Global Wealth Management Investment Advisory Inc. Sells 2,072 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Global Wealth Management Investment Advisory Inc. lowered its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 22.8% in the fourth quarter, Holdings Channel reports. The fund owned 7,014 shares of the company’s stock after selling 2,072 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Phillips Edison & Company, Inc. were worth $256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PECO. Handelsbanken Fonder AB raised its holdings in Phillips Edison & Company, Inc. by 26.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 31,100 shares of the company’s stock valued at $1,043,000 after buying an additional 6,600 shares during the last quarter. Legacy Financial Group LLC bought a new position in Phillips Edison & Company, Inc. in the 3rd quarter valued at approximately $64,000. Kure Advisory LLC bought a new position in Phillips Edison & Company, Inc. in the 3rd quarter valued at approximately $289,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Phillips Edison & Company, Inc. by 6.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,662 shares of the company’s stock valued at $1,632,000 after buying an additional 2,880 shares during the last quarter. Finally, Castleview Partners LLC raised its holdings in Phillips Edison & Company, Inc. by 11.9% in the 3rd quarter. Castleview Partners LLC now owns 16,798 shares of the company’s stock valued at $563,000 after buying an additional 1,788 shares during the last quarter. Institutional investors own 80.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They issued a “buy” rating and a $41.00 price objective for the company. Compass Point dropped 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 report on Monday. JPMorgan Chase & Co. dropped their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Finally, Mizuho upgraded shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and raised their price objective for the company from $35.00 to $37.00 in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $38.14.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ:PECO opened at $32.67 on Thursday. The company has a market capitalization of $3.99 billion, a PE ratio of 71.02, a P/E/G ratio of 3.87 and a beta of 0.59. The company has a 50 day simple moving average of $34.52 and a two-hundred day simple moving average of $35.02. Phillips Edison & Company, Inc. has a fifty-two week low of $27.85 and a fifty-two week high of $37.92.

Phillips Edison & Company, Inc. Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.097 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Tuesday, May 14th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 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.