Raleigh Capital Management Inc. Sells 729 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Raleigh Capital Management Inc. cut its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 7.6% in the 4th quarter, HoldingsChannel reports. The fund owned 8,889 shares of the company’s stock after selling 729 shares during the period. Raleigh Capital Management Inc.’s holdings in Phillips Edison & Company, Inc. were worth $333,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Barclays PLC boosted its holdings in Phillips Edison & Company, Inc. by 49.2% during the 3rd quarter. Barclays PLC now owns 279,432 shares of the company’s stock worth $10,538,000 after acquiring an additional 92,129 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Phillips Edison & Company, Inc. by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock valued at $78,977,000 after purchasing an additional 102,519 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Phillips Edison & Company, Inc. during the second quarter worth about $2,695,000. Duff & Phelps Investment Management Co. grew its position in Phillips Edison & Company, Inc. by 50.1% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock worth $55,589,000 after purchasing an additional 492,160 shares in the last quarter. Finally, Natixis Advisors LLC grew its position in Phillips Edison & Company, Inc. by 132.6% in the 3rd quarter. Natixis Advisors LLC now owns 43,782 shares of the company’s stock worth $1,651,000 after purchasing an additional 24,963 shares in the last quarter. Institutional investors own 80.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a report on Wednesday, November 13th. Mizuho boosted their price objective on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. decreased their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Moderate Buy” and an average target price of $39.50.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ:PECO opened at $36.30 on Friday. The stock’s 50-day moving average is $37.97 and its 200 day moving average is $36.96. The company has a market cap of $4.45 billion, a PE ratio of 78.91, a P/E/G ratio of 3.18 and a beta of 0.59. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, October 24th. The company reported $0.09 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 company had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. During the same period in the prior year, the business posted $0.58 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts expect that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were issued a $0.1025 dividend. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10. The ex-dividend date of this dividend was Monday, December 16th. This represents a yield of 3.13%. Phillips Edison & Company, Inc.’s dividend payout ratio is 267.39%.

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.