Cadence Bank Reduces Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Cadence Bank cut its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 10.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,489 shares of the company’s stock after selling 1,314 shares during the quarter. Cadence Bank’s holdings in Phillips Edison & Company, Inc. were worth $433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PECO. Bank of Montreal Can boosted its stake in Phillips Edison & Company, Inc. by 609.1% in the 3rd quarter. Bank of Montreal Can now owns 89,300 shares of the company’s stock worth $3,327,000 after purchasing an additional 76,706 shares during the period. Daiwa Securities Group Inc. grew its stake in Phillips Edison & Company, Inc. by 6.9% during the third quarter. Daiwa Securities Group Inc. now owns 40,835 shares of the company’s stock valued at $1,540,000 after acquiring an additional 2,640 shares in the last quarter. Centaurus Financial Inc. increased its holdings in Phillips Edison & Company, Inc. by 3.7% during the 3rd quarter. Centaurus Financial Inc. now owns 136,258 shares of the company’s stock worth $5,138,000 after acquiring an additional 4,850 shares during the period. GenTrust LLC bought a new stake in Phillips Edison & Company, Inc. during the 3rd quarter worth approximately $221,000. Finally, Citigroup Inc. lifted its stake in Phillips Edison & Company, Inc. by 44.6% in the 3rd quarter. Citigroup Inc. now owns 177,569 shares of the company’s stock worth $6,696,000 after purchasing an additional 54,800 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors.

Phillips Edison & Company, Inc. Trading Up 0.9 %

PECO opened at $39.80 on Thursday. The stock has a market capitalization of $4.88 billion, a P/E ratio of 86.52, a PEG ratio of 3.61 and a beta of 0.57. The stock has a 50-day moving average price of $37.81 and a 200-day moving average price of $35.36. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12.

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

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.’s payout ratio is presently 267.39%.

Analysts Set New Price Targets

PECO has been the topic of several research analyst reports. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Compass Point lifted their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Mizuho raised their price target on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Finally, Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $38.43.

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.