Westwood Holdings Group Inc. Sells 16,500 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Westwood Holdings Group Inc. lessened its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 10.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 139,500 shares of the company’s stock after selling 16,500 shares during the period. Westwood Holdings Group Inc.’s holdings in Phillips Edison & Company, Inc. were worth $5,004,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. American International Group Inc. boosted its stake in Phillips Edison & Company, Inc. by 1.1% during the 1st quarter. American International Group Inc. now owns 65,003 shares of the company’s stock valued at $2,332,000 after purchasing an additional 699 shares during the period. UniSuper Management Pty Ltd boosted its stake in Phillips Edison & Company, Inc. by 86.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 62,216 shares of the company’s stock valued at $2,232,000 after purchasing an additional 28,816 shares during the period. Edgestream Partners L.P. boosted its stake in Phillips Edison & Company, Inc. by 172.4% during the 1st quarter. Edgestream Partners L.P. now owns 255,978 shares of the company’s stock valued at $9,182,000 after purchasing an additional 162,013 shares during the period. Vanguard Group Inc. boosted its stake in Phillips Edison & Company, Inc. by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock valued at $693,619,000 after purchasing an additional 577,445 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its stake in Phillips Edison & Company, Inc. by 21.9% during the 1st quarter. Orion Portfolio Solutions LLC now owns 48,013 shares of the company’s stock valued at $1,722,000 after purchasing an additional 8,641 shares during the period. Institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Up 0.5 %

Shares of PECO stock traded up $0.17 during mid-day trading on Friday, reaching $34.02. The stock had a trading volume of 844,721 shares, compared to its average volume of 702,809. The firm’s 50 day simple moving average is $32.59 and its 200 day simple moving average is $33.84. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $37.92. The firm has a market cap of $4.16 billion, a PE ratio of 73.96, a P/E/G ratio of 3.43 and a beta of 0.56.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The firm had revenue of $161.52 million during the quarter, compared to the consensus estimate of $156.29 million. During the same quarter in the prior year, the business posted $0.59 EPS. Phillips Edison & Company, Inc.’s revenue was up 6.2% compared to the same quarter last year. Sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be issued a $0.0975 dividend. The ex-dividend date is Monday, July 15th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.44%. Phillips Edison & Company, Inc.’s payout ratio is presently 254.35%.

Analysts Set New Price Targets

PECO has been the subject of several recent analyst reports. Compass Point decreased their target price on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Mizuho decreased their target price on Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Wells Fargo & Company decreased their target price on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating for the company in a research note on Tuesday, May 28th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. presently has an average rating of “Hold” and an average target price of $37.43.

About Phillips Edison & Company, Inc.

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.