Cornercap Investment Counsel Inc. Lowers Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Cornercap Investment Counsel Inc. trimmed its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 48.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,017 shares of the company’s stock after selling 11,227 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Phillips Edison & Company, Inc. were worth $453,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. 1620 Investment Advisors Inc. bought a new stake in Phillips Edison & Company, Inc. in the 2nd quarter worth approximately $26,000. V Square Quantitative Management LLC purchased a new position in shares of Phillips Edison & Company, Inc. during the 3rd quarter valued at $28,000. Hobbs Group Advisors LLC purchased a new stake in Phillips Edison & Company, Inc. in the 2nd quarter worth $39,000. PFG Private Wealth Management LLC purchased a new stake in Phillips Edison & Company, Inc. in the 2nd quarter worth $62,000. Finally, Blue Trust Inc. lifted its stake in Phillips Edison & Company, Inc. by 160.2% in the 2nd quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock worth $75,000 after purchasing an additional 1,290 shares in the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Stock Up 1.0 %

Shares of NASDAQ:PECO opened at $39.01 on Friday. The business has a fifty day moving average of $37.67 and a two-hundred day moving average of $35.04. The stock has a market cap of $4.78 billion, a P/E ratio of 84.80, a PEG ratio of 3.59 and a beta of 0.57. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $39.83.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The firm had revenue of $165.50 million for the quarter, compared to analyst estimates of $157.20 million. During the same period in the previous year, the company posted $0.58 EPS. Phillips Edison & Company, Inc.’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Tuesday, February 18th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 267.39%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Wednesday. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Mizuho upped their price target on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Finally, Compass Point upped their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. presently has an average rating of “Hold” and an average price target of $38.43.

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.