Thrivent Financial for Lutherans lowered its position in shares of Pennsylvania R.E.I.T. (NYSE:PEI) by 45.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,230 shares of the real estate investment trust’s stock after selling 38,326 shares during the period. Thrivent Financial for Lutherans owned 0.06% of Pennsylvania R.E.I.T. worth $269,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Mackenzie Financial Corp bought a new stake in Pennsylvania R.E.I.T. during the 3rd quarter valued at $6,344,000. Prudential Financial Inc. raised its holdings in Pennsylvania R.E.I.T. by 128.1% in the 4th quarter. Prudential Financial Inc. now owns 450,005 shares of the real estate investment trust’s stock worth $2,673,000 after purchasing an additional 252,739 shares in the last quarter. BlackRock Inc. raised its holdings in Pennsylvania R.E.I.T. by 2.0% in the 4th quarter. BlackRock Inc. now owns 11,428,311 shares of the real estate investment trust’s stock worth $67,883,000 after purchasing an additional 224,565 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in Pennsylvania R.E.I.T. by 174.7% in the 3rd quarter. First Republic Investment Management Inc. now owns 125,637 shares of the real estate investment trust’s stock worth $1,189,000 after purchasing an additional 79,904 shares in the last quarter. Finally, Virginia Retirement Systems ET AL bought a new position in Pennsylvania R.E.I.T. in the 4th quarter worth $324,000. 75.21% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Pennsylvania R.E.I.T. from a “strong sell” rating to a “hold” rating in a research report on Thursday. ValuEngine raised shares of Pennsylvania R.E.I.T. from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 4th. Boenning Scattergood raised shares of Pennsylvania R.E.I.T. from a “neutral” rating to an “outperform” rating in a research report on Monday. Barclays reissued a “sell” rating and set a $5.00 price objective on shares of Pennsylvania R.E.I.T. in a research report on Tuesday, April 16th. Finally, Citigroup set a $7.00 price objective on shares of Pennsylvania R.E.I.T. and gave the company a “hold” rating in a research report on Tuesday, February 26th. 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. The stock presently has an average rating of “Hold” and an average price target of $6.67.
Pennsylvania R.E.I.T. (NYSE:PEI) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.55). Pennsylvania R.E.I.T. had a negative return on equity of 20.43% and a negative net margin of 34.03%. The business had revenue of $84.68 million during the quarter, compared to the consensus estimate of $86.85 million. Research analysts forecast that Pennsylvania R.E.I.T. will post 1.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 11.62%. The ex-dividend date of this dividend is Friday, May 31st. Pennsylvania R.E.I.T.’s payout ratio is 54.55%.
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Pennsylvania R.E.I.T. Profile
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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