Harbor Capital Advisors Inc. Sells 5,815 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Harbor Capital Advisors Inc. cut its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,871 shares of the company’s stock after selling 5,815 shares during the period. Harbor Capital Advisors Inc.’s holdings in Phillips Edison & Company, Inc. were worth $2,710,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new position in Phillips Edison & Company, Inc. in the second quarter worth approximately $26,000. V Square Quantitative Management LLC bought a new stake in shares of Phillips Edison & Company, Inc. during the 3rd quarter valued at $28,000. Hobbs Group Advisors LLC bought a new stake in shares of Phillips Edison & Company, Inc. during the 2nd quarter valued at $39,000. PFG Private Wealth Management LLC bought a new stake in shares of Phillips Edison & Company, Inc. during the 2nd quarter valued at $62,000. Finally, Blue Trust Inc. raised its position in shares of 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 purchasing an additional 1,290 shares during the period. 80.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PECO has been the topic of several recent analyst reports. Mizuho raised their price objective on shares of 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. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Finally, Compass Point raised their price objective on shares of 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. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Phillips Edison & Company, Inc. has a consensus rating of “Hold” and a consensus target price of $37.50.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ PECO opened at $38.08 on Tuesday. The company has a market cap of $4.67 billion, a P/E ratio of 82.78, a P/E/G ratio of 3.47 and a beta of 0.57. The firm’s fifty day moving average is $37.30 and its two-hundred day moving average is $34.67. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 9.03% and a return on equity of 2.22%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share. As a group, 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 disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $0.1025 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.23%. Phillips Edison & Company, Inc.’s payout ratio is currently 267.39%.

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.