Providence Wealth Advisors LLC Makes New $201,000 Investment in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Providence Wealth Advisors LLC bought a new position in Phillips Edison & Company, Inc. (NASDAQ:PECO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,440 shares of the company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. 1620 Investment Advisors Inc. purchased a new position in Phillips Edison & Company, Inc. in the second quarter worth about $26,000. V Square Quantitative Management LLC purchased a new position in Phillips Edison & Company, Inc. in the third quarter worth about $28,000. Hobbs Group Advisors LLC purchased a new position in Phillips Edison & Company, Inc. in the second quarter worth about $39,000. PFG Private Wealth Management LLC purchased a new position in Phillips Edison & Company, Inc. in the second quarter worth about $62,000. Finally, Blue Trust Inc. boosted its position in Phillips Edison & Company, Inc. by 160.2% in the second quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock worth $75,000 after purchasing an additional 1,290 shares during the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Trading Up 0.9 %

Shares of PECO opened at $39.80 on Friday. The business’s 50 day moving average is $37.84 and its 200 day moving average is $35.39. The company has a market capitalization of $4.88 billion, a PE ratio of 86.52, a price-to-earnings-growth ratio of 3.65 and a beta of 0.57. 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 business had revenue of $165.50 million for the quarter, compared to the consensus estimate of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the business posted $0.58 EPS. Equities research analysts predict that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on PECO. Mizuho raised their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a research note on Wednesday, November 13th. Compass Point raised their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Phillips Edison & Company, Inc. presently has a consensus rating of “Hold” and an average target price of $38.43.

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.