Wells Fargo & Company MN Acquires 17,392 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Wells Fargo & Company MN grew its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 29.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,673 shares of the company's stock after purchasing an additional 17,392 shares during the quarter. Wells Fargo & Company MN owned approximately 0.06% of Phillips Edison & Company, Inc. worth $2,872,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Allworth Financial LP lifted its holdings in shares of Phillips Edison & Company, Inc. by 94.6% in the fourth quarter. Allworth Financial LP now owns 1,621 shares of the company's stock valued at $58,000 after purchasing an additional 788 shares in the last quarter. Blue Trust Inc. increased its position in shares of Phillips Edison & Company, Inc. by 24.9% during the fourth quarter. Blue Trust Inc. now owns 3,023 shares of the company's stock valued at $113,000 after acquiring an additional 603 shares during the last quarter. Eukles Asset Management purchased a new stake in shares of Phillips Edison & Company, Inc. during the fourth quarter valued at approximately $156,000. KBC Group NV increased its position in shares of Phillips Edison & Company, Inc. by 13.4% during the fourth quarter. KBC Group NV now owns 4,424 shares of the company's stock valued at $166,000 after acquiring an additional 522 shares during the last quarter. Finally, MCF Advisors LLC increased its position in shares of Phillips Edison & Company, Inc. by 47.4% during the fourth quarter. MCF Advisors LLC now owns 5,200 shares of the company's stock valued at $195,000 after acquiring an additional 1,672 shares during the last quarter. Institutional investors own 80.70% of the company's stock.

Wall Street Analyst Weigh In

PECO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Mizuho decreased 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. Finally, Wells Fargo & Company decreased their target price on 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Phillips Edison & Company, Inc. has a consensus rating of "Moderate Buy" and a consensus target price of $38.83.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ:PECO traded down $0.06 during trading hours on Tuesday, reaching $34.95. The stock had a trading volume of 864,280 shares, compared to its average volume of 708,028. The stock has a 50 day simple moving average of $35.54 and a 200 day simple moving average of $36.90. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12. The stock has a market cap of $4.37 billion, a P/E ratio of 69.90, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57.

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

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Tuesday, April 15th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 215.79%.

About Phillips Edison & Company, Inc.

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.