Wellington Management Group LLP Sells 299,097 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Wellington Management Group LLP reduced its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 3.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 7,375,954 shares of the company’s stock after selling 299,097 shares during the period. Wellington Management Group LLP owned 6.02% of Phillips Edison & Company, Inc. worth $278,147,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new stake in Phillips Edison & Company, Inc. in the 2nd quarter valued at about $26,000. V Square Quantitative Management LLC bought a new stake in Phillips Edison & Company, Inc. in the 3rd quarter valued at about $28,000. Hobbs Group Advisors LLC bought a new stake in Phillips Edison & Company, Inc. in the 2nd quarter valued at about $39,000. Blue Trust Inc. grew its holdings in Phillips Edison & Company, Inc. by 160.2% during the 2nd quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock valued at $75,000 after buying an additional 1,290 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Phillips Edison & Company, Inc. during the 2nd quarter valued at about $107,000. 80.70% of the stock is currently owned by institutional investors.

Phillips Edison & Company, Inc. Trading Down 0.2 %

PECO stock opened at $39.27 on Friday. The company’s 50 day moving average is $38.02 and its 200 day moving average is $35.73. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 85.37, a price-to-earnings-growth ratio of 3.60 and a beta of 0.57. 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 quarterly earnings data on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.52). The company had revenue of $165.50 million during the quarter, compared to the consensus estimate of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $0.58 earnings per share. As a group, sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Tuesday, February 18th. Phillips Edison & Company, Inc.’s payout ratio is currently 267.39%.

Wall Street Analyst Weigh In

PECO has been the topic of several analyst reports. Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Wednesday, November 13th. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Compass Point upped their price target on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Finally, Mizuho upped their price target on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.43.

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.