MetLife Investment Advisors LLC lessened its holdings in shares of Pennsylvania R.E.I.T. (NYSE:PEI) by 39.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,570 shares of the real estate investment trust’s stock after selling 20,996 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Pennsylvania R.E.I.T. were worth $193,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in Pennsylvania R.E.I.T. by 0.4% during the 4th quarter. Principal Financial Group Inc. now owns 530,776 shares of the real estate investment trust’s stock worth $3,152,000 after buying an additional 2,081 shares during the period. Virginia Retirement Systems ET AL acquired a new stake in Pennsylvania R.E.I.T. during the 4th quarter worth $324,000. Mackenzie Financial Corp acquired a new stake in Pennsylvania R.E.I.T. during the 3rd quarter worth $6,344,000. PNC Financial Services Group Inc. raised its stake in 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 worth $47,000 after buying an additional 1,896 shares during the period. Finally, Zweig DiMenna Associates LLC acquired a new stake in Pennsylvania R.E.I.T. during the 4th quarter worth $139,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.
PEI has been the topic of several research analyst reports. Citigroup set a $7.00 price objective on Pennsylvania R.E.I.T. and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Boenning Scattergood reiterated a “hold” rating on shares of Pennsylvania R.E.I.T. in a report on Friday, February 15th. Barclays reiterated a “sell” rating and set a $5.00 target price on shares of Pennsylvania R.E.I.T. in a report on Tuesday, April 16th. Finally, Zacks Investment Research cut Pennsylvania R.E.I.T. from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock presently has an average rating of “Sell” and a consensus target price of $7.63.
Pennsylvania R.E.I.T. (NYSE:PEI) last released its earnings results on Wednesday, February 13th. The real estate investment trust reported ($1.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($1.77). The firm had revenue of $95.33 million for the quarter, compared to the consensus estimate of $96.88 million. Pennsylvania R.E.I.T. had a negative return on equity of 16.89% and a negative net margin of 30.84%. As a group, sell-side analysts forecast that Pennsylvania R.E.I.T. will post 1.25 earnings per share for the current year.
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About Pennsylvania R.E.I.T.
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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