Envestnet Asset Management Inc. Purchases 10,183 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Envestnet Asset Management Inc. grew its position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 14.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,068 shares of the company's stock after buying an additional 10,183 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of Phillips Edison & Company, Inc. worth $3,037,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PECO. Allspring Global Investments Holdings LLC purchased a new stake in shares of Phillips Edison & Company, Inc. during the fourth quarter worth $488,000. Barclays PLC raised its stake in shares of Phillips Edison & Company, Inc. by 49.2% during the 3rd quarter. Barclays PLC now owns 279,432 shares of the company's stock worth $10,538,000 after purchasing an additional 92,129 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Phillips Edison & Company, Inc. by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company's stock valued at $80,371,000 after buying an additional 51,186 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 24.8% during the 4th quarter. Natixis Advisors LLC now owns 54,647 shares of the company's stock valued at $2,047,000 after buying an additional 10,865 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Phillips Edison & Company, Inc. by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 595,165 shares of the company's stock valued at $22,295,000 after buying an additional 17,235 shares in the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Mizuho reduced their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating for the company in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Wells Fargo & Company cut their target price on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.83.

Phillips Edison & Company, Inc. Stock Up 0.7 %

PECO traded up $0.24 during trading on Thursday, reaching $34.94. 77,729 shares of the company's stock were exchanged, compared to its average volume of 706,840. The company has a market capitalization of $4.37 billion, a P/E ratio of 69.88, a PEG ratio of 1.70 and a beta of 0.57. The business has a 50 day moving average price of $35.53 and a 200 day moving average price of $36.89. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The firm had revenue of $178.31 million during 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 business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. As a group, research analysts forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a $0.1025 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a yield of 3.52%. 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.