Sound Income Strategies LLC Sells 716 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Sound Income Strategies LLC reduced its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,633 shares of the company’s stock after selling 716 shares during the period. Sound Income Strategies LLC’s holdings in Phillips Edison & Company, Inc. were worth $436,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of Phillips Edison & Company, Inc. by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock worth $40,911,000 after purchasing an additional 179,775 shares during the period. Ensign Peak Advisors Inc raised its holdings in Phillips Edison & Company, Inc. by 18.5% during the second quarter. Ensign Peak Advisors Inc now owns 51,347 shares of the company’s stock worth $1,680,000 after buying an additional 8,015 shares during the last quarter. Xponance Inc. raised its holdings in Phillips Edison & Company, Inc. by 6.3% during the second quarter. Xponance Inc. now owns 7,789 shares of the company’s stock worth $255,000 after buying an additional 465 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Phillips Edison & Company, Inc. in the second quarter valued at $2,527,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Phillips Edison & Company, Inc. during the second quarter valued at about $285,000. Institutional investors and hedge funds own 80.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PECO shares. JPMorgan Chase & Co. lowered their target price on shares of 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. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Wednesday, November 13th. Finally, Mizuho lifted their target price on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.50.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO stock opened at $36.62 on Friday. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 79.61, a PEG ratio of 3.13 and a beta of 0.59. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The company has a 50-day simple moving average of $37.92 and a two-hundred day simple moving average of $36.99.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). The business had revenue of $165.50 million during the quarter, compared to the consensus estimate of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.58 earnings per share. On average, sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were given a $0.1025 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a yield of 3.13%. This is a boost from Phillips Edison & Company, Inc.’s previous dividend of $0.10. Phillips Edison & Company, Inc.’s payout ratio is currently 267.39%.

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.