Cadence Bank Sells 1,314 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Cadence Bank lowered its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 10.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,489 shares of the company’s stock after selling 1,314 shares during the period. Cadence Bank’s holdings in Phillips Edison & Company, Inc. were worth $433,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can increased its stake in shares of Phillips Edison & Company, Inc. by 609.1% in the third quarter. Bank of Montreal Can now owns 89,300 shares of the company’s stock worth $3,327,000 after buying an additional 76,706 shares during the period. Daiwa Securities Group Inc. boosted its position in Phillips Edison & Company, Inc. by 6.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 40,835 shares of the company’s stock valued at $1,540,000 after buying an additional 2,640 shares during the period. Centaurus Financial Inc. grew its holdings in Phillips Edison & Company, Inc. by 3.7% in the 3rd quarter. Centaurus Financial Inc. now owns 136,258 shares of the company’s stock worth $5,138,000 after acquiring an additional 4,850 shares during the last quarter. GenTrust LLC purchased a new position in shares of Phillips Edison & Company, Inc. in the third quarter valued at about $221,000. Finally, Citigroup Inc. raised its stake in shares of Phillips Edison & Company, Inc. by 44.6% during the third quarter. Citigroup Inc. now owns 177,569 shares of the company’s stock valued at $6,696,000 after acquiring an additional 54,800 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Wall Street Analysts Forecast Growth

PECO has been the topic of several recent analyst reports. Mizuho raised their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Compass Point upped their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Finally, Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.43.

Phillips Edison & Company, Inc. Stock Up 0.9 %

PECO opened at $39.80 on Thursday. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $40.12. The stock has a market cap of $4.88 billion, a PE ratio of 86.52, a PEG ratio of 3.61 and a beta of 0.57. The business has a 50 day moving average of $37.81 and a 200-day moving average of $35.36.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). The firm had revenue of $165.50 million during the quarter, compared to the consensus estimate of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. Phillips Edison & Company, Inc.’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 EPS. Equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a yield of 3.09%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 267.39%.

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.