Phillips Edison & Company, Inc. (NASDAQ:PECO) Director Paul Massey Sells 9,600 Shares of Stock

Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) Director Paul Massey sold 9,600 shares of the stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $31.42, for a total value 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 filing with the Securities & Exchange Commission, which is available through this hyperlink.

Phillips Edison & Company, Inc. Trading Up 0.4 %

PECO traded up $0.14 during trading hours on Thursday, hitting $32.10. 465,353 shares of the company’s stock were exchanged, compared to its average volume of 576,786. Phillips Edison & Company, Inc. has a 12-month low of $27.07 and a 12-month high of $36.35. The firm has a market cap of $3.76 billion, a P/E ratio of 128.40, a price-to-earnings-growth ratio of 2.15 and a beta of 0.58. The firm has a 50 day moving average of $29.78 and a 200 day moving average of $32.23.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a $0.0933 dividend. The ex-dividend date is Monday, November 14th. This represents a $1.12 dividend on an annualized basis and a yield of 3.49%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 448.00%.

Analyst Ratings Changes

PECO has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of Phillips Edison & Company, Inc. from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, August 29th. Credit Suisse Group reduced their price objective on shares of Phillips Edison & Company, Inc. to $32.00 in a report on Friday, November 4th. Finally, Mizuho lowered their target price on shares of 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. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. has an average rating of “Hold” and a consensus target price of $33.20.

Institutional Investors Weigh In On Phillips Edison & Company, Inc.

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Phillips Edison & Company, Inc. by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 16,901,198 shares of the company’s stock valued at $474,079,000 after buying an additional 125,181 shares during the period. BlackRock Inc. grew its holdings in Phillips Edison & Company, Inc. by 6.8% during the 3rd quarter. BlackRock Inc. now owns 10,087,505 shares of the company’s stock worth $282,955,000 after acquiring an additional 641,834 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Phillips Edison & Company, Inc. by 313.4% in the 1st quarter. Wellington Management Group LLP now owns 7,725,477 shares of the company’s stock valued at $265,679,000 after purchasing an additional 5,856,834 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Phillips Edison & Company, Inc. by 5.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,888,586 shares of the company’s stock valued at $165,175,000 after purchasing an additional 296,336 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Phillips Edison & Company, Inc. by 13.3% during the 2nd quarter. FMR LLC now owns 5,874,143 shares of the company’s stock worth $196,255,000 after purchasing an additional 691,059 shares during the last quarter. Hedge funds and other institutional investors own 72.52% of the company’s stock.

About Phillips Edison & Company, Inc.

(Get Rating)

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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