Russell Investments Group Ltd. lowered its holdings in shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) by 65.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 284,541 shares of the real estate investment trust’s stock after selling 542,714 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.41% of Pennsylvania Real Estate Investment Trust worth $2,986,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Bank of Montreal Can grew its holdings in Pennsylvania Real Estate Investment Trust by 1,232.6% during the 2nd quarter. Bank of Montreal Can now owns 23,640 shares of the real estate investment trust’s stock valued at $268,000 after buying an additional 21,866 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in Pennsylvania Real Estate Investment Trust by 3.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,400 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 550 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in Pennsylvania Real Estate Investment Trust by 3.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 135,807 shares of the real estate investment trust’s stock valued at $1,536,000 after buying an additional 4,789 shares in the last quarter. Texas Permanent School Fund grew its holdings in Pennsylvania Real Estate Investment Trust by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 50,918 shares of the real estate investment trust’s stock valued at $576,000 after buying an additional 613 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Pennsylvania Real Estate Investment Trust by 16.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 760,611 shares of the real estate investment trust’s stock valued at $8,611,000 after buying an additional 106,176 shares in the last quarter. Hedge funds and other institutional investors own 97.74% of the company’s stock.

PEI has been the subject of several research analyst reports. Boenning Scattergood restated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, November 3rd. Stifel Nicolaus restated a “hold” rating and set a $11.00 price target on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 12th. Barclays restated a “sell” rating and set a $10.00 price target on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 19th. Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Finally, ValuEngine cut Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Pennsylvania Real Estate Investment Trust has a consensus rating of “Hold” and a consensus target price of $13.83.

Shares of Pennsylvania Real Estate Investment Trust (NYSE PEI) opened at $11.49 on Tuesday. The stock has a market capitalization of $788.22, a P/E ratio of 6.52 and a beta of 1.35. Pennsylvania Real Estate Investment Trust has a one year low of $9.32 and a one year high of $19.99. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.79.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last posted its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. The business had revenue of $89.20 million during the quarter, compared to analyst estimates of $98.85 million. Pennsylvania Real Estate Investment Trust had a negative return on equity of 7.60% and a negative net margin of 16.35%. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the company earned $0.48 EPS. sell-side analysts predict that Pennsylvania Real Estate Investment Trust will post 1.65 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 7.31%. The ex-dividend date of this dividend was Thursday, November 30th. Pennsylvania Real Estate Investment Trust’s payout ratio is -67.74%.

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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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