Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 577,930 shares of the company’s stock after selling 26,550 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of Phillips Edison & Company, Inc. worth $21,794,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PECO. Coppell Advisory Solutions Corp. acquired a new stake in Phillips Edison & Company, Inc. during the 1st quarter worth approximately $607,000. Harbor Capital Advisors Inc. grew its position in Phillips Edison & Company, Inc. by 67.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 77,686 shares of the company’s stock valued at $2,541,000 after buying an additional 31,189 shares during the last quarter. Cetera Investment Advisers increased its stake in Phillips Edison & Company, Inc. by 240.9% in the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock valued at $41,971,000 after buying an additional 826,891 shares during the period. Diversify Wealth Management LLC purchased a new position in Phillips Edison & Company, Inc. during the 2nd quarter worth $2,944,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Phillips Edison & Company, Inc. during the 2nd quarter worth $2,695,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Trading Up 0.2 %

PECO stock opened at $39.11 on Thursday. The firm has a 50 day moving average of $37.60 and a 200-day moving average of $34.95. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 85.02, a PEG ratio of 3.58 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.83.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). The firm had revenue of $165.50 million for the quarter, compared to analyst estimates of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.58 earnings per share. Sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a $0.1025 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a yield of 3.14%. Phillips Edison & Company, Inc.’s payout ratio is 267.39%.

Wall Street Analysts Forecast Growth

PECO has been the topic of several analyst reports. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Wednesday. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Compass Point boosted their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Finally, Mizuho raised their price target on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $38.43.

Phillips Edison & Company, Inc. Profile

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.