Crossmark Global Holdings Inc. Invests $146,000 in Pennsylvania Real Estate Investment Trust (PEI)

Crossmark Global Holdings Inc. acquired a new stake in Pennsylvania Real Estate Investment Trust (NYSE:PEI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,875 shares of the real estate investment trust’s stock, valued at approximately $146,000.

Several other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System lifted its holdings in shares of Pennsylvania Real Estate Investment Trust by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 28,400 shares of the real estate investment trust’s stock valued at $321,000 after buying an additional 100 shares during the period. Arizona State Retirement System lifted its holdings in shares of Pennsylvania Real Estate Investment Trust by 0.6% during the second quarter. Arizona State Retirement System now owns 36,413 shares of the real estate investment trust’s stock valued at $412,000 after purchasing an additional 200 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Pennsylvania Real Estate Investment Trust by 3.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 16,400 shares of the real estate investment trust’s stock valued at $186,000 after purchasing an additional 550 shares during the last quarter. Texas Permanent School Fund lifted its holdings in shares of Pennsylvania Real Estate Investment Trust by 1.2% during the second quarter. Texas Permanent School Fund now owns 50,918 shares of the real estate investment trust’s stock valued at $576,000 after purchasing an additional 613 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Pennsylvania Real Estate Investment Trust by 0.9% during the second quarter. Public Employees Retirement System of Ohio now owns 83,543 shares of the real estate investment trust’s stock valued at $946,000 after purchasing an additional 754 shares during the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

PEI has been the subject of several analyst reports. Boenning Scattergood reaffirmed a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, November 3rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $11.00 target price on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 12th. Barclays reaffirmed a “sell” rating and set a $10.00 target price on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 19th. ValuEngine downgraded Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Mitsubishi UFJ Financial Group downgraded Pennsylvania Real Estate Investment Trust from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $16.00 to $12.00 in a report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Pennsylvania Real Estate Investment Trust has a consensus rating of “Hold” and an average target price of $13.83.

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) traded down $0.21 during trading on Wednesday, reaching $10.69. The company had a trading volume of 1,462,700 shares, compared to its average volume of 1,464,981. The stock has a market cap of $762.01, a P/E ratio of 6.30 and a beta of 1.35. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.91 and a current ratio of 1.91. Pennsylvania Real Estate Investment Trust has a 1 year low of $9.32 and a 1 year high of $20.21.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last announced its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. The firm had revenue of $89.20 million during the quarter, compared to the consensus estimate of $98.85 million. Pennsylvania Real Estate Investment Trust had a negative return on equity of 7.60% and a negative net margin of 16.35%. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 EPS. research analysts forecast that Pennsylvania Real Estate Investment Trust will post 1.65 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 7.86%. The ex-dividend date of this dividend is Thursday, November 30th. Pennsylvania Real Estate Investment Trust’s dividend payout ratio is currently -67.74%.

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About Pennsylvania Real Estate Investment Trust

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).

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Institutional Ownership by Quarter for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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