Short Interest in Phillips Edison & Company, Inc. (NASDAQ:PECO) Drops By 16.4%

Phillips Edison & Company, Inc. (NASDAQ:PECO) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 3,170,000 shares, a drop of 16.4% from the February 13th total of 3,790,000 shares. Based on an average daily volume of 642,100 shares, the short-interest ratio is currently 4.9 days. Approximately 2.6% of the company’s shares are short sold.

Phillips Edison & Company, Inc. Trading Up 0.4 %

NASDAQ PECO traded up $0.15 during trading hours on Thursday, reaching $35.29. The company had a trading volume of 78,643 shares, compared to its average volume of 604,373. The stock has a 50-day moving average of $36.13 and a 200 day moving average of $37.34. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12. The stock has a market capitalization of $4.42 billion, a P/E ratio of 70.54, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, sell-side analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Tuesday, April 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 246.00%.

Hedge Funds Weigh In On Phillips Edison & Company, Inc.

A number of large investors have recently bought and sold shares of PECO. KBC Group NV raised its position in Phillips Edison & Company, Inc. by 21.9% in the third quarter. KBC Group NV now owns 3,902 shares of the company’s stock worth $147,000 after acquiring an additional 700 shares in the last quarter. Metis Global Partners LLC increased its stake in Phillips Edison & Company, Inc. by 29.8% in the 3rd quarter. Metis Global Partners LLC now owns 12,613 shares of the company’s stock valued at $476,000 after purchasing an additional 2,893 shares in the last quarter. Natixis Advisors LLC increased its position in shares of Phillips Edison & Company, Inc. by 132.6% in the third quarter. Natixis Advisors LLC now owns 43,782 shares of the company’s stock valued at $1,651,000 after buying an additional 24,963 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Phillips Edison & Company, Inc. in the third quarter valued at $468,000. Finally, Intech Investment Management LLC purchased a new position in shares of Phillips Edison & Company, Inc. during the 3rd quarter worth approximately $877,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company decreased their price target on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price objective on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, Mizuho dropped their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Phillips Edison & Company, Inc. currently has an average rating of “Moderate Buy” and an average target price of $39.00.

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.