20,600 Shares in Phillips Edison & Company, Inc. (NASDAQ:PECO) Bought by HGI Capital Management LLC

HGI Capital Management LLC bought a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 20,600 shares of the company’s stock, valued at approximately $751,000. Phillips Edison & Company, Inc. accounts for approximately 0.9% of HGI Capital Management LLC’s portfolio, making the stock its 24th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Phillips Edison & Company, Inc. during the fourth quarter worth about $48,562,000. Dimensional Fund Advisors LP boosted its position in shares of Phillips Edison & Company, Inc. by 33.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 918,665 shares of the company’s stock worth $33,513,000 after buying an additional 232,191 shares during the period. FMR LLC boosted 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 buying an additional 186,651 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Phillips Edison & Company, Inc. by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,872,476 shares of the company’s stock worth $68,308,000 after buying an additional 145,078 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of Phillips Edison & Company, Inc. by 2,331.3% during the fourth quarter. International Assets Investment Management LLC now owns 137,201 shares of the company’s stock worth $5,005,000 after buying an additional 131,558 shares during the period. Institutional investors and hedge funds own 80.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PECO. Wells Fargo & Company dropped their target price on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating on the stock in a report on Tuesday, May 28th. Mizuho dropped their price objective on Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. JPMorgan Chase & Co. dropped their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Finally, Compass Point decreased their target price on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. has an average rating of “Hold” and a consensus price target of $37.43.

Phillips Edison & Company, Inc. Stock Down 0.0 %

Shares of Phillips Edison & Company, Inc. stock traded down $0.01 on Friday, hitting $31.68. The stock had a trading volume of 678,212 shares, compared to its average volume of 699,516. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $37.92. The business’s 50 day moving average is $32.72 and its two-hundred day moving average is $34.59. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 68.87, a price-to-earnings-growth ratio of 3.21 and a beta of 0.56.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be given a $0.0975 dividend. This represents a $1.17 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Monday, July 15th. Phillips Edison & Company, Inc.’s payout ratio is 254.35%.

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.