McAdam LLC Cuts Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

McAdam LLC lessened its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 10.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,413 shares of the company’s stock after selling 16,656 shares during the period. McAdam LLC owned approximately 0.12% of Phillips Edison & Company, Inc. worth $5,634,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Duff & Phelps Investment Management Co. bought a new position in Phillips Edison & Company, Inc. in the 2nd quarter worth $32,120,000. Cetera Investment Advisers lifted its stake in shares of Phillips Edison & Company, Inc. by 240.9% in the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after purchasing an additional 826,891 shares during the period. Vanguard Group Inc. lifted its stake in shares of Phillips Edison & Company, Inc. by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after purchasing an additional 577,445 shares during the period. Cetera Advisors LLC raised its stake in Phillips Edison & Company, Inc. by 60.4% during the 1st quarter. Cetera Advisors LLC now owns 791,147 shares of the company’s stock worth $28,378,000 after acquiring an additional 297,945 shares during the period. Finally, Millennium Management LLC bought a new stake in Phillips Edison & Company, Inc. during the 2nd quarter worth approximately $8,397,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PECO shares. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Compass Point lifted their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Finally, Mizuho boosted their target price on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.50.

Phillips Edison & Company, Inc. Price Performance

PECO stock opened at $37.01 on Thursday. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $39.08. The firm has a market capitalization of $4.53 billion, a P/E ratio of 78.75, a P/E/G ratio of 3.53 and a beta of 0.57. The business’s 50-day moving average is $36.98 and its two-hundred day moving average is $34.41.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.48). The firm had revenue of $161.52 million for the quarter, compared to analyst estimates of $156.29 million. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. On average, analysts expect that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The business 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 $0.1025 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.32%. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s payout ratio is presently 261.71%.

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.