Pennsylvania R.E.I.T. (NYSE:PEI) Trading 5.6% Higher

Pennsylvania R.E.I.T. (NYSE:PEI)’s stock price traded up 5.6% during trading on Thursday . The company traded as high as $6.24 and last traded at $6.19. 1,241,771 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 1,478,806 shares. The stock had previously closed at $5.86.

A number of equities research analysts have recently commented on the stock. ValuEngine raised shares of Pennsylvania R.E.I.T. from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 4th. Zacks Investment Research raised shares of Pennsylvania R.E.I.T. from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 9th. Boenning Scattergood raised shares of Pennsylvania R.E.I.T. from a “neutral” rating to an “outperform” rating in a research note on Monday, May 6th. Finally, Barclays reaffirmed a “sell” rating and issued a $5.00 price objective on shares of Pennsylvania R.E.I.T. in a research note on Tuesday, April 16th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.67.

The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 3.38. The firm’s 50-day simple moving average is $6.71. The company has a market cap of $502.97 million, a P/E ratio of 4.22 and a beta of 1.23.

Pennsylvania R.E.I.T. (NYSE:PEI) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.55). Pennsylvania R.E.I.T. had a negative net margin of 34.03% and a negative return on equity of 20.43%. The company had revenue of $84.68 million for the quarter, compared to analyst estimates of $86.85 million. As a group, research analysts predict that Pennsylvania R.E.I.T. will post 1.25 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $0.21 per share. The ex-dividend date was Friday, May 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 12.92%. Pennsylvania R.E.I.T.’s payout ratio is presently 54.55%.

Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its position in shares of Pennsylvania R.E.I.T. by 41.4% during the 4th quarter. Bank of Montreal Can now owns 6,583 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 1,928 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Pennsylvania R.E.I.T. by 32.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,767 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 1,896 shares during the period. Amalgamated Bank acquired a new position in shares of Pennsylvania R.E.I.T. during the 4th quarter valued at $63,000. Magnus Financial Group LLC acquired a new position in Pennsylvania R.E.I.T. during the first quarter worth $96,000. Finally, BNP Paribas Arbitrage SA raised its holdings in Pennsylvania R.E.I.T. by 41.7% during the first quarter. BNP Paribas Arbitrage SA now owns 16,163 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 4,755 shares during the last quarter. Institutional investors own 66.69% of the company’s stock.

About Pennsylvania R.E.I.T. (NYSE:PEI)

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. PREIT'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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