Spire Wealth Management Raises Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Spire Wealth Management increased its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 10.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund 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.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Phillips Edison & Company, Inc. by 1.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,207,617 shares of the company’s stock valued at $174,663,000 after buying an additional 99,383 shares in the last quarter. FMR LLC boosted its holdings in shares of Phillips Edison & Company, Inc. by 4.0% in the third quarter. FMR LLC now owns 4,874,206 shares of the company’s stock worth $163,481,000 after acquiring an additional 186,651 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Phillips Edison & Company, Inc. by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,398 shares of the company’s stock valued at $57,937,000 after purchasing an additional 107,214 shares in the last quarter. Northern Trust Corp raised its stake in shares of Phillips Edison & Company, Inc. by 1.5% during the 3rd quarter. Northern Trust Corp now owns 1,376,392 shares of the company’s stock valued at $46,164,000 after purchasing an additional 20,461 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Phillips Edison & Company, Inc. by 2.4% during the 3rd quarter. Rhumbline Advisers now owns 397,515 shares of the company’s stock worth $13,333,000 after purchasing an additional 9,457 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ:PECO opened at $33.42 on Wednesday. The company’s fifty day moving average price is $34.36 and its 200-day moving average price 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 one year low of $27.85 and a one year high of $37.92.

Phillips Edison & Company, Inc. Announces Dividend

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 paid a $0.0975 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.17 dividend on an annualized basis and a yield of 3.50%. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 254.35%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PECO shares. Deutsche Bank Aktiengesellschaft began coverage on Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They set a “buy” rating and a $41.00 target price for the company. JPMorgan Chase & Co. lowered their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Mizuho upgraded shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and boosted their price target for the company from $35.00 to $37.00 in a research report on Friday, February 23rd. Finally, Compass Point decreased their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Phillips Edison & Company, Inc. presently has a consensus rating of “Hold” and a consensus target price of $38.14.

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.