Harbor Capital Advisors Inc. Cuts Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Harbor Capital Advisors Inc. trimmed its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 7.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,871 shares of the company’s stock after selling 5,815 shares during the period. Harbor Capital Advisors Inc. owned about 0.06% of Phillips Edison & Company, Inc. worth $2,710,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. 1620 Investment Advisors Inc. bought a new position in shares of Phillips Edison & Company, Inc. during the second quarter valued at about $26,000. V Square Quantitative Management LLC bought a new position in shares of Phillips Edison & Company, Inc. during the third quarter valued at about $28,000. Hobbs Group Advisors LLC bought a new position in shares of Phillips Edison & Company, Inc. during the second quarter valued at about $39,000. PFG Private Wealth Management LLC bought a new position in shares of Phillips Edison & Company, Inc. during the second quarter valued at about $62,000. Finally, Blue Trust Inc. raised its stake in shares of Phillips Edison & Company, Inc. by 160.2% during the second quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock valued at $75,000 after acquiring an additional 1,290 shares during the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO opened at $38.08 on Tuesday. The stock has a market cap of $4.67 billion, a PE ratio of 82.78, a price-to-earnings-growth ratio of 3.47 and a beta of 0.57. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $39.08. The firm’s 50-day simple moving average is $37.30 and its two-hundred day simple moving average is $34.67.

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

Phillips Edison & Company, Inc. Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.’s payout ratio is 267.39%.

Analyst Upgrades and Downgrades

PECO has been the subject of several recent analyst reports. Mizuho upped their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Finally, Compass Point increased their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $37.50.

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.