10,560 Shares in Pennsylvania R.E.I.T. (NYSE:PEI) Acquired by Amalgamated Bank

Amalgamated Bank acquired a new stake in Pennsylvania R.E.I.T. (NYSE:PEI) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 10,560 shares of the real estate investment trust’s stock, valued at approximately $63,000.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its stake 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 valued at $67,883,000 after acquiring an additional 224,565 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Pennsylvania R.E.I.T. by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,709,303 shares of the real estate investment trust’s stock valued at $16,170,000 after acquiring an additional 13,275 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Pennsylvania R.E.I.T. by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,110,353 shares of the real estate investment trust’s stock valued at $10,504,000 after acquiring an additional 7,754 shares in the last quarter. Geode Capital Management LLC lifted its stake in Pennsylvania R.E.I.T. by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 893,967 shares of the real estate investment trust’s stock valued at $5,310,000 after acquiring an additional 48,408 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in Pennsylvania R.E.I.T. in the 3rd quarter valued at approximately $6,344,000. Institutional investors and hedge funds own 75.21% of the company’s stock.

Shares of Pennsylvania R.E.I.T. stock traded up $0.22 on Friday, reaching $7.45. 1,209,493 shares of the company were exchanged, compared to its average volume of 1,860,667. Pennsylvania R.E.I.T. has a one year low of $5.46 and a one year high of $12.45. The stock has a market cap of $559.48 million, a P/E ratio of 4.84 and a beta of 1.47. The company has a quick ratio of 0.65, a current ratio of 0.54 and a debt-to-equity ratio of 3.38.

Pennsylvania R.E.I.T. (NYSE:PEI) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $84.68 million for the quarter, compared to the consensus estimate of $86.85 million. On average, sell-side analysts expect that Pennsylvania R.E.I.T. will post 1.25 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders 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 of this dividend is Friday, May 31st. Pennsylvania R.E.I.T.’s dividend payout ratio is currently 54.55%.

Several research firms have commented on PEI. Zacks Investment Research upgraded Pennsylvania R.E.I.T. from a “strong sell” rating to a “hold” rating in a research note on Thursday. Boenning Scattergood upgraded Pennsylvania R.E.I.T. from a “neutral” rating to an “outperform” rating in a research note on Monday, May 6th. ValuEngine upgraded Pennsylvania R.E.I.T. from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 4th. Barclays reiterated a “sell” rating and set a $5.00 price objective on shares of Pennsylvania R.E.I.T. in a research note on Tuesday, April 16th. Finally, 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. Three equities research 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. The company presently has an average rating of “Hold” and a consensus target price of $6.67.

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

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