Van Cleef Asset Management Inc Takes Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Van Cleef Asset Management Inc bought a new stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,849 shares of the company’s stock, valued at approximately $688,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its position in shares of Phillips Edison & Company, Inc. by 1.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,207,617 shares of the company’s stock valued at $174,663,000 after acquiring an additional 99,383 shares during the last quarter. FMR LLC increased its position in Phillips Edison & Company, Inc. by 4.0% during the third quarter. FMR LLC now owns 4,874,206 shares of the company’s stock worth $163,481,000 after buying an additional 186,651 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Phillips Edison & Company, Inc. by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,398 shares of the company’s stock worth $57,937,000 after buying an additional 107,214 shares during the last quarter. Northern Trust Corp increased its position in Phillips Edison & Company, Inc. by 1.5% during the third quarter. Northern Trust Corp now owns 1,376,392 shares of the company’s stock worth $46,164,000 after buying an additional 20,461 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Phillips Edison & Company, Inc. by 2.4% during the third quarter. Rhumbline Advisers now owns 397,515 shares of the company’s stock worth $13,333,000 after buying an additional 9,457 shares during the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Mizuho raised Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and upped their target price for the company from $35.00 to $37.00 in a research report on Friday, February 23rd. JPMorgan Chase & Co. decreased their target price on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Phillips Edison & Company, Inc. in a research report on Tuesday, January 30th. They issued a “buy” rating and a $41.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued 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 an average price target of $38.14.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO stock traded down $0.30 during trading on Thursday, hitting $32.93. The company had a trading volume of 521,710 shares, compared to its average volume of 619,680. The stock’s 50-day moving average price is $34.63 and its 200 day moving average price is $35.04. Phillips Edison & Company, Inc. has a one year low of $27.85 and a one year high of $37.92. The firm has a market capitalization of $4.02 billion, a P/E ratio of 71.59, a price-to-earnings-growth ratio of 3.77 and a beta of 0.55.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a dividend of $0.0975 per share. The ex-dividend date of this dividend is Friday, April 12th. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.17 annualized dividend and a yield of 3.55%. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 254.35%.

Phillips Edison & Company, Inc. Profile

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.