110,553 Shares in Phillips Edison & Company, Inc. (NASDAQ:PECO) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 110,553 shares of the company's stock, valued at approximately $4,141,000. Raymond James Financial Inc. owned about 0.09% of Phillips Edison & Company, Inc. as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Martingale Asset Management L P purchased a new stake in Phillips Edison & Company, Inc. in the 4th quarter valued at about $2,478,000. FIL Ltd grew its holdings in Phillips Edison & Company, Inc. by 17.8% in the fourth quarter. FIL Ltd now owns 2,155 shares of the company's stock valued at $81,000 after purchasing an additional 325 shares during the period. Invesco Ltd. increased its position in Phillips Edison & Company, Inc. by 3.3% during the fourth quarter. Invesco Ltd. now owns 393,621 shares of the company's stock worth $14,745,000 after purchasing an additional 12,521 shares during the last quarter. Bank of Montreal Can raised its stake in Phillips Edison & Company, Inc. by 24.7% during the fourth quarter. Bank of Montreal Can now owns 111,333 shares of the company's stock worth $4,171,000 after purchasing an additional 22,033 shares during the period. Finally, Certior Financial Group LLC acquired a new position in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at $1,268,000. Hedge funds and other institutional investors own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Trading Up 0.7 %

Shares of PECO traded up $0.26 during midday trading on Friday, reaching $35.22. 59,125 shares of the company were exchanged, compared to its average volume of 707,533. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12. The stock has a 50-day moving average price of $35.52 and a 200-day moving average price of $36.88. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 70.50, a P/E/G ratio of 1.70 and a beta of 0.57.

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. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. The company had revenue of $178.31 million during the quarter, compared to the consensus estimate of $170.59 million. During the same quarter last year, the company earned $0.60 earnings per share. Phillips Edison & Company, Inc.'s revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were given a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Tuesday, April 15th. Phillips Edison & Company, Inc.'s payout ratio is 215.79%.

Wall Street Analysts Forecast Growth

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

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.