Short Interest in Phillips Edison & Company, Inc. (NASDAQ:PECO) Declines By 25.9%

Phillips Edison & Company, Inc. (NASDAQ:PECO) saw a large drop in short interest in May. As of May 31st, there was short interest totalling 2,540,000 shares, a drop of 25.9% from the May 15th total of 3,430,000 shares. Approximately 2.1% of the shares of the company are short sold. Based on an average trading volume of 656,800 shares, the days-to-cover ratio is currently 3.9 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its stake in shares of Phillips Edison & Company, Inc. by 46.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 868 shares of the company’s stock worth $29,000 after buying an additional 275 shares in the last quarter. Creekmur Asset Management LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter worth $32,000. Quadrant Capital Group LLC raised its stake in shares of Phillips Edison & Company, Inc. by 197.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,190 shares of the company’s stock worth $43,000 after buying an additional 790 shares in the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Phillips Edison & Company, Inc. by 207.4% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,543 shares of the company’s stock worth $56,000 after buying an additional 1,041 shares in the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter worth $73,000. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Down 0.4 %

PECO stock traded down $0.13 during trading on Friday, reaching $32.23. 476,024 shares of the company’s stock were exchanged, compared to its average volume of 734,211. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $37.92. The company’s fifty day moving average price is $32.47 and its 200-day moving average price is $34.48. The firm has a market cap of $3.94 billion, a PE ratio of 70.07, a P/E/G ratio of 3.28 and a beta of 0.56.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be given a dividend of $0.0975 per share. The ex-dividend date is Monday, July 15th. This represents a $1.17 dividend on an annualized basis and a yield of 3.63%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 254.35%.

Analysts Set New Price Targets

PECO has been the subject of a number of analyst reports. Mizuho reduced their price objective on Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Compass Point reduced their price objective on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. Finally, Wells Fargo & Company reduced their price objective on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating for the company in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.43.

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.