Pennsylvania R.E.I.T. (PEI) Holdings Boosted by Legal & General Group Plc

Legal & General Group Plc boosted its position in Pennsylvania R.E.I.T. (NYSE:PEI) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 341,279 shares of the real estate investment trust’s stock after acquiring an additional 3,783 shares during the period. Legal & General Group Plc owned 0.48% of Pennsylvania R.E.I.T. worth $2,034,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Bank of Montreal Can increased its position in shares of Pennsylvania R.E.I.T. by 41.4% during 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 buying an additional 1,928 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Pennsylvania R.E.I.T. by 32.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,767 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 1,896 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Pennsylvania R.E.I.T. by 71.1% during the fourth quarter. Meeder Asset Management Inc. now owns 12,671 shares of the real estate investment trust’s stock worth $75,000 after purchasing an additional 5,266 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Pennsylvania R.E.I.T. by 60.9% during the fourth quarter. Hsbc Holdings PLC now owns 18,949 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 7,171 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of Pennsylvania R.E.I.T. during the fourth quarter worth about $118,000. Institutional investors and hedge funds own 75.21% of the company’s stock.

PEI has been the subject of several recent analyst reports. ValuEngine raised Pennsylvania R.E.I.T. from a “strong sell” rating to a “sell” rating in a report on Saturday, May 4th. Barclays reissued a “sell” rating and set a $5.00 price objective on shares of Pennsylvania R.E.I.T. in a report on Tuesday, April 16th. Zacks Investment Research raised Pennsylvania R.E.I.T. from a “strong sell” rating to a “hold” rating in a report on Thursday. Boenning Scattergood raised Pennsylvania R.E.I.T. from a “neutral” rating to an “outperform” rating in a report on Monday, May 6th. Finally, Citigroup set a $7.00 price objective on Pennsylvania R.E.I.T. and gave the stock a “hold” rating in a report on Tuesday, February 26th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $6.67.

Shares of NYSE PEI traded up $0.22 during midday trading on Friday, hitting $7.45. 1,209,493 shares of the company’s stock were exchanged, compared to its average volume of 1,860,667. The firm has a market capitalization of $559.48 million, a price-to-earnings ratio of 4.84 and a beta of 1.47. The company has a current ratio of 0.54, a quick ratio of 0.65 and a debt-to-equity ratio of 3.38. Pennsylvania R.E.I.T. has a 12-month low of $5.46 and a 12-month high of $12.45.

Pennsylvania R.E.I.T. (NYSE:PEI) last issued its earnings results on Thursday, May 2nd. The real estate investment trust reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.55). The firm had revenue of $84.68 million during the quarter, compared to analysts’ expectations 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, analysts predict that Pennsylvania R.E.I.T. will post 1.25 earnings per share for the current 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 $0.21 dividend. This represents a $0.84 annualized dividend and a 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%.

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Pennsylvania R.E.I.T. Company 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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