RMR Wealth Builders Sells 15,348 Shares of Phillips Edison & Company, Inc. $PECO

RMR Wealth Builders lessened its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 30.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,492 shares of the company’s stock after selling 15,348 shares during the period. RMR Wealth Builders’ holdings in Phillips Edison & Company, Inc. were worth $1,188,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. State Street Corp boosted its holdings in shares of Phillips Edison & Company, Inc. by 2.3% in the second quarter. State Street Corp now owns 7,349,080 shares of the company’s stock valued at $258,169,000 after buying an additional 166,108 shares during the period. Geode Capital Management LLC raised its holdings in shares of Phillips Edison & Company, Inc. by 2.0% during the second quarter. Geode Capital Management LLC now owns 3,395,070 shares of the company’s stock worth $118,942,000 after acquiring an additional 65,782 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Phillips Edison & Company, Inc. by 1.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,209,158 shares of the company’s stock valued at $77,387,000 after acquiring an additional 35,107 shares in the last quarter. Norges Bank acquired a new position in Phillips Edison & Company, Inc. in the 2nd quarter worth $55,410,000. Finally, Duff & Phelps Investment Management Co. increased its holdings in Phillips Edison & Company, Inc. by 1.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,522,883 shares of the company’s stock worth $53,347,000 after purchasing an additional 14,403 shares in the last quarter. 80.70% of the stock is owned by institutional investors.

Phillips Edison & Company, Inc. Price Performance

Phillips Edison & Company, Inc. stock opened at $37.22 on Thursday. The company’s 50-day moving average is $35.47 and its 200-day moving average is $34.83. The firm has a market capitalization of $4.68 billion, a PE ratio of 56.39, a P/E/G ratio of 0.93 and a beta of 0.53. Phillips Edison & Company, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $37.65.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Evercore ISI began coverage on Phillips Edison & Company, Inc. in a report on Thursday, January 15th. They issued an “outperform” rating and a $41.00 price target on the stock. Mizuho set a $39.00 target price on Phillips Edison & Company, Inc. in a research report on Friday, January 9th. KeyCorp reaffirmed a “sector weight” rating on shares of Phillips Edison & Company, Inc. in a research report on Thursday, December 18th. Morgan Stanley lifted their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Phillips Edison & Company, Inc. in a research report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $38.86.

Phillips Edison & Company, Inc. 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.