GSA Capital Partners LLP bought a new stake in Pennsylvania R.E.I.T. (NYSE:PEI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 34,314 shares of the real estate investment trust’s stock, valued at approximately $377,000.
A number of other institutional investors have also added to or reduced their stakes in PEI. Schwab Charles Investment Management Inc. grew its position in shares of Pennsylvania R.E.I.T. by 5.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,217,751 shares of the real estate investment trust’s stock valued at $13,384,000 after acquiring an additional 61,299 shares during the period. Principal Financial Group Inc. grew its position in shares of Pennsylvania R.E.I.T. by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 539,390 shares of the real estate investment trust’s stock valued at $5,205,000 after acquiring an additional 16,259 shares during the period. Keybank National Association OH bought a new position in shares of Pennsylvania R.E.I.T. in the 2nd quarter valued at about $231,000. Alps Advisors Inc. grew its position in shares of Pennsylvania R.E.I.T. by 14.5% in the 2nd quarter. Alps Advisors Inc. now owns 61,149 shares of the real estate investment trust’s stock valued at $672,000 after acquiring an additional 7,741 shares during the period. Finally, Shufro Rose & Co. LLC bought a new position in shares of Pennsylvania R.E.I.T. in the 2nd quarter valued at about $125,000. 91.34% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE PEI traded down $0.06 during mid-day trading on Friday, reaching $8.86. 931,218 shares of the company were exchanged, compared to its average volume of 1,111,759. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $666.48 million, a PE ratio of 5.31 and a beta of 1.12. Pennsylvania R.E.I.T. has a twelve month low of $8.82 and a twelve month high of $12.52.
Pennsylvania R.E.I.T. (NYSE:PEI) last posted its earnings results on Thursday, August 2nd. The real estate investment trust reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.40). Pennsylvania R.E.I.T. had a negative return on equity of 2.21% and a negative net margin of 3.69%. The company had revenue of $81.76 million for the quarter, compared to analyst estimates of $88.32 million. As a group, analysts predict that Pennsylvania R.E.I.T. will post 1.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Tuesday, September 4th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 9.48%. The ex-dividend date was Friday, August 31st. Pennsylvania R.E.I.T.’s dividend payout ratio (DPR) is 50.30%.
PEI has been the subject of a number of analyst reports. Citigroup decreased their price objective on shares of Pennsylvania R.E.I.T. from $12.00 to $11.50 and set a “neutral” rating for the company in a research report on Thursday, August 16th. ValuEngine raised shares of Pennsylvania R.E.I.T. from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 18th. Finally, Zacks Investment Research upgraded shares of Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Pennsylvania R.E.I.T. has a consensus rating of “Hold” and an average target price of $10.83.
Pennsylvania R.E.I.T. 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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