Creative Planning grew its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Free Report) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,643 shares of the company’s stock after purchasing an additional 581 shares during the period. Creative Planning’s holdings in Phillips Edison & Company, Inc. were worth $1,794,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the stock. Clearstead Advisors LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter worth about $25,000. Rockefeller Capital Management L.P. raised its holdings in shares of Phillips Edison & Company, Inc. by 5,000.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,326 shares of the company’s stock worth $42,000 after acquiring an additional 1,300 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the 2nd quarter worth about $43,000. Ronald Blue Trust Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 88.4% in the 2nd quarter. Ronald Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $46,000 after acquiring an additional 666 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in Phillips Edison & Company, Inc. in the 1st quarter valued at about $48,000. Institutional investors and hedge funds own 83.48% of the company’s stock.
Analyst Upgrades and Downgrades
PECO has been the subject of several analyst reports. Wolfe Research lowered shares of Phillips Edison & Company, Inc. from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 5th. The Goldman Sachs Group increased their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. Wells Fargo & Company lowered shares of Phillips Edison & Company, Inc. from an “equal weight” rating to an “underweight” rating and set a $35.00 price objective for the company. in a research note on Wednesday, September 20th. Compass Point increased their price objective on shares of Phillips Edison & Company, Inc. from $32.00 to $36.00 in a research note on Thursday, August 3rd. Finally, Mizuho increased their price objective on shares of Phillips Edison & Company, Inc. from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, September 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.60.
Phillips Edison & Company, Inc. Stock Up 2.4 %
Phillips Edison & Company, Inc. stock opened at $34.70 on Thursday. Phillips Edison & Company, Inc. has a twelve month low of $27.30 and a twelve month high of $36.46. The firm has a 50 day moving average price of $34.41 and a 200-day moving average price of $32.88. The company has a market capitalization of $4.07 billion, a P/E ratio of 75.43, a P/E/G ratio of 3.23 and a beta of 0.65.
Phillips Edison & Company, Inc. Increases Dividend
The business also recently announced a monthly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Monday, October 16th will be given a dividend of $0.0975 per share. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Friday, October 13th. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 254.35%.
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.
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