Pennsylvania R.E.I.T. (PEI) Lowered to “Hold” at ValuEngine

Pennsylvania R.E.I.T. (PEI) Lowered to “Hold” at ValuEngine

ValuEngine cut shares of Pennsylvania R.E.I.T. (NYSE:PEI) from a buy rating to a hold rating in a research note issued to investors on Friday.

Other equities analysts have also recently issued reports about the company. TheStreet cut Pennsylvania R.E.I.T. from a c- rating to a d+ rating in a report on Friday, March 24th. Zacks Investment Research raised Pennsylvania R.E.I.T. from a sell rating to a hold rating in a report on Tuesday, May 2nd. Boenning Scattergood cut Pennsylvania R.E.I.T. from an outperform rating to a neutral rating in a report on Monday, May 15th. JPMorgan Chase & Co. cut their price target on Pennsylvania R.E.I.T. from $20.00 to $18.00 and set a neutral rating for the company in a report on Wednesday, March 22nd. Finally, Barclays PLC reissued a sell rating on shares of Pennsylvania R.E.I.T. in a report on Wednesday, February 15th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $18.80.

Shares of Pennsylvania R.E.I.T. (PEI) traded up 1.46% during mid-day trading on Friday, reaching $11.13. The company’s stock had a trading volume of 827,803 shares. The firm’s market capitalization is $776.22 million. The company’s 50-day moving average is $12.53 and its 200 day moving average is $16.20. Pennsylvania R.E.I.T. has a 1-year low of $10.00 and a 1-year high of $25.67.

Pennsylvania R.E.I.T. (NYSE:PEI) last released its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.02. Pennsylvania R.E.I.T. had a negative return on equity of 3.62% and a negative net margin of 6.65%. The company had revenue of $89.26 million during the quarter, compared to analyst estimates of $97.98 million. During the same period last year, the firm earned $0.43 earnings per share. The business’s revenue was down 12.5% compared to the same quarter last year. On average, analysts expect that Pennsylvania R.E.I.T. will post ($0.04) earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.66%. The ex-dividend date is Wednesday, August 30th. Pennsylvania R.E.I.T.’s dividend payout ratio is currently -133.33%.

In other Pennsylvania R.E.I.T. news, Director John Joseph Roberts acquired 10,000 shares of the stock in a transaction dated Tuesday, May 30th. The stock was acquired at an average price of $10.76 per share, with a total value of $107,600.00. Following the completion of the transaction, the director now directly owns 33,060 shares in the company, valued at $355,725.60. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.40% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in PEI. Thrivent Financial for Lutherans increased its stake in shares of Pennsylvania R.E.I.T. by 3.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 57,086 shares of the real estate investment trust’s stock worth $1,082,000 after buying an additional 1,850 shares in the last quarter. AMP Capital Investors Ltd increased its stake in shares of Pennsylvania R.E.I.T. by 13.9% in the third quarter. AMP Capital Investors Ltd now owns 79,642 shares of the real estate investment trust’s stock worth $1,818,000 after buying an additional 9,700 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Pennsylvania R.E.I.T. during the fourth quarter worth approximately $1,613,000. KRV Capital LP increased its stake in shares of Pennsylvania R.E.I.T. by 22.3% in the third quarter. KRV Capital LP now owns 823,279 shares of the real estate investment trust’s stock worth $18,960,000 after buying an additional 150,018 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Pennsylvania R.E.I.T. during the fourth quarter worth approximately $13,393,000. 93.69% of the stock is owned by institutional investors and hedge funds.

About Pennsylvania R.E.I.T.

Pennsylvania Real Estate Investment Trust (PREIT) is a self-managed and self-administered real estate investment trust (REIT). The Company’s primary business is owning and operating retail shopping malls, which it does primarily through operating partnership, PREIT Associates, L.P. (PREIT Associates).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PEI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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