Clark Capital Management Group Inc. Sells 5,175 Shares of Phillips Edison & Company, Inc. $PECO

Clark Capital Management Group Inc. cut its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 47.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,675 shares of the company’s stock after selling 5,175 shares during the period. Clark Capital Management Group Inc.’s holdings in Phillips Edison & Company, Inc. were worth $207,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. BNP Paribas Financial Markets bought a new stake in Phillips Edison & Company, Inc. in the fourth quarter valued at $591,000. Brevan Howard Capital Management LP acquired a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at $221,000. EP Wealth Advisors LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter worth about $322,000. Deutsche Bank AG grew its holdings in shares of Phillips Edison & Company, Inc. by 10.4% in the 4th quarter. Deutsche Bank AG now owns 359,788 shares of the company’s stock worth $13,478,000 after purchasing an additional 33,933 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Phillips Edison & Company, Inc. by 30.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 181,856 shares of the company’s stock worth $6,812,000 after purchasing an additional 42,710 shares in the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ:PECO opened at $36.15 on Friday. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 65.73, a P/E/G ratio of 1.23 and a beta of 0.55. The stock’s fifty day moving average price is $34.53 and its two-hundred day moving average price is $35.13. Phillips Edison & Company, Inc. has a 52-week low of $32.40 and a 52-week high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its earnings results on Thursday, July 24th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.63 by $0.01. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%.The company had revenue of $173.47 million during the quarter, compared to analysts’ expectations of $174.38 million. During the same period last year, the firm earned $0.59 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. On average, equities analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, November 4th. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.1083 per share. The ex-dividend date is Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 3.6%. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 223.64%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PECO shares. Barclays reduced their price target 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 report on Wednesday, August 27th. Mizuho reduced their target price on Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. Finally, Wall Street Zen upgraded Phillips Edison & Company, Inc. from a “sell” rating to a “hold” rating in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Hold” and an average price target of $38.33.

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.