Vestcor Inc Sells 59,468 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Vestcor Inc reduced its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 95.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,841 shares of the company’s stock after selling 59,468 shares during the period. Vestcor Inc’s holdings in Phillips Edison & Company, Inc. were worth $107,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. 1620 Investment Advisors Inc. purchased 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 Phillips Edison & Company, Inc. during the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new position in Phillips Edison & Company, Inc. during the 3rd quarter valued at approximately $36,000. Hobbs Group Advisors LLC bought a new stake in Phillips Edison & Company, Inc. in the 2nd quarter worth approximately $39,000. Finally, Blue Trust Inc. increased its stake in Phillips Edison & Company, Inc. by 160.2% in the 2nd quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock worth $75,000 after acquiring an additional 1,290 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PECO has been the subject of a number of research reports. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Mizuho increased their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Wednesday, November 13th. Finally, Compass Point upped their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Phillips Edison & Company, Inc. currently has a consensus rating of “Hold” and an average price target of $39.14.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ:PECO opened at $39.20 on Friday. The firm has a market capitalization of $4.81 billion, a PE ratio of 85.22, a PEG ratio of 3.58 and a beta of 0.57. The stock’s fifty day moving average is $38.23 and its 200 day moving average is $35.96. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted 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). The firm had revenue of $165.50 million for the quarter, compared to the consensus estimate of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 EPS. Equities analysts forecast that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 267.39%.

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.