Great West Life Assurance Co. Can cut its holdings in shares of Pennsylvania R.E.I.T. (NYSE:PEI) by 21.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,860 shares of the real estate investment trust’s stock after selling 36,194 shares during the period. Great West Life Assurance Co. Can owned 0.18% of Pennsylvania R.E.I.T. worth $1,427,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in PEI. Stifel Financial Corp acquired a new stake in Pennsylvania R.E.I.T. during the 1st quarter worth approximately $100,000. Amalgamated Bank acquired a new stake in Pennsylvania R.E.I.T. during the 2nd quarter worth approximately $117,000. Fox Run Management L.L.C. acquired a new stake in Pennsylvania R.E.I.T. during the 2nd quarter worth approximately $124,000. Shufro Rose & Co. LLC bought a new position in shares of Pennsylvania R.E.I.T. during the 2nd quarter worth approximately $125,000. Finally, Element Capital Management LLC bought a new position in shares of Pennsylvania R.E.I.T. during the 1st quarter worth approximately $140,000. Institutional investors own 91.34% of the company’s stock.
Several equities analysts have recently weighed in on PEI shares. Citigroup raised their price target on shares of Pennsylvania R.E.I.T. from $10.50 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 19th. ValuEngine raised shares of Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a research note on Thursday, June 21st. Finally, Zacks Investment Research cut shares of Pennsylvania R.E.I.T. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Pennsylvania R.E.I.T. has an average rating of “Hold” and a consensus target price of $10.83.
Shares of NYSE:PEI traded down $0.06 during midday trading on Friday, hitting $8.86. The stock had a trading volume of 931,218 shares, compared to its average volume of 1,111,759. Pennsylvania R.E.I.T. has a 12 month low of $8.82 and a 12 month high of $12.52. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 2.32. The stock has a market capitalization of $666.48 million, a PE ratio of 5.31 and a beta of 1.12.
Pennsylvania R.E.I.T. (NYSE:PEI) last released its earnings results on Thursday, August 2nd. The real estate investment trust reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.40). Pennsylvania R.E.I.T. had a negative net margin of 3.69% and a negative return on equity of 2.21%. The firm had revenue of $81.76 million during the quarter, compared to the consensus estimate of $88.32 million. On average, equities analysts predict that Pennsylvania R.E.I.T. will post 1.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Tuesday, September 4th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 9.48%. The ex-dividend date of this dividend was Friday, August 31st. Pennsylvania R.E.I.T.’s dividend payout ratio is 50.30%.
Pennsylvania R.E.I.T. Company Profile
PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. REIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in the densely-populated eastern U.S.
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