Swiss National Bank trimmed its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 231,400 shares of the company's stock after selling 26,500 shares during the period. Swiss National Bank owned 0.19% of Phillips Edison & Company, Inc. worth $8,441,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its position in Phillips Edison & Company, Inc. by 46.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 868 shares of the company's stock valued at $29,000 after buying an additional 275 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Phillips Edison & Company, Inc. by 0.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,862 shares of the company's stock valued at $2,074,000 after buying an additional 306 shares in the last quarter. Strs Ohio increased its position in Phillips Edison & Company, Inc. by 1.6% during the 3rd quarter. Strs Ohio now owns 24,900 shares of the company's stock valued at $835,000 after buying an additional 400 shares in the last quarter. Silver Oak Securities Incorporated increased its position in Phillips Edison & Company, Inc. by 1.5% during the 3rd quarter. Silver Oak Securities Incorporated now owns 28,770 shares of the company's stock valued at $965,000 after buying an additional 414 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Phillips Edison & Company, Inc. by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 33,399 shares of the company's stock valued at $1,120,000 after buying an additional 460 shares in the last quarter. 80.70% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on PECO shares. JPMorgan Chase & Co. dropped their price target on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft started coverage on Phillips Edison & Company, Inc. in a research note on Tuesday, January 30th. They set a "buy" rating and a $41.00 price target on the stock. Mizuho upgraded Phillips Edison & Company, Inc. from a "neutral" rating to a "buy" rating and boosted their price target for the company from $35.00 to $37.00 in a research note on Friday, February 23rd. Finally, Compass Point dropped their price target on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a "neutral" rating on the stock in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $38.14.
Read Our Latest Stock Analysis on PECO
Phillips Edison & Company, Inc. Stock Down 1.0 %
Shares of PECO traded down $0.32 during mid-day trading on Tuesday, reaching $32.55. The company had a trading volume of 793,241 shares, compared to its average volume of 612,822. Phillips Edison & Company, Inc. has a 52-week low of $27.85 and a 52-week high of $37.92. The stock has a market capitalization of $3.98 billion, a P/E ratio of 70.76, a PEG ratio of 3.89 and a beta of 0.59. The stock has a 50 day moving average of $34.09 and a two-hundred day moving average of $34.94.
Phillips Edison & Company, Inc. Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be paid a $0.0975 dividend. The ex-dividend date is Monday, July 15th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.59%. Phillips Edison & Company, Inc.'s payout ratio is 254.35%.
Phillips Edison & Company, Inc. Profile
(
Free Report)
Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.
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