Prudential Financial Inc. Lowers Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Prudential Financial Inc. trimmed its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,265 shares of the company’s stock after selling 5,600 shares during the quarter. Prudential Financial Inc.’s holdings in Phillips Edison & Company, Inc. were worth $4,692,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in Phillips Edison & Company, Inc. in the third quarter valued at $36,000. Allworth Financial LP grew its holdings in shares of Phillips Edison & Company, Inc. by 94.6% during the fourth quarter. Allworth Financial LP now owns 1,621 shares of the company’s stock worth $58,000 after buying an additional 788 shares during the last quarter. Blue Trust Inc. increased its position in Phillips Edison & Company, Inc. by 24.9% in the 4th 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 period. Eukles Asset Management acquired a new position in Phillips Edison & Company, Inc. in the 4th quarter valued at about $156,000. Finally, KBC Group NV raised its stake in Phillips Edison & Company, Inc. by 13.4% during the 4th 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. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ:PECO opened at $36.49 on Tuesday. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 72.98, a PEG ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12. The stock has a fifty day moving average price of $36.11 and a two-hundred day moving average price of $37.25.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. On average, analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Tuesday, April 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 246.00%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PECO shares. 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 note on Tuesday, February 25th. Wells Fargo & Company dropped their price objective on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.83.

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.