First Foundation Advisors Sells 4,067 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

First Foundation Advisors cut its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,615 shares of the company’s stock after selling 4,067 shares during the quarter. First Foundation Advisors’ holdings in Phillips Edison & Company, Inc. were worth $2,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Centiva Capital LP purchased a new position in shares of Phillips Edison & Company, Inc. during the third quarter valued at approximately $318,000. HighTower Advisors LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 26.9% during the third quarter. HighTower Advisors LLC now owns 31,411 shares of the company’s stock valued at $1,191,000 after purchasing an additional 6,666 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Phillips Edison & Company, Inc. during the third quarter valued at approximately $588,000. State Street Corp lifted its holdings in shares of Phillips Edison & Company, Inc. by 0.3% during the third quarter. State Street Corp now owns 7,068,684 shares of the company’s stock valued at $267,289,000 after purchasing an additional 18,429 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 54.6% during the third quarter. Jane Street Group LLC now owns 172,712 shares of the company’s stock valued at $6,513,000 after purchasing an additional 61,011 shares during the last quarter. 80.70% of the stock is owned by institutional investors.

Phillips Edison & Company, Inc. Price Performance

NASDAQ PECO traded up $0.13 during mid-day trading on Thursday, hitting $35.05. The company’s stock had a trading volume of 25,516 shares, compared to its average volume of 689,982. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The stock’s fifty day simple moving average is $35.87 and its two-hundred day simple moving average is $37.05. The firm has a market capitalization of $4.39 billion, a P/E ratio of 70.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. On average, equities analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a $0.1025 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.51%. Phillips Edison & Company, Inc.’s dividend payout ratio is 246.00%.

Analyst Ratings Changes

PECO has been the subject of a number of recent analyst reports. Mizuho decreased their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. Wells Fargo & Company decreased their price target on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.83.

About Phillips Edison & Company, Inc.

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.