Well Done LLC Lowers Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Well Done LLC reduced its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 61.9% during the 3rd quarter, Holdings Channel reports. The fund owned 14,009 shares of the company’s stock after selling 22,720 shares during the quarter. Well Done LLC’s holdings in Phillips Edison & Company, Inc. were worth $528,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PECO. Duff & Phelps Investment Management Co. acquired a new stake in shares of Phillips Edison & Company, Inc. in the second quarter valued at $32,120,000. Cetera Investment Advisers raised its stake in shares of Phillips Edison & Company, Inc. by 240.9% in the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock valued at $41,971,000 after acquiring an additional 826,891 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Phillips Edison & Company, Inc. by 3.1% in the first quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock valued at $693,619,000 after acquiring an additional 577,445 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of Phillips Edison & Company, Inc. by 60.4% in the first quarter. Cetera Advisors LLC now owns 791,147 shares of the company’s stock valued at $28,378,000 after acquiring an additional 297,945 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the second quarter valued at $8,397,000. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Stock Down 0.1 %

Phillips Edison & Company, Inc. stock traded down $0.02 during midday trading on Friday, reaching $37.10. The company’s stock had a trading volume of 26,721 shares, compared to its average volume of 662,391. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $39.08. The company has a market cap of $4.54 billion, a P/E ratio of 80.70, a P/E/G ratio of 3.43 and a beta of 0.57. The business has a 50-day simple moving average of $36.84 and a 200-day simple moving average of $34.35.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The firm had revenue of $161.52 million for the quarter, compared to analyst estimates of $156.29 million. During the same quarter last year, the firm posted $0.59 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts forecast that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.1025 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.32%. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s payout ratio is 267.39%.

Analyst Ratings Changes

Several analysts have recently issued reports on PECO shares. Compass Point increased their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Mizuho raised their price target on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.50.

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.