Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Sold by Kestra Advisory Services LLC

Posted by on Apr 19th, 2023

Kestra Advisory Services LLC decreased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) by 13.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 116,062 shares of the company’s stock after selling 18,726 shares during the quarter. Kestra Advisory Services LLC owned approximately 0.10% of Phillips Edison & Company, Inc. worth $3,695,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Triumph Capital Management purchased a new stake in Phillips Edison & Company, Inc. during the fourth quarter worth approximately $351,000. AE Wealth Management LLC lifted its stake in Phillips Edison & Company, Inc. by 3.1% during the fourth quarter. AE Wealth Management LLC now owns 324,777 shares of the company’s stock worth $10,342,000 after purchasing an additional 9,851 shares during the last quarter. Bell Bank lifted its stake in Phillips Edison & Company, Inc. by 7.9% during the fourth quarter. Bell Bank now owns 53,820 shares of the company’s stock worth $1,714,000 after purchasing an additional 3,958 shares during the last quarter. WFA of San Diego LLC purchased a new stake in Phillips Edison & Company, Inc. during the fourth quarter worth approximately $26,000. Finally, New York State Common Retirement Fund lifted its stake in Phillips Edison & Company, Inc. by 4.2% during the fourth quarter. New York State Common Retirement Fund now owns 86,605 shares of the company’s stock worth $2,758,000 after purchasing an additional 3,461 shares during the last quarter. Hedge funds and other institutional investors own 70.90% of the company’s stock.

Analysts Set New Price Targets

PECO has been the subject of a number of research reports. Credit Suisse Group upgraded Phillips Edison & Company, Inc. from a “neutral” rating to an “outperform” rating in a research note on Monday, January 9th. The Goldman Sachs Group initiated coverage on Phillips Edison & Company, Inc. in a research note on Tuesday, March 21st. They issued a “buy” rating and a $38.00 price objective for the company. Finally, Mizuho boosted their price objective on Phillips Edison & Company, Inc. from $33.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, March 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. presently has a consensus rating of “Hold” and an average target price of $34.60.

Phillips Edison & Company, Inc. Trading Down 0.3 %

NASDAQ:PECO opened at $31.47 on Wednesday. The firm has a market cap of $3.69 billion, a P/E ratio of 74.93, a PEG ratio of 3.63 and a beta of 0.55. The stock’s 50 day simple moving average is $32.46 and its 200-day simple moving average is $31.77. Phillips Edison & Company, Inc. has a 12-month low of $27.07 and a 12-month high of $36.31.

Phillips Edison & Company, Inc. Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 17th will be issued a $0.093 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Friday, April 14th. Phillips Edison & Company, Inc.’s payout ratio is currently 266.67%.

About Phillips Edison & Company, Inc.

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Phillips Edison & Company, Inc (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States.

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Institutional Ownership by Quarter for Phillips Edison & Company, Inc. (NASDAQ:PECO)

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