Calton & Associates Inc. Sells 3,273 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Calton & Associates Inc. lessened its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 8.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,592 shares of the company’s stock after selling 3,273 shares during the quarter. Calton & Associates Inc.’s holdings in Phillips Edison & Company, Inc. were worth $1,197,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Phillips Edison & Company, Inc. by 160.2% during the 2nd quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock valued at $75,000 after acquiring an additional 1,290 shares during the period. Cooper Financial Group grew its holdings in shares of Phillips Edison & Company, Inc. by 1.9% in the second quarter. Cooper Financial Group now owns 41,754 shares of the company’s stock worth $1,366,000 after purchasing an additional 786 shares during the last quarter. PFG Private Wealth Management LLC purchased a new position in Phillips Edison & Company, Inc. in the 2nd quarter worth about $62,000. Accel Wealth Management boosted its position in Phillips Edison & Company, Inc. by 10.5% in the 2nd quarter. Accel Wealth Management now owns 34,407 shares of the company’s stock valued at $1,125,000 after buying an additional 3,265 shares during the period. Finally, Harbor Capital Advisors Inc. grew its stake in Phillips Edison & Company, Inc. by 67.1% in 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 in the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PECO has been the topic of several research analyst reports. Compass Point dropped their price objective on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Mizuho lowered their price target on shares of 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. Deutsche Bank Aktiengesellschaft lowered their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. Finally, Wells Fargo & Company cut their price target on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating on the stock in a report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $36.33.

Phillips Edison & Company, Inc. Trading Up 0.1 %

Shares of PECO stock traded up $0.04 during trading hours on Friday, reaching $35.01. 736,310 shares of the company’s stock were exchanged, compared to its average volume of 806,992. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 76.11, a P/E/G ratio of 3.28 and a beta of 0.56. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $37.92. The stock’s 50 day moving average is $33.55 and its 200-day moving average is $33.76.

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

Phillips Edison & Company, Inc. Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be given a $0.097 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Thursday, August 15th. Phillips Edison & Company, Inc.’s payout ratio is 254.35%.

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.