Cornercap Investment Counsel Inc. Sells 4,110 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Cornercap Investment Counsel Inc. lowered its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 34.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,907 shares of the company’s stock after selling 4,110 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Phillips Edison & Company, Inc. were worth $296,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of Phillips Edison & Company, Inc. during the 3rd quarter worth about $36,000. Allworth Financial LP boosted its holdings in Phillips Edison & Company, Inc. by 94.6% during the fourth quarter. Allworth Financial LP now owns 1,621 shares of the company’s stock valued at $58,000 after purchasing an additional 788 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Phillips Edison & Company, Inc. by 24.9% in the 4th quarter. Blue Trust Inc. now owns 3,023 shares of the company’s stock valued at $113,000 after purchasing an additional 603 shares during the period. Eukles Asset Management acquired a new stake in Phillips Edison & Company, Inc. in the 4th quarter valued at $156,000. Finally, KBC Group NV raised its stake in Phillips Edison & Company, Inc. by 13.4% during the fourth quarter. KBC Group NV now owns 4,424 shares of the company’s stock worth $166,000 after acquiring an additional 522 shares in the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

PECO stock opened at $35.96 on Friday. The stock has a market capitalization of $4.50 billion, a PE ratio of 71.92, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. The company has a 50 day moving average price of $36.10 and a 200 day moving average price of $37.26. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. As a group, equities analysts expect that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a $0.1025 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $1.23 annualized dividend and a yield of 3.42%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 246.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PECO shares. Mizuho lowered their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Wells Fargo & Company dropped their price target on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Phillips Edison & Company, Inc. has a consensus rating of “Moderate Buy” and a consensus target price of $38.83.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.