First Trust Advisors LP lowered its stake in shares of Pennsylvania R.E.I.T. (NYSE:PEI) by 92.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,433 shares of the real estate investment trust’s stock after selling 119,936 shares during the quarter. First Trust Advisors LP’s holdings in Pennsylvania R.E.I.T. were worth $115,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of PEI. Stifel Financial Corp acquired a new position in shares of Pennsylvania R.E.I.T. during the first quarter valued at about $100,000. Amalgamated Bank acquired a new position in shares of Pennsylvania R.E.I.T. during the second quarter valued at about $117,000. Fox Run Management L.L.C. acquired a new position in shares of Pennsylvania R.E.I.T. during the second quarter valued at about $124,000. Shufro Rose & Co. LLC acquired a new position in shares of Pennsylvania R.E.I.T. during the second quarter valued at about $125,000. Finally, Element Capital Management LLC acquired a new position in shares of Pennsylvania R.E.I.T. during the first quarter valued at about $140,000. Hedge funds and other institutional investors own 91.34% of the company’s stock.
Several equities analysts have recently issued reports on PEI shares. ValuEngine upgraded shares of Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. Zacks Investment Research downgraded shares of Pennsylvania R.E.I.T. from a “hold” rating to a “sell” rating in a report on Tuesday, July 17th. Finally, Citigroup upped their price objective on shares of Pennsylvania R.E.I.T. from $10.50 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, June 19th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.83.
Shares of NYSE PEI opened at $9.44 on Thursday. The company has a market capitalization of $664.37 million, a P/E ratio of 5.65 and a beta of 1.10. Pennsylvania R.E.I.T. has a 52 week low of $8.86 and a 52 week high of $12.52. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.05 and a current ratio of 1.05.
Pennsylvania R.E.I.T. (NYSE:PEI) last issued its earnings results on Thursday, August 2nd. The real estate investment trust reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.40). The firm had revenue of $81.76 million during the quarter, compared to analysts’ expectations of $88.32 million. Pennsylvania R.E.I.T. had a negative net margin of 3.69% and a negative return on equity of 2.21%. sell-side analysts predict that Pennsylvania R.E.I.T. will post 1.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Tuesday, September 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 31st. This represents a $0.84 dividend on an annualized basis and a yield of 8.90%. Pennsylvania R.E.I.T.’s dividend payout ratio is currently 50.30%.
About Pennsylvania R.E.I.T.
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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