Investors Purchase Large Volume of Put Options on Pennsylvania R.E.I.T. (NYSE:PEI)

Pennsylvania R.E.I.T. (NYSE:PEI) was the target of some unusual options trading on Wednesday. Investors bought 3,496 put options on the company. This is an increase of approximately 4,270% compared to the average daily volume of 80 put options.

Several institutional investors and hedge funds have recently modified their holdings of the business. NumerixS Investment Technologies Inc acquired a new position in shares of Pennsylvania R.E.I.T. during the first quarter worth about $102,000. Swiss National Bank lifted its stake in shares of Pennsylvania R.E.I.T. by 3.0% during the first quarter. Swiss National Bank now owns 128,400 shares of the real estate investment trust’s stock worth $808,000 after purchasing an additional 3,800 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Pennsylvania R.E.I.T. by 1.9% during the first quarter. BlackRock Inc. now owns 11,648,170 shares of the real estate investment trust’s stock worth $73,265,000 after purchasing an additional 219,859 shares in the last quarter. Magnus Financial Group LLC acquired a new position in shares of Pennsylvania R.E.I.T. during the first quarter worth about $96,000. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of Pennsylvania R.E.I.T. by 26.9% during the first quarter. Parametric Portfolio Associates LLC now owns 366,679 shares of the real estate investment trust’s stock worth $2,306,000 after purchasing an additional 77,827 shares in the last quarter. Institutional investors own 75.21% of the company’s stock.

A number of equities research analysts have recently commented on the company. Zacks Investment Research downgraded Pennsylvania R.E.I.T. from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Boenning Scattergood raised Pennsylvania R.E.I.T. from a “neutral” rating to an “outperform” rating in a research report on Monday. ValuEngine raised Pennsylvania R.E.I.T. from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 4th. Barclays reissued a “sell” rating and set a $6.00 price target on shares of Pennsylvania R.E.I.T. in a research report on Wednesday, January 16th. Finally, Citigroup set a $7.00 price target on 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 given a buy rating to the company’s stock. Pennsylvania R.E.I.T. currently has a consensus rating of “Hold” and an average target price of $6.67.

Shares of PEI traded up $0.22 during midday trading on Friday, reaching $7.45. 1,205,278 shares of the company were exchanged, compared to its average volume of 1,553,614. The stock has a market cap of $572.63 million, a PE ratio of 4.84 and a beta of 1.47. Pennsylvania R.E.I.T. has a 1-year low of $5.46 and a 1-year high of $12.45. The company has a debt-to-equity ratio of 3.38, a current ratio of 0.54 and a quick ratio of 0.65.

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) EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.55). The company had revenue of $84.68 million for the quarter, compared to analyst estimates of $86.85 million. Pennsylvania R.E.I.T. had a negative return on equity of 20.43% and a negative net margin of 34.03%. On average, research analysts anticipate that Pennsylvania R.E.I.T. will post 1.25 earnings per share for the current year.

The business also recently disclosed 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 dividend yield of 11.28%. The ex-dividend date is Friday, May 31st. Pennsylvania R.E.I.T.’s dividend payout ratio is presently 54.55%.

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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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