McAdam LLC Sells 4,774 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

McAdam LLC lowered its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 2.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 166,069 shares of the company’s stock after selling 4,774 shares during the quarter. McAdam LLC’s holdings in Phillips Edison & Company, Inc. were worth $5,432,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. 1620 Investment Advisors Inc. bought a new stake in shares of Phillips Edison & Company, Inc. in the 2nd quarter worth approximately $26,000. Creekmur Asset Management LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter worth approximately $32,000. Quadrant Capital Group LLC raised its holdings 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 purchasing an additional 790 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 2nd quarter worth approximately $39,000. Finally, PFG Private Wealth Management LLC purchased a new position in Phillips Edison & Company, Inc. in the 2nd quarter valued at approximately $62,000. Institutional investors own 80.70% of the company’s stock.

Analyst Ratings Changes

PECO has been the subject of a number of recent research reports. Mizuho lifted their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Wells Fargo & Company reduced their price objective on shares of 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. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. Finally, Compass Point reduced their price objective on shares of 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.83.

Phillips Edison & Company, Inc. Trading Up 1.7 %

Shares of PECO traded up $0.60 during mid-day trading on Friday, reaching $36.45. 828,787 shares of the stock traded hands, compared to its average volume of 660,315. The firm has a fifty day moving average price of $33.93 and a 200 day moving average price of $33.79. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 79.24, a price-to-earnings-growth ratio of 3.32 and a beta of 0.56. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $37.92.

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 analysts’ consensus estimates of $0.60 by ($0.48). The firm had revenue of $161.52 million for the quarter, compared to analysts’ expectations of $156.29 million. Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 earnings per share. On average, sell-side 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 declared a monthly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.097 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.19%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 254.35%.

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.