HighTower Advisors LLC Purchases 1,598 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

HighTower Advisors LLC grew its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 5.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 33,009 shares of the company’s stock after buying an additional 1,598 shares during the quarter. HighTower Advisors LLC’s holdings in Phillips Edison & Company, Inc. were worth $1,236,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PECO. Legacy Investment Solutions LLC acquired a new stake in Phillips Edison & Company, Inc. in the 3rd quarter valued at approximately $36,000. Allworth Financial LP grew its stake in shares of Phillips Edison & Company, Inc. by 94.6% during the 4th quarter. Allworth Financial LP now owns 1,621 shares of the company’s stock worth $58,000 after acquiring an additional 788 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Phillips Edison & Company, Inc. by 24.9% during the 4th quarter. Blue Trust Inc. now owns 3,023 shares of the company’s stock worth $113,000 after acquiring an additional 603 shares in the last quarter. Eukles Asset Management acquired a new stake in shares of Phillips Edison & Company, Inc. in the fourth quarter valued at approximately $156,000. Finally, KBC Group NV lifted its position in shares of Phillips Edison & Company, Inc. by 13.4% in the fourth quarter. KBC Group NV now owns 4,424 shares of the company’s stock worth $166,000 after purchasing an additional 522 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors.

Phillips Edison & Company, Inc. Price Performance

Phillips Edison & Company, Inc. stock opened at $35.65 on Wednesday. The company’s 50-day moving average is $36.09 and its 200-day moving average is $37.29. The firm has a market capitalization of $4.46 billion, a PE ratio of 71.30, a P/E/G ratio of 1.70 and a beta of 0.57. 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) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. As a group, analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Tuesday, April 15th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 246.00%.

Analyst Ratings Changes

A number of research analysts recently weighed in on PECO shares. Wells Fargo & Company decreased their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Mizuho lowered their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. dropped their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Phillips Edison & Company, Inc. 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.