Pennsylvania Real Estate Investment Trust (PEI) Sees Unusually-High Trading Volume

Pennsylvania Real Estate Investment Trust (NYSE:PEI) saw unusually-high trading volume on Friday . Approximately 4,505,199 shares changed hands during mid-day trading, an increase of 206% from the previous session’s volume of 1,473,006 shares.The stock last traded at $11.27 and had previously closed at $11.09.

PEI has been the topic of several recent analyst reports. Boenning Scattergood reiterated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, November 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $11.00 price target on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 12th. Barclays reiterated a “sell” rating and issued a $10.00 price target 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, Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. 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. The stock has an average rating of “Hold” and a consensus target price of $13.83.

The company has a debt-to-equity ratio of 1.79, a current ratio of 1.91 and a quick ratio of 1.91. The stock has a market cap of $788.22, a price-to-earnings ratio of 6.52 and a beta of 1.35.

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. Pennsylvania Real Estate Investment Trust had a negative return on equity of 7.60% and a negative net margin of 16.35%. The company had revenue of $89.20 million for the quarter, compared to analysts’ expectations of $98.85 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Pennsylvania Real Estate Investment Trust’s revenue was down 9.8% compared to the same quarter last year. sell-side analysts expect that Pennsylvania Real Estate Investment Trust will post 1.65 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a $0.21 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.84 annualized dividend and a yield of 7.45%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio (DPR) is currently -67.74%.

Large investors have recently made changes to their positions in the stock. RMR Advisors LLC grew its stake in Pennsylvania Real Estate Investment Trust by 15.7% in the third quarter. RMR Advisors LLC now owns 147,628 shares of the real estate investment trust’s stock worth $1,549,000 after purchasing an additional 20,000 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Pennsylvania Real Estate Investment Trust by 16.6% in the second quarter. JPMorgan Chase & Co. now owns 920,121 shares of the real estate investment trust’s stock worth $10,416,000 after purchasing an additional 131,067 shares in the last quarter. Dupont Capital Management Corp grew its stake in Pennsylvania Real Estate Investment Trust by 77.4% in the second quarter. Dupont Capital Management Corp now owns 11,727 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 5,117 shares in the last quarter. Stevens Capital Management LP grew its stake in Pennsylvania Real Estate Investment Trust by 33.8% in the third quarter. Stevens Capital Management LP now owns 116,415 shares of the real estate investment trust’s stock worth $1,221,000 after purchasing an additional 29,396 shares in the last quarter. Finally, State Street Corp grew its stake in Pennsylvania Real Estate Investment Trust by 2.3% in the second quarter. State Street Corp now owns 2,683,266 shares of the real estate investment trust’s stock worth $30,370,000 after purchasing an additional 60,384 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors.

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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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