J.W. Cole Advisors Inc. Reduces Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

J.W. Cole Advisors Inc. reduced its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,415 shares of the company’s stock after selling 6,495 shares during the period. J.W. Cole Advisors Inc. owned 0.06% of Phillips Edison & Company, Inc. worth $2,642,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. ClariVest Asset Management LLC increased its stake in Phillips Edison & Company, Inc. by 73,077.5% in the third quarter. ClariVest Asset Management LLC now owns 29,271 shares of the company’s stock valued at $981,000 after purchasing an additional 29,231 shares during the last quarter. LPL Financial LLC increased its stake in Phillips Edison & Company, Inc. by 36.9% in the third quarter. LPL Financial LLC now owns 348,035 shares of the company’s stock valued at $11,673,000 after purchasing an additional 93,719 shares during the last quarter. Mutual of America Capital Management LLC grew its position in shares of Phillips Edison & Company, Inc. by 54.2% during the third quarter. Mutual of America Capital Management LLC now owns 78,593 shares of the company’s stock worth $2,636,000 after acquiring an additional 27,641 shares during the last quarter. FMR LLC grew its position in shares of Phillips Edison & Company, Inc. by 4.0% during the third quarter. FMR LLC now owns 4,874,206 shares of the company’s stock worth $163,481,000 after acquiring an additional 186,651 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in shares of Phillips Edison & Company, Inc. by 7.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 294,243 shares of the company’s stock worth $10,905,000 after acquiring an additional 21,481 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 Up 1.9 %

Shares of NASDAQ PECO traded up $0.61 during mid-day trading on Friday, hitting $33.02. 702,889 shares of the company were exchanged, compared to its average volume of 534,168. The stock has a 50 day simple moving average of $34.76 and a 200-day simple moving average of $35.03. Phillips Edison & Company, Inc. has a 1-year low of $27.85 and a 1-year high of $37.92. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 71.78, a price-to-earnings-growth ratio of 3.65 and a beta of 0.55.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a dividend of $0.0975 per share. The ex-dividend date of this dividend is Friday, April 12th. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.17 annualized dividend and a dividend yield of 3.54%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 254.35%.

Analyst Ratings Changes

PECO has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their target price 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday, January 30th. They set a “buy” rating and a $41.00 target price on the stock. Finally, Mizuho upgraded shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $35.00 to $37.00 in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $38.14.

About Phillips Edison & Company, Inc.

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.