Cadence Bank Sells 1,906 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Cadence Bank cut its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 14.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,489 shares of the company’s stock after selling 1,906 shares during the quarter. Cadence Bank’s holdings in Phillips Edison & Company, Inc. were worth $412,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Phillips Edison & Company, Inc. by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock valued at $693,619,000 after purchasing an additional 577,445 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Phillips Edison & Company, Inc. by 8.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,872,476 shares of the company’s stock valued at $68,308,000 after purchasing an additional 145,078 shares during the last quarter. Norges Bank purchased a new stake in shares of Phillips Edison & Company, Inc. during the 4th quarter valued at $48,562,000. Dimensional Fund Advisors LP increased its position in shares of Phillips Edison & Company, Inc. by 33.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 918,665 shares of the company’s stock valued at $33,513,000 after purchasing an additional 232,191 shares during the last quarter. Finally, GRS Advisors LLC purchased a new stake in Phillips Edison & Company, Inc. in the 4th quarter worth about $26,042,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Price Performance

PECO stock traded up $0.17 during mid-day trading on Friday, reaching $34.02. 831,121 shares of the company traded hands, compared to its average volume of 658,050. The company has a market capitalization of $4.16 billion, a P/E ratio of 73.96, a P/E/G ratio of 3.45 and a beta of 0.56. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $37.92. The company has a fifty day moving average price of $32.59 and a 200-day moving average price of $33.84.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be issued a dividend of $0.0975 per share. This represents a $1.17 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Monday, July 15th. Phillips Edison & Company, Inc.’s payout ratio is presently 254.35%.

Analyst Upgrades and Downgrades

PECO has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating for the company in a report on Tuesday, May 28th. Mizuho decreased their price objective on Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Compass Point decreased their price objective on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. has an average rating of “Hold” and an average price target of $37.43.

About Phillips Edison & Company, Inc.

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.