Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by Acorn Financial Advisory Services Inc. ADV

Acorn Financial Advisory Services Inc. ADV cut its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,451 shares of the company’s stock after selling 986 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in Phillips Edison & Company, Inc. were worth $545,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new position in Phillips Edison & Company, Inc. in the 3rd quarter worth approximately $28,000. 1620 Investment Advisors Inc. purchased a new stake in Phillips Edison & Company, Inc. in the 2nd quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in Phillips Edison & Company, Inc. in the 2nd quarter worth approximately $39,000. PFG Private Wealth Management LLC purchased a new stake in Phillips Edison & Company, Inc. in the 2nd quarter worth approximately $62,000. Finally, Blue Trust Inc. lifted its position in Phillips Edison & Company, Inc. by 160.2% in the 2nd quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock worth $75,000 after buying an additional 1,290 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PECO has been the subject of a number of research analyst reports. Mizuho increased 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 research report on Monday, August 19th. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Finally, Compass Point increased their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips Edison & Company, Inc. has a consensus rating of “Hold” and an average price target of $37.50.

Phillips Edison & Company, Inc. Stock Performance

Shares of Phillips Edison & Company, Inc. stock traded up $0.11 during midday trading on Friday, reaching $38.97. 1,022,288 shares of the company’s stock traded hands, compared to its average volume of 669,862. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 84.72, a price-to-earnings-growth ratio of 3.59 and a beta of 0.57. The company’s 50 day simple moving average is $37.46 and its 200 day simple moving average is $34.81. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $39.58.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The business had revenue of $165.50 million during the quarter, compared to the consensus estimate of $157.20 million. During the same quarter in the previous year, the firm posted $0.58 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities research analysts predict that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 267.39%.

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.