Phillips Edison & Company, Inc. (NASDAQ:PECO) Sees Large Volume Increase

Phillips Edison & Company, Inc. (NASDAQ:PECO) saw unusually-high trading volume on Wednesday . Approximately 413,159 shares changed hands during trading, a decline of 33% from the previous session’s volume of 617,636 shares.The stock last traded at $31.87 and had previously closed at $31.83.

Analysts Set New Price Targets

PECO has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Mizuho lowered their price objective on Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on Phillips Edison & Company, Inc. in a research report on Tuesday, January 30th. They issued a “buy” rating and a $41.00 price target for the company. Finally, Compass Point lowered their price target on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.57.

Phillips Edison & Company, Inc. Trading Down 1.3 %

The business has a 50-day moving average price of $33.58 and a 200-day moving average price of $34.81. The firm has a market cap of $3.86 billion, a P/E ratio of 68.54, a P/E/G ratio of 3.25 and a beta of 0.59.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be given a dividend of $0.0975 per share. This represents a $1.17 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Monday, July 15th. Phillips Edison & Company, Inc.’s payout ratio is currently 254.35%.

Institutional Investors Weigh In On Phillips Edison & Company, Inc.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PECO. Teacher Retirement System of Texas raised its stake in Phillips Edison & Company, Inc. by 10.3% in the third quarter. Teacher Retirement System of Texas now owns 54,842 shares of the company’s stock valued at $1,839,000 after buying an additional 5,101 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Phillips Edison & Company, Inc. by 5.1% in the third quarter. Nisa Investment Advisors LLC now owns 46,053 shares of the company’s stock worth $1,545,000 after purchasing an additional 2,233 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Phillips Edison & Company, Inc. by 101.9% in the third quarter. California Public Employees Retirement System now owns 159,639 shares of the company’s stock worth $5,354,000 after purchasing an additional 80,589 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Phillips Edison & Company, Inc. by 2.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 130,550 shares of the company’s stock worth $4,379,000 after purchasing an additional 3,390 shares during the last quarter. Finally, NBC Securities Inc. purchased a new position in shares of Phillips Edison & Company, Inc. in the third quarter worth about $290,000. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

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.