Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) announced a monthly dividend on Thursday, December 8th, Wall Street Journal reports. Stockholders of record on Tuesday, January 17th will be paid a dividend of 0.0933 per share on Wednesday, February 1st. This represents a $1.12 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Friday, January 13th.
Phillips Edison & Company, Inc. Stock Performance
PECO stock opened at $32.89 on Thursday. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 131.56, a PEG ratio of 2.10 and a beta of 0.59. Phillips Edison & Company, Inc. has a fifty-two week low of $27.07 and a fifty-two week high of $36.35. The stock has a fifty day moving average of $31.69 and a 200-day moving average of $31.90.
Get Phillips Edison & Company Inc. alerts:Insider Activity at Phillips Edison & Company, Inc.
In related news, Director Paul Massey sold 9,600 shares of the firm's stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $31.42, for a total transaction of $301,632.00. Following the transaction, the director now directly owns 10,439 shares of the company's stock, valued at approximately $327,993.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 7.90% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Phillips Edison & Company, Inc.
A number of large investors have recently bought and sold shares of PECO. Clearstead Advisors LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter worth approximately $25,000. Parkside Financial Bank & Trust bought a new stake in shares of Phillips Edison & Company, Inc. in the 1st quarter worth approximately $48,000. PNC Financial Services Group Inc. bought a new stake in shares of Phillips Edison & Company, Inc. in the 1st quarter worth approximately $99,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 1st quarter worth approximately $122,000. Finally, Captrust Financial Advisors bought a new stake in shares of Phillips Edison & Company, Inc. in the 2nd quarter worth approximately $181,000. 70.90% of the stock is owned by hedge funds and other institutional investors.Wall Street Analysts Forecast Growth
PECO has been the subject of several analyst reports. Mizuho cut their target price on Phillips Edison & Company, Inc. from $35.00 to $31.00 and set a "neutral" rating for the company in a research note on Friday, November 11th. Credit Suisse Group raised Phillips Edison & Company, Inc. from a "neutral" rating to an "outperform" rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $33.20.
About Phillips Edison & Company, Inc.
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Phillips Edison & Company, Inc (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States.
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