Pennsylvania R.E.I.T. (PEI) Shares Gap Down to $5.62

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Pennsylvania R.E.I.T. (NYSE:PEI) shares gapped down before the market opened on Thursday . The stock had previously closed at $5.62, but opened at $5.62. Pennsylvania R.E.I.T. shares last traded at $5.66, with a volume of 2223326 shares traded.

A number of research analysts have commented on PEI shares. JPMorgan Chase & Co. cut Pennsylvania R.E.I.T. from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $10.00 to $8.00 in a research note on Wednesday, December 19th. Barclays restated a “sell” rating and set a $6.00 price target on shares of Pennsylvania R.E.I.T. in a research note on Wednesday, January 16th. Boenning Scattergood started coverage on Pennsylvania R.E.I.T. in a research note on Thursday, December 20th. They set a “neutral” rating on the stock. Zacks Investment Research cut Pennsylvania R.E.I.T. from a “hold” rating to a “sell” rating in a research note on Tuesday, January 22nd. Finally, Citigroup set a $7.00 price target on Pennsylvania R.E.I.T. and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $8.30.

The company has a market cap of $470.00 million, a PE ratio of 3.68 and a beta of 1.56. The company has a debt-to-equity ratio of 3.04, a current ratio of 0.65 and a quick ratio of 0.74.

Pennsylvania R.E.I.T. (NYSE:PEI) last announced its quarterly earnings data on Wednesday, February 13th. The real estate investment trust reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($1.77). The company had revenue of $95.33 million during the quarter, compared to analyst estimates of $96.88 million. Pennsylvania R.E.I.T. had a negative net margin of 30.84% and a negative return on equity of 16.89%. Research analysts expect that Pennsylvania R.E.I.T. will post 1.24 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 14.84%. The ex-dividend date is Thursday, February 28th. Pennsylvania R.E.I.T.’s payout ratio is currently 54.55%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can raised its stake in shares of Pennsylvania R.E.I.T. by 41.4% in the fourth 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 in the last quarter. PNC Financial Services Group Inc. increased its holdings in Pennsylvania R.E.I.T. by 32.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,767 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 1,896 shares during the last quarter. Amalgamated Bank purchased a new position in Pennsylvania R.E.I.T. in the fourth quarter valued at $63,000. Meeder Asset Management Inc. increased its holdings in Pennsylvania R.E.I.T. by 71.1% in the fourth quarter. Meeder Asset Management Inc. now owns 12,671 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 5,266 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in Pennsylvania R.E.I.T. by 60.9% in the fourth quarter. Hsbc Holdings PLC now owns 18,949 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 7,171 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.

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Pennsylvania R.E.I.T. Company Profile (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.

See Also: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

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