LGL Partners LLC Holds Stake in Pennsylvania Real Estate Investment Trust (PEI)

LGL Partners LLC maintained its position in shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,626 shares of the real estate investment trust’s stock at the end of the first quarter. LGL Partners LLC’s holdings in Pennsylvania Real Estate Investment Trust were worth $297,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PEI. Envestnet Asset Management Inc. raised its stake in shares of Pennsylvania Real Estate Investment Trust by 10.2% in the first quarter. Envestnet Asset Management Inc. now owns 43,026 shares of the real estate investment trust’s stock worth $651,000 after buying an additional 3,965 shares during the period. Mason Street Advisors LLC raised its stake in shares of Pennsylvania Real Estate Investment Trust by 6.9% in the first quarter. Mason Street Advisors LLC now owns 16,247 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 1,052 shares during the period. Guyasuta Investment Advisors Inc. raised its stake in shares of Pennsylvania Real Estate Investment Trust by 72.4% in the first quarter. Guyasuta Investment Advisors Inc. now owns 30,950 shares of the real estate investment trust’s stock worth $469,000 after buying an additional 13,000 shares during the period. Stevens Capital Management LP raised its stake in shares of Pennsylvania Real Estate Investment Trust by 21.7% in the first quarter. Stevens Capital Management LP now owns 66,592 shares of the real estate investment trust’s stock worth $1,008,000 after buying an additional 11,892 shares during the period. Finally, Mutual of America Capital Management LLC raised its stake in shares of Pennsylvania Real Estate Investment Trust by 0.7% in the first quarter. Mutual of America Capital Management LLC now owns 209,348 shares of the real estate investment trust’s stock worth $3,170,000 after buying an additional 1,503 shares during the period. 96.99% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Pennsylvania Real Estate Investment Trust (PEI) opened at 11.26 on Friday. Pennsylvania Real Estate Investment Trust has a 1-year low of $10.00 and a 1-year high of $25.67. The firm’s 50-day moving average price is $11.60 and its 200 day moving average price is $15.64. The stock’s market cap is $785.28 million.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last released its quarterly earnings data on Tuesday, April 25th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by $0.02. The business had revenue of $89.26 million for the quarter, compared to analyst estimates of $97.98 million. Pennsylvania Real Estate Investment Trust had a negative return on equity of 1.78% and a negative net margin of 3.49%. Pennsylvania Real Estate Investment Trust’s revenue was down 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 EPS. On average, equities analysts expect that Pennsylvania Real Estate Investment Trust will post ($0.04) earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.84 annualized dividend and a yield of 7.46%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio (DPR) is -182.61%.

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A number of equities research analysts have weighed in on PEI shares. J P Morgan Chase & Co decreased their target price on Pennsylvania Real Estate Investment Trust from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, March 22nd. TheStreet lowered Pennsylvania Real Estate Investment Trust from a “c-” rating to a “d+” rating in a research report on Friday, March 24th. Barclays PLC reissued an “underweight” rating and issued a $14.00 price target (down from $15.00) on shares of Pennsylvania Real Estate Investment Trust in a research report on Wednesday, April 19th. Zacks Investment Research raised Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Finally, Boenning Scattergood lowered Pennsylvania Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a research report on Monday, May 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 presently has an average rating of “Hold” and a consensus target price of $18.80.

In other Pennsylvania Real Estate Investment Trust news, Director John Joseph Roberts acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were purchased at an average price of $10.76 per share, for a total transaction of $107,600.00. Following the completion of the purchase, the director now directly owns 33,060 shares in the company, valued at $355,725.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director George J. Alburger, Jr. acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were acquired at an average price of $11.78 per share, for a total transaction of $58,900.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at $58,900. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 25,000 shares of company stock worth $282,200. 4.40% of the stock is owned by company insiders.

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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