Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lowered its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 39.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,283 shares of the company’s stock after selling 9,827 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Phillips Edison & Company, Inc. were worth $558,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its stake in shares of Phillips Edison & Company, Inc. by 46.4% in the third quarter. Public Employees Retirement System of Ohio now owns 868 shares of the company’s stock valued at $29,000 after purchasing an additional 275 shares during the period. Creative Financial Designs Inc. ADV raised its stake in shares of Phillips Edison & Company, Inc. by 207.4% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,543 shares of the company’s stock valued at $56,000 after acquiring an additional 1,041 shares in the last quarter. GAMMA Investing LLC purchased a new position in Phillips Edison & Company, Inc. in the fourth quarter valued at $73,000. Retirement Financial Solutions LLC acquired a new position in Phillips Edison & Company, Inc. during the 4th quarter worth $202,000. Finally, Realta Investment Advisors acquired a new stake in Phillips Edison & Company, Inc. in the 4th quarter valued at about $208,000. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Price Performance

PECO opened at $33.42 on Wednesday. The stock’s 50 day simple moving average is $34.36 and its 200 day simple moving average is $34.97. The stock has a market cap of $4.09 billion, a P/E ratio of 72.65, a P/E/G ratio of 3.92 and a beta of 0.59. Phillips Edison & Company, Inc. has a 1-year low of $27.85 and a 1-year high of $37.92.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be paid a $0.0975 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Monday, July 15th. Phillips Edison & Company, Inc.’s payout ratio is currently 254.35%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They set a “buy” rating and a $41.00 price target for the company. Mizuho upgraded Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and raised their price target for the stock from $35.00 to $37.00 in a research note on Friday, February 23rd. Compass Point reduced their target price 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, April 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $38.14.

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.