NGAM Advisors L.P. increased its position in shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) by 99.3% during the second quarter, Holdings Channel reports. The institutional investor owned 184,812 shares of the real estate investment trust’s stock after buying an additional 92,080 shares during the period. NGAM Advisors L.P.’s holdings in Pennsylvania Real Estate Investment Trust were worth $2,092,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan raised its position in 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 in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in Pennsylvania Real Estate Investment Trust by 1,627.5% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 679,272 shares of the real estate investment trust’s stock worth $7,689,000 after buying an additional 639,951 shares in the last quarter. Aperio Group LLC raised its position in Pennsylvania Real Estate Investment Trust by 182.8% in the second quarter. Aperio Group LLC now owns 75,825 shares of the real estate investment trust’s stock worth $858,000 after buying an additional 49,013 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Pennsylvania Real Estate Investment Trust by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 28,400 shares of the real estate investment trust’s stock worth $321,000 after buying an additional 100 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in Pennsylvania Real Estate Investment Trust by 24.8% in the second quarter. State of Alaska Department of Revenue now owns 100,399 shares of the real estate investment trust’s stock worth $1,135,000 after buying an additional 19,959 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Shares of Pennsylvania Real Estate Investment Trust (NYSE PEI) opened at 10.92 on Friday. Pennsylvania Real Estate Investment Trust has a one year low of $10.00 and a one year high of $25.43. The company’s market capitalization is $762.51 million. The company’s 50-day moving average price is $11.65 and its 200-day moving average price is $13.60.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. Pennsylvania Real Estate Investment Trust had a negative return on equity of 9.06% and a negative net margin of 18.13%. The business had revenue of $89.25 million for the quarter, compared to the consensus estimate of $95.60 million. During the same period last year, the business posted $0.43 EPS. The company’s revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts predict that Pennsylvania Real Estate Investment Trust will post ($0.04) earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.84 annualized dividend and a yield of 7.69%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio is -64.12%.

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A number of research analysts have recently weighed in on the company. Boenning Scattergood restated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday. BidaskClub upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research lowered Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Stifel Nicolaus began coverage on Pennsylvania Real Estate Investment Trust in a report on Friday, July 14th. They set a “hold” rating and a $11.50 price target on the stock. Finally, ValuEngine lowered Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Pennsylvania Real Estate Investment Trust has a consensus rating of “Hold” and a consensus target price of $16.70.

In other Pennsylvania Real Estate Investment Trust news, Director George J. Alburger, Jr. bought 5,000 shares of the business’s stock in a transaction on Monday, June 12th. The shares were acquired at an average cost of $11.78 per share, for a total transaction of $58,900.00. Following the purchase, the director now owns 5,000 shares in the company, valued at approximately $58,900. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Joseph Roberts bought 10,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were acquired at an average price of $10.76 per share, for a total transaction of $107,600.00. Following the completion of the purchase, the director now owns 33,060 shares in the company, valued at approximately $355,725.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 35,000 shares of company stock worth $391,000. Company 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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