DekaBank Deutsche Girozentrale trimmed its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO – Free Report) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,240 shares of the company’s stock after selling 1,158 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Phillips Edison & Company, Inc. were worth $961,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Raymond James & Associates acquired a new position in shares of Phillips Edison & Company, Inc. in the 1st quarter valued at about $935,000. Bank of New York Mellon Corp lifted its stake in shares of Phillips Edison & Company, Inc. by 395.2% in the 1st quarter. Bank of New York Mellon Corp now owns 464,380 shares of the company’s stock valued at $15,970,000 after purchasing an additional 370,609 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Phillips Edison & Company, Inc. by 113.0% in the 1st quarter. HighTower Advisors LLC now owns 21,301 shares of the company’s stock valued at $733,000 after purchasing an additional 11,301 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Phillips Edison & Company, Inc. by 7.6% in the 1st quarter. Citigroup Inc. now owns 53,264 shares of the company’s stock valued at $1,832,000 after purchasing an additional 3,775 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Phillips Edison & Company, Inc. in the 1st quarter valued at about $99,000. 83.48% of the stock is owned by institutional investors and hedge funds.
Phillips Edison & Company, Inc. Stock Down 0.4 %
PECO stock opened at $34.06 on Friday. Phillips Edison & Company, Inc. has a 52-week low of $27.30 and a 52-week high of $36.46. The stock’s 50 day moving average is $34.35 and its two-hundred day moving average is $32.92. The company has a market capitalization of $4.00 billion, a PE ratio of 74.04, a P/E/G ratio of 3.23 and a beta of 0.65.
Phillips Edison & Company, Inc. Increases Dividend
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. Wells Fargo & Company lowered Phillips Edison & Company, Inc. from an “equal weight” rating to an “underweight” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, September 20th. The Goldman Sachs Group raised their target price on Phillips Edison & Company, Inc. from $39.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Compass Point raised their target price on Phillips Edison & Company, Inc. from $32.00 to $36.00 in a report on Thursday, August 3rd. Mizuho raised their target price on Phillips Edison & Company, Inc. from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, September 18th. Finally, Wolfe Research downgraded Phillips Edison & Company, Inc. from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Phillips Edison & Company, Inc. presently has an average rating of “Hold” and a consensus target price of $36.60.
View Our Latest Research Report on Phillips Edison & Company, Inc.
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.
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