Thrivent Financial for Lutherans Sells 103,660 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Thrivent Financial for Lutherans decreased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 52.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,764 shares of the company’s stock after selling 103,660 shares during the period. Thrivent Financial for Lutherans’ holdings in Phillips Edison & Company, Inc. were worth $3,550,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PECO. Arizona State Retirement System boosted its holdings in shares of Phillips Edison & Company, Inc. by 0.8% during the 4th quarter. Arizona State Retirement System now owns 35,534 shares of the company’s stock worth $1,331,000 after buying an additional 290 shares in the last quarter. M&T Bank Corp lifted its position in shares of Phillips Edison & Company, Inc. by 2.9% during the 3rd quarter. M&T Bank Corp now owns 10,883 shares of the company’s stock valued at $410,000 after acquiring an additional 307 shares during the period. State of Alaska Department of Revenue boosted its stake in Phillips Edison & Company, Inc. by 0.3% during the fourth quarter. State of Alaska Department of Revenue now owns 128,465 shares of the company’s stock worth $4,811,000 after acquiring an additional 344 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Phillips Edison & Company, Inc. by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 20,185 shares of the company’s stock worth $756,000 after purchasing an additional 510 shares during the period. Finally, KBC Group NV increased its stake in Phillips Edison & Company, Inc. by 13.4% in the fourth quarter. KBC Group NV now owns 4,424 shares of the company’s stock valued at $166,000 after purchasing an additional 522 shares in the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Performance

PECO stock opened at $35.65 on Wednesday. The business has a 50-day simple moving average of $36.09 and a two-hundred day simple moving average of $37.29. The company has a market capitalization of $4.46 billion, a P/E ratio of 71.30, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a $0.1025 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.23 annualized dividend and a dividend yield of 3.45%. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 246.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PECO shares. JPMorgan Chase & Co. cut their price objective on shares of 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 target 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 decreased their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

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.