Cornercap Investment Counsel Inc. Sells 4,110 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Cornercap Investment Counsel Inc. lessened its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 34.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,907 shares of the company’s stock after selling 4,110 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Phillips Edison & Company, Inc. were worth $296,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new position in Phillips Edison & Company, Inc. in the 3rd quarter worth $36,000. Allworth Financial LP lifted its holdings in shares of Phillips Edison & Company, Inc. by 94.6% in the fourth quarter. Allworth Financial LP now owns 1,621 shares of the company’s stock valued at $58,000 after purchasing an additional 788 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Phillips Edison & Company, Inc. by 24.9% during the fourth quarter. Blue Trust Inc. now owns 3,023 shares of the company’s stock worth $113,000 after buying an additional 603 shares during the period. Eukles Asset Management bought a new position in shares of Phillips Edison & Company, Inc. during the fourth quarter worth about $156,000. Finally, KBC Group NV raised its position in Phillips Edison & Company, Inc. by 13.4% in the 4th quarter. KBC Group NV now owns 4,424 shares of the company’s stock valued at $166,000 after buying an additional 522 shares during the last quarter. Institutional investors own 80.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PECO shares. JPMorgan Chase & Co. reduced their price target on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Mizuho reduced their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. Finally, Wells Fargo & Company decreased their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.83.

Phillips Edison & Company, Inc. Trading Up 0.8 %

NASDAQ PECO opened at $35.96 on Friday. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The stock has a 50 day moving average of $36.10 and a 200-day moving average of $37.26. The company has a market cap of $4.50 billion, a PE ratio of 71.92, a PEG ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. As a group, sell-side analysts predict 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 Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Tuesday, April 15th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 246.00%.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.