Kovack Advisors Inc. Decreases Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Kovack Advisors Inc. reduced its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 9.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,235 shares of the company’s stock after selling 2,299 shares during the quarter. Kovack Advisors Inc.’s holdings in Phillips Edison & Company, Inc. were worth $762,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PECO. Vanguard Group Inc. lifted its stake in Phillips Edison & Company, Inc. by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 18,759,585 shares of the company’s stock worth $684,350,000 after purchasing an additional 266,832 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Phillips Edison & Company, Inc. by 8.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,872,476 shares of the company’s stock worth $68,308,000 after buying an additional 145,078 shares during the last quarter. Norges Bank purchased a new stake in shares of Phillips Edison & Company, Inc. during the 4th quarter worth approximately $48,562,000. Dimensional Fund Advisors LP boosted its holdings in shares of Phillips Edison & Company, Inc. by 33.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 918,665 shares of the company’s stock valued at $33,513,000 after buying an additional 232,191 shares in the last quarter. Finally, GRS Advisors LLC purchased a new position in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at $26,042,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PECO. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. Wells Fargo & Company reduced their target price on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating for the company in a report on Tuesday, May 28th. Compass Point decreased their target price on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. Finally, Mizuho cut their price target on Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of “Hold” and an average target price of $37.43.

Phillips Edison & Company, Inc. Trading Up 0.4 %

Shares of PECO traded up $0.14 during mid-day trading on Thursday, hitting $32.78. 292,396 shares of the company’s stock were exchanged, compared to its average volume of 707,340. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $37.92. The business’s 50 day moving average is $32.26 and its two-hundred day moving average is $34.15. The firm has a market capitalization of $4.01 billion, a P/E ratio of 71.26, a P/E/G ratio of 3.30 and a beta of 0.56.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be given a dividend of $0.0975 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.17 dividend on an annualized basis and a yield of 3.57%. Phillips Edison & Company, Inc.’s payout ratio is 254.35%.

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.