 earnings per share. On average, equities analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be given a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Monday, June 16th. Phillips Edison & Company, Inc.'s payout ratio is 215.79%.

Phillips Edison & Company, Inc. Company 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.