Diversify Wealth Management LLC Has $3.14 Million Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Diversify Wealth Management LLC decreased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 2.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 84,896 shares of the company’s stock after selling 1,925 shares during the period. Diversify Wealth Management LLC’s holdings in Phillips Edison & Company, Inc. were worth $3,142,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Coppell Advisory Solutions Corp. acquired a new position in shares of Phillips Edison & Company, Inc. in the 1st quarter valued at $607,000. Harbor Capital Advisors Inc. boosted its stake in Phillips Edison & Company, Inc. by 67.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 77,686 shares of the company’s stock worth $2,541,000 after acquiring an additional 31,189 shares during the last quarter. Cetera Investment Advisers increased its stake in Phillips Edison & Company, Inc. by 240.9% in the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock valued at $41,971,000 after purchasing an additional 826,891 shares in the last quarter. UniSuper Management Pty Ltd grew its holdings in shares of Phillips Edison & Company, Inc. by 86.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 62,216 shares of the company’s stock valued at $2,232,000 after buying an additional 28,816 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in Phillips Edison & Company, Inc. during the 2nd quarter worth $2,695,000. 80.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on PECO shares. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Compass Point boosted their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Finally, Mizuho raised their target price on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $37.50.

Phillips Edison & Company, Inc. Price Performance

PECO stock traded up $0.39 during midday trading on Wednesday, reaching $37.54. 149,035 shares of the company were exchanged, compared to its average volume of 658,893. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 80.76, a price-to-earnings-growth ratio of 3.44 and a beta of 0.57. The business has a 50-day moving average price of $37.17 and a two-hundred day moving average price of $34.52. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The firm had revenue of $165.50 million during the quarter, compared to analyst estimates of $157.20 million. During the same period in the previous year, the company posted $0.58 EPS. Phillips Edison & Company, Inc.’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.1025 per share. The ex-dividend date is Tuesday, October 15th. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.23 annualized dividend and a dividend yield of 3.28%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 267.39%.

Phillips Edison & Company, Inc. Company 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.