Cbre Clarion Securities LLC lessened its holdings in Pennsylvania R.E.I.T. (NYSE:PEI) by 2.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 784,030 shares of the real estate investment trust’s stock after selling 23,418 shares during the period. Cbre Clarion Securities LLC owned 1.12% of Pennsylvania R.E.I.T. worth $9,322,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Capital Analysts LLC raised its position in shares of Pennsylvania R.E.I.T. by 928.1% in the fourth quarter. Capital Analysts LLC now owns 25,323 shares of the real estate investment trust’s stock worth $3,869,000 after buying an additional 22,860 shares in the last quarter. OppenheimerFunds Inc. purchased a new stake in Pennsylvania R.E.I.T. during the fourth quarter valued at about $266,000. UBS Asset Management Americas Inc. raised its position in Pennsylvania R.E.I.T. by 19.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 143,135 shares of the real estate investment trust’s stock valued at $1,702,000 after purchasing an additional 23,354 shares in the last quarter. Bank of New York Mellon Corp raised its position in Pennsylvania R.E.I.T. by 12.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,169,301 shares of the real estate investment trust’s stock valued at $13,902,000 after purchasing an additional 130,535 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Pennsylvania R.E.I.T. by 14.4% during the fourth quarter. Rhumbline Advisers now owns 183,680 shares of the real estate investment trust’s stock valued at $2,184,000 after purchasing an additional 23,131 shares in the last quarter.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Pennsylvania R.E.I.T. from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Thursday, January 4th. ValuEngine downgraded Pennsylvania R.E.I.T. from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Goldman Sachs Group assumed coverage on Pennsylvania R.E.I.T. in a research report on Friday, January 19th. They set a “sell” rating and a $10.00 price target on the stock. Boenning Scattergood restated a “hold” rating on shares of Pennsylvania R.E.I.T. in a research report on Friday, February 16th. Finally, Citigroup lowered their price target on Pennsylvania R.E.I.T. from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Pennsylvania R.E.I.T. presently has a consensus rating of “Hold” and an average price target of $12.21.
Pennsylvania R.E.I.T. (NYSE:PEI) last announced its quarterly earnings data on Wednesday, February 14th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.53). Pennsylvania R.E.I.T. had a negative net margin of 7.99% and a negative return on equity of 3.60%. The company had revenue of $97.97 million for the quarter, compared to the consensus estimate of $93.85 million. sell-side analysts anticipate that Pennsylvania R.E.I.T. will post 1.54 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 paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.27%. Pennsylvania R.E.I.T.’s dividend payout ratio (DPR) is currently -94.38%.
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About Pennsylvania R.E.I.T.
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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