5 Stocks US Senators Are Selling

In this article, we discuss 5 stocks that US senators are selling. If you want to see more stocks that were recently sold by US senators, click 10 Stocks US Senators Are Selling.

5. Phillips Edison & Company, Inc. (NASDAQ:PECO)

Number of Hedge Fund Holders: 7

Phillips Edison & Company, Inc. (NASDAQ:PECO) is an Ohio-based internally managed REIT that invests in grocery shopping centers. The company leases out properties across Salt Lake City, Utah, New York City, Atlanta, and Georgia. 

Patrick Toomey is a junior member of the United States senate from Pennsylvania. He disclosed a sale of Phillips Edison & Company, Inc. (NASDAQ:PECO) stock worth between $15,000 and $50,000. The transaction took place on January 20, and was reported 43 days later on March 5. 

On March 9, Morgan Stanley analyst Richard Hill downgraded Phillips Edison & Company, Inc. (NASDAQ:PECO) to Equal Weight from Overweight with an unchanged price target of $37. The analyst remains bullish on the company’s long-term outlook but will await a better entry point and more macro clarity in the short-term. 

Among the hedge funds tracked by Insider Monkey, 7 funds were bullish on Phillips Edison & Company, Inc. (NASDAQ:PECO) at the end of December 2021, compared to 15 funds in the previous quarter. Millennium Management held the largest stake in Phillips Edison & Company, Inc. (NASDAQ:PECO), with 1.25 million shares worth $41.6 million.