Great West Life Assurance Co. Can boosted its position in shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 135,807 shares of the real estate investment trust’s stock after buying an additional 4,789 shares during the period. Great West Life Assurance Co. Can owned 0.19% of Pennsylvania Real Estate Investment Trust worth $1,536,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware bought a new position in shares of Pennsylvania Real Estate Investment Trust during the first quarter worth about $132,000. Municipal Employees Retirement System of Michigan boosted its position in shares of Pennsylvania Real Estate Investment Trust by 3.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,400 shares of the real estate investment trust’s stock worth $186,000 after buying an additional 550 shares during the period. BlueCrest Capital Management Ltd bought a new position in shares of Pennsylvania Real Estate Investment Trust during the first quarter worth about $202,000. Mason Street Advisors LLC boosted its position in shares of Pennsylvania Real Estate Investment Trust by 6.9% in the first quarter. Mason Street Advisors LLC now owns 16,247 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 1,052 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Pennsylvania Real Estate Investment Trust by 1,232.6% in the second quarter. Bank of Montreal Can now owns 23,640 shares of the real estate investment trust’s stock worth $268,000 after buying an additional 21,866 shares during the period. Institutional investors and hedge funds own 99.29% of the company’s stock.

Pennsylvania Real Estate Investment Trust (PEI) opened at 10.03 on Thursday. The company’s market capitalization is $700.36 million. The stock’s 50 day moving average price is $11.38 and its 200-day moving average price is $13.09. Pennsylvania Real Estate Investment Trust has a 52 week low of $9.75 and a 52 week high of $25.43.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last released its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $89.25 million for the quarter, compared to the consensus estimate of $95.60 million. Pennsylvania Real Estate Investment Trust had a negative net margin of 18.13% and a negative return on equity of 9.06%. The business’s revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 EPS. On average, equities research analysts predict that Pennsylvania Real Estate Investment Trust will post ($0.40) earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.37%. The ex-dividend date of this dividend is Wednesday, August 30th. Pennsylvania Real Estate Investment Trust’s dividend payout ratio (DPR) is -64.12%.

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PEI has been the topic of a number of recent research reports. Zacks Investment Research raised Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Boenning Scattergood reaffirmed a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research note on Thursday, August 10th. BidaskClub raised Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Stifel Nicolaus initiated coverage on Pennsylvania Real Estate Investment Trust in a research note on Friday, July 14th. They set a “hold” rating and a $11.50 price objective on the stock. Finally, ValuEngine cut Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Pennsylvania Real Estate Investment Trust has an average rating of “Hold” and an average price target of $15.00.

In related news, Director George J. Alburger, Jr. purchased 5,000 shares of Pennsylvania Real Estate Investment Trust stock in a transaction dated Monday, June 12th. The shares were acquired at an average cost of $11.78 per share, with a total value of $58,900.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at $58,900. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Robert F. Mccadden purchased 10,000 shares of Pennsylvania Real Estate Investment Trust stock in a transaction dated Monday, June 19th. The stock was bought at an average cost of $10.88 per share, for a total transaction of $108,800.00. The disclosure for this purchase can be found here. Insiders bought a total of 25,000 shares of company stock worth $283,400 over the last three months. Insiders own 4.40% of the company’s stock.

Pennsylvania Real Estate Investment Trust Company Profile

Pennsylvania Real Estate Investment Trust (PREIT) is a self-managed and self-administered real estate investment trust (REIT). The Company’s primary business is owning and operating retail shopping malls, which it does primarily through operating partnership, PREIT Associates, L.P. (PREIT Associates).

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Institutional Ownership by Quarter for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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