Townsquare Capital LLC Cuts Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Townsquare Capital LLC reduced its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 48.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,009 shares of the company’s stock after selling 5,605 shares during the period. Townsquare Capital LLC’s holdings in Phillips Edison & Company, Inc. were worth $227,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cooper Financial Group boosted its stake in shares of Phillips Edison & Company, Inc. by 1.9% in the 2nd quarter. Cooper Financial Group now owns 41,754 shares of the company’s stock valued at $1,366,000 after purchasing an additional 786 shares in the last quarter. Blue Trust Inc. lifted its stake in Phillips Edison & Company, Inc. by 160.2% in the second quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock worth $75,000 after purchasing an additional 1,290 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Phillips Edison & Company, Inc. by 4.5% during the second quarter. Nisa Investment Advisors LLC now owns 41,437 shares of the company’s stock valued at $1,359,000 after buying an additional 1,776 shares during the period. Hobbs Group Advisors LLC bought a new position in shares of Phillips Edison & Company, Inc. during the second quarter valued at about $39,000. Finally, Atria Wealth Solutions Inc. increased its holdings in shares of Phillips Edison & Company, Inc. by 2.1% in the second quarter. Atria Wealth Solutions Inc. now owns 72,074 shares of the company’s stock worth $2,363,000 after buying an additional 1,474 shares during the period. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Stock Performance

PECO opened at $39.27 on Friday. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The stock has a market capitalization of $4.81 billion, a PE ratio of 85.37, a price-to-earnings-growth ratio of 3.60 and a beta of 0.57. The stock’s 50 day moving average price is $38.02 and its 200-day moving average price is $35.70.

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

Phillips Edison & Company, Inc. Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a $0.1025 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.13%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 267.39%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PECO shares. Mizuho increased their target price 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. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Wednesday, November 13th. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Finally, Compass Point increased their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $38.43.

Phillips Edison & Company, Inc. Company 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.