International Assets Investment Management LLC Has $250,000 Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Posted by Defense World Staff on Jul 4th, 2023

International Assets Investment Management LLC cut its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO – Free Report) by 55.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,675 shares of the company’s stock after selling 9,419 shares during the quarter. International Assets Investment Management LLC’s holdings in Phillips Edison & Company, Inc. were worth $250,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Nordea Investment Management AB acquired a new stake in Phillips Edison & Company, Inc. in the first quarter valued at approximately $10,234,000. State of Alaska Department of Revenue lifted its position in Phillips Edison & Company, Inc. by 2.9% during the 1st quarter. State of Alaska Department of Revenue now owns 60,674 shares of the company’s stock worth $1,978,000 after acquiring an additional 1,738 shares during the last quarter. B.O.S.S. Retirement Advisors LLC lifted its position in Phillips Edison & Company, Inc. by 14.0% during the 1st quarter. B.O.S.S. Retirement Advisors LLC now owns 7,820 shares of the company’s stock worth $255,000 after acquiring an additional 962 shares during the last quarter. Lion Street Advisors LLC acquired a new position in Phillips Edison & Company, Inc. during the 1st quarter worth $237,000. Finally, Baker Tilly Wealth Management LLC raised its position in shares of Phillips Edison & Company, Inc. by 22.3% during the first quarter. Baker Tilly Wealth Management LLC now owns 8,688 shares of the company’s stock valued at $283,000 after buying an additional 1,585 shares during the last quarter. 70.35% of the stock is currently owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Stock Up 0.4 %

NASDAQ:PECO opened at $34.20 on Tuesday. Phillips Edison & Company, Inc. has a 12-month low of $27.07 and a 12-month high of $35.41. The firm has a market capitalization of $4.01 billion, a PE ratio of 72.77, a price-to-earnings-growth ratio of 3.61 and a beta of 0.65. The firm has a 50-day moving average price of $31.15 and a 200 day moving average price of $31.99.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 17th will be paid a dividend of $0.0933 per share. The ex-dividend date is Friday, July 14th. This represents a $1.12 annualized dividend and a yield of 3.27%. Phillips Edison & Company, Inc.’s dividend payout ratio is 238.30%.

Wall Street Analysts Forecast Growth

PECO has been the subject of a number of research analyst reports. Wells Fargo & Company initiated coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday, May 23rd. They set an “equal weight” rating and a $31.00 price objective for the company. Mizuho cut their price objective on shares of Phillips Edison & Company, Inc. from $35.00 to $30.00 in a research report on Thursday, May 25th. Finally, The Goldman Sachs Group initiated coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday, March 21st. They set a “buy” rating and a $38.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $33.00.

Insiders Place Their Bets

In other news, Director Leslie T. Chao acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were purchased at an average cost of $29.18 per share, with a total value of $291,800.00. Following the completion of the purchase, the director now owns 45,426 shares of the company’s stock, valued at $1,325,530.68. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 7.90% of the company’s stock.

Phillips Edison & Company, Inc. Profile

(Free Report)

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.