Wells Fargo & Company MN Trims Position in Pennsylvania R.E.I.T. (PEI)

Wells Fargo & Company MN lowered its stake in shares of Pennsylvania R.E.I.T. (NYSE:PEI) by 15.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 317,910 shares of the real estate investment trust’s stock after selling 57,620 shares during the quarter. Wells Fargo & Company MN owned approximately 0.45% of Pennsylvania R.E.I.T. worth $3,779,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PEI. Victory Capital Management Inc. grew its position in Pennsylvania R.E.I.T. by 24.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,779,525 shares of the real estate investment trust’s stock valued at $21,159,000 after buying an additional 350,456 shares during the period. Highbridge Capital Management LLC grew its position in Pennsylvania R.E.I.T. by 346.6% during the third quarter. Highbridge Capital Management LLC now owns 401,958 shares of the real estate investment trust’s stock valued at $4,217,000 after buying an additional 311,958 shares during the period. Schwab Charles Investment Management Inc. grew its position in Pennsylvania R.E.I.T. by 24.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 943,635 shares of the real estate investment trust’s stock valued at $9,899,000 after buying an additional 183,024 shares during the period. First Trust Advisors LP grew its position in Pennsylvania R.E.I.T. by 395.0% during the fourth quarter. First Trust Advisors LP now owns 103,437 shares of the real estate investment trust’s stock valued at $1,230,000 after buying an additional 82,540 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Pennsylvania R.E.I.T. by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 990,903 shares of the real estate investment trust’s stock valued at $10,424,000 after buying an additional 70,782 shares during the period.

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Shares of NYSE:PEI opened at $9.91 on Friday. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $679.09, a price-to-earnings ratio of 5.93 and a beta of 1.21. Pennsylvania R.E.I.T. has a twelve month low of $9.20 and a twelve month high of $15.34.

Pennsylvania R.E.I.T. (NYSE:PEI) last issued its earnings results on Wednesday, February 14th. The real estate investment trust reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.53). The business had revenue of $97.97 million for the quarter, compared to the consensus estimate of $93.85 million. Pennsylvania R.E.I.T. had a negative return on equity of 3.60% and a negative net margin of 7.99%. analysts predict that Pennsylvania R.E.I.T. will post 1.54 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were given a $0.21 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.48%. Pennsylvania R.E.I.T.’s dividend payout ratio (DPR) is currently 50.30%.

A number of equities analysts have weighed in on PEI shares. Goldman Sachs started coverage on shares of Pennsylvania R.E.I.T. in a research report on Friday, January 19th. They set a “sell” rating and a $10.00 target price for the company. Citigroup cut their target price on shares of Pennsylvania R.E.I.T. from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. ValuEngine lowered shares of Pennsylvania R.E.I.T. from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. SunTrust Banks reiterated a “hold” rating and set a $10.00 target price on shares of Pennsylvania R.E.I.T. in a research report on Tuesday. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $11.50 target price (down previously from $12.00) on shares of Pennsylvania R.E.I.T. in a research report on Thursday, February 15th. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $11.07.

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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).

Institutional Ownership by Quarter for Pennsylvania R.E.I.T. (NYSE:PEI)

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