Global Wealth Management Investment Advisory Inc. decreased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Free Report) by 22.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 quarter.
Several other institutional investors also recently modified their holdings of PECO. Handelsbanken Fonder AB grew its position in shares of Phillips Edison & Company, Inc. by 26.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 31,100 shares of the company’s stock worth $1,043,000 after buying an additional 6,600 shares during the period. Legacy Financial Group LLC acquired a new stake in shares of Phillips Edison & Company, Inc. during the 3rd quarter worth approximately $64,000. Kure Advisory LLC acquired a new position in Phillips Edison & Company, Inc. during the third quarter valued at approximately $289,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Phillips Edison & Company, Inc. by 6.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,662 shares of the company’s stock valued at $1,632,000 after purchasing an additional 2,880 shares during the period. Finally, Castleview Partners LLC grew its holdings in Phillips Edison & Company, Inc. by 11.9% during the third quarter. Castleview Partners LLC now owns 16,798 shares of the company’s stock valued at $563,000 after purchasing an additional 1,788 shares during the period. Institutional investors and hedge funds own 80.70% of the company’s stock.
Phillips Edison & Company, Inc. Stock Performance
Shares of PECO opened at $32.67 on Thursday. Phillips Edison & Company, Inc. has a twelve month low of $27.85 and a twelve month high of $37.92. The firm’s 50 day moving average price is $34.52 and its two-hundred day moving average price is $35.02. The firm has a market cap of $3.99 billion, a P/E ratio of 71.02, a PEG ratio of 3.87 and a beta of 0.59.
Phillips Edison & Company, Inc. Cuts Dividend
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on PECO shares. Mizuho upgraded shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $37.00 in a report on Friday, February 23rd. JPMorgan Chase & Co. decreased 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. Compass Point decreased 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They set a “buy” rating and a $41.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $38.14.
Get Our Latest Stock Report on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. 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.
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