Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC lessened its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 23.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,966 shares of the company’s stock after selling 4,000 shares during the period. Journey Strategic Wealth LLC’s holdings in Phillips Edison & Company, Inc. were worth $486,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Millennium Management LLC acquired a new position in Phillips Edison & Company, Inc. in the second quarter valued at about $8,397,000. The Manufacturers Life Insurance Company boosted its position in shares of Phillips Edison & Company, Inc. by 5.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,493 shares of the company’s stock worth $2,339,000 after purchasing an additional 3,830 shares during the period. Algert Global LLC purchased a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter worth approximately $403,000. Sanctuary Advisors LLC acquired a new stake in Phillips Edison & Company, Inc. in the 2nd quarter valued at approximately $231,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Phillips Edison & Company, Inc. in the second quarter valued at approximately $2,695,000. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Price Performance

PECO stock opened at $36.33 on Monday. The business’s 50-day moving average is $37.67 and its two-hundred day moving average is $37.15. The firm has a market capitalization of $4.45 billion, a P/E ratio of 78.98, a P/E/G ratio of 3.17 and a beta of 0.59. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently announced a dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were issued a $0.1025 dividend. This is a boost from Phillips Edison & Company, Inc.’s previous dividend of $0.10. The ex-dividend date was Monday, December 16th. This represents a yield of 3.13%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 267.39%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Mizuho raised their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Wells Fargo & Company dropped their target price on 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. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.50.

About Phillips Edison & Company, Inc.

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.