Maryland State Retirement & Pension System Sells 18,797 Shares of Phillips Edison & Company, Inc. $PECO

Maryland State Retirement & Pension System lessened its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 51.0% in the third quarter, Holdings Channel.com reports. The firm owned 18,056 shares of the company’s stock after selling 18,797 shares during the period. Maryland State Retirement & Pension System’s holdings in Phillips Edison & Company, Inc. were worth $620,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 1.0% in the second quarter. Lazard Asset Management LLC now owns 30,876 shares of the company’s stock valued at $1,081,000 after purchasing an additional 314 shares in the last quarter. CWM LLC raised its position in Phillips Edison & Company, Inc. by 2.0% in the 2nd quarter. CWM LLC now owns 19,777 shares of the company’s stock valued at $693,000 after buying an additional 385 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Phillips Edison & Company, Inc. by 3.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 14,911 shares of the company’s stock valued at $522,000 after acquiring an additional 479 shares in the last quarter. M&G PLC lifted its stake in Phillips Edison & Company, Inc. by 11.1% in the 2nd quarter. M&G PLC now owns 5,631 shares of the company’s stock valued at $197,000 after acquiring an additional 564 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Phillips Edison & Company, Inc. by 1.0% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 60,852 shares of the company’s stock worth $2,132,000 after acquiring an additional 597 shares during the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Trading Down 0.8%

NASDAQ PECO opened at $35.44 on Friday. The firm’s fifty day moving average price is $35.28 and its two-hundred day moving average price is $34.75. Phillips Edison & Company, Inc. has a 1 year low of $32.40 and a 1 year high of $37.76. The firm has a market capitalization of $4.46 billion, a P/E ratio of 53.70, a price-to-earnings-growth ratio of 1.41 and a beta of 0.53.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.44). The firm had revenue of $182.67 million during the quarter, compared to the consensus estimate of $177.19 million. Phillips Edison & Company, Inc. had a net margin of 11.51% and a return on equity of 3.14%. The business’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the business earned $0.62 EPS. On average, research analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be issued a dividend of $0.1083 per share. The ex-dividend date is Tuesday, February 17th. This represents a c) dividend on an annualized basis and a yield of 3.7%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 196.97%.

Analyst Ratings Changes

A number of analysts have recently issued reports on PECO shares. Evercore ISI started coverage on shares of Phillips Edison & Company, Inc. in a report on Thursday, January 15th. They issued an “outperform” rating and a $41.00 price objective on the stock. Mizuho set a $39.00 price target on shares of Phillips Edison & Company, Inc. in a research note on Friday, January 9th. Wells Fargo & Company began coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday, October 21st. They set an “equal weight” rating and a $36.00 price target on the stock. Wall Street Zen upgraded Phillips Edison & Company, Inc. from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Morgan Stanley lifted their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of “Hold” and a consensus price target of $38.86.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of grocery-anchored, necessity-based shopping centers. The company’s investment strategy is centered on properties that benefit from everyday consumer demand, seeking to deliver stable cash flows through long-term, triple-net leases with national and regional tenants in the grocery, drugstore and essential retail sectors.

In addition to its core retail portfolio, Phillips Edison & Company provides integrated services covering property management, asset management, leasing, development and acquisition sourcing.