Alps Advisors Inc. Acquires Shares of 19,076 Pennsylvania Real Estate Investment Trust (PEI)

Alps Advisors Inc. acquired a new position in Pennsylvania Real Estate Investment Trust (NYSE:PEI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 19,076 shares of the real estate investment trust’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fox Run Management L.L.C. purchased a new position in shares of Pennsylvania Real Estate Investment Trust in the fourth quarter worth approximately $139,000. Crossmark Global Holdings Inc. purchased a new position in shares of Pennsylvania Real Estate Investment Trust in the third quarter worth approximately $146,000. Piedmont Investment Advisors LLC purchased a new position in shares of Pennsylvania Real Estate Investment Trust in the second quarter worth approximately $171,000. BlueCrest Capital Management Ltd boosted its holdings in shares of Pennsylvania Real Estate Investment Trust by 13.6% in the second quarter. BlueCrest Capital Management Ltd now owns 15,152 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 1,818 shares during the last quarter. Finally, Hartland & Co. LLC purchased a new position in shares of Pennsylvania Real Estate Investment Trust in the third quarter worth approximately $185,000.

A number of research firms recently issued reports on PEI. Zacks Investment Research raised shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Thursday, January 4th. ValuEngine downgraded shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Goldman Sachs Group began coverage on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, January 19th. They set a “sell” rating and a $10.00 price target on the stock. Citigroup lowered their price target on shares of Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating on the stock in a report on Friday, November 10th. Finally, Barclays reaffirmed a “sell” rating and set a $10.00 price target on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 19th. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $12.29.

Pennsylvania Real Estate Investment Trust (PEI) opened at $9.92 on Thursday. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.79. Pennsylvania Real Estate Investment Trust has a 1-year low of $9.30 and a 1-year high of $17.68. The firm has a market cap of $713.07, a P/E ratio of -8.00 and a beta of 1.24.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.47. Pennsylvania Real Estate Investment Trust had a negative net margin of 16.35% and a negative return on equity of 7.60%. The business had revenue of $99.77 million for the quarter, compared to the consensus estimate of $102.76 million. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. equities research analysts forecast that Pennsylvania Real Estate Investment Trust will post 1.65 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 8.47%. The ex-dividend date of this dividend is Wednesday, February 28th. Pennsylvania Real Estate Investment Trust’s payout ratio is currently -67.74%.

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Pennsylvania Real Estate Investment Trust Profile

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).

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

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