Spire Wealth Management Purchases 3,506 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Spire Wealth Management boosted its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,787 shares of the company’s stock after acquiring an additional 3,506 shares during the quarter. Spire Wealth Management’s holdings in Phillips Edison & Company, Inc. were worth $1,347,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its stake in shares of Phillips Edison & Company, Inc. by 46.4% during the third quarter. Public Employees Retirement System of Ohio now owns 868 shares of the company’s stock valued at $29,000 after purchasing an additional 275 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Phillips Edison & Company, Inc. by 0.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,862 shares of the company’s stock valued at $2,074,000 after acquiring an additional 306 shares during the period. Strs Ohio raised its position in shares of Phillips Edison & Company, Inc. by 1.6% in the 3rd quarter. Strs Ohio now owns 24,900 shares of the company’s stock worth $835,000 after acquiring an additional 400 shares in the last quarter. Silver Oak Securities Incorporated raised its position in shares of Phillips Edison & Company, Inc. by 1.5% in the 3rd quarter. Silver Oak Securities Incorporated now owns 28,770 shares of the company’s stock worth $965,000 after acquiring an additional 414 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Phillips Edison & Company, Inc. by 1.4% during the third quarter. Arizona State Retirement System now owns 33,399 shares of the company’s stock valued at $1,120,000 after purchasing an additional 460 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors.

Phillips Edison & Company, Inc. Trading Up 1.9 %

Shares of Phillips Edison & Company, Inc. stock opened at $33.42 on Wednesday. The firm’s 50 day simple moving average is $34.36 and its two-hundred day simple moving average is $34.97. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 72.65, a PEG ratio of 3.92 and a beta of 0.59. Phillips Edison & Company, Inc. has a 12-month low of $27.85 and a 12-month high of $37.92.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be given a $0.0975 dividend. This represents a $1.17 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Monday, July 15th. Phillips Edison & Company, Inc.’s payout ratio is 254.35%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PECO. Compass Point decreased their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday, January 30th. They set a “buy” rating and a $41.00 target price for the company. JPMorgan Chase & Co. cut their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Finally, Mizuho raised Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and upped their price target for the stock from $35.00 to $37.00 in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. currently has an average rating of “Hold” and a consensus price target of $38.14.

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.