Stevens Capital Management LP grew its holdings in Pennsylvania Real Estate Investment Trust (NYSE:PEI) by 33.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,415 shares of the real estate investment trust’s stock after purchasing an additional 29,396 shares during the period. Stevens Capital Management LP owned about 0.17% of Pennsylvania Real Estate Investment Trust worth $1,221,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 16.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 920,121 shares of the real estate investment trust’s stock valued at $10,416,000 after purchasing an additional 131,067 shares during the period. Bank of America Corp DE increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 92.2% in the 1st quarter. Bank of America Corp DE now owns 530,229 shares of the real estate investment trust’s stock valued at $8,028,000 after purchasing an additional 254,310 shares during the period. Dupont Capital Management Corp increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 77.4% in the 2nd quarter. Dupont Capital Management Corp now owns 11,727 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 5,117 shares during the period. Westpac Banking Corp increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 34.6% in the 2nd quarter. Westpac Banking Corp now owns 305,422 shares of the real estate investment trust’s stock valued at $3,457,000 after purchasing an additional 78,462 shares during the period. Finally, King Street Capital Management L.P. acquired a new position in shares of Pennsylvania Real Estate Investment Trust in the 2nd quarter valued at about $5,660,000. Institutional investors own 99.35% of the company’s stock.

A number of brokerages have recently weighed in on PEI. ValuEngine downgraded Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Boenning Scattergood reiterated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, November 3rd. Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Stifel Nicolaus set a $11.00 price objective on Pennsylvania Real Estate Investment Trust and gave the stock a “hold” rating in a report on Sunday, September 10th. Finally, Barclays PLC dropped their price objective on Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Pennsylvania Real Estate Investment Trust has an average rating of “Hold” and an average target price of $13.83.

Pennsylvania Real Estate Investment Trust (PEI) opened at $10.80 on Tuesday. Pennsylvania Real Estate Investment Trust has a twelve month low of $9.32 and a twelve month high of $20.58. The company has a market capitalization of $778.79, a P/E ratio of 6.44 and a beta of 1.29. 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 released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Pennsylvania Real Estate Investment Trust had a negative return on equity of 7.60% and a negative net margin of 16.35%. The firm had revenue of $89.20 million for the quarter, compared to the consensus estimate of $98.85 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. The firm’s revenue was down 9.8% on a year-over-year basis. analysts expect that Pennsylvania Real Estate Investment Trust will post 1.65 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.84 dividend on an annualized basis and a yield of 7.78%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio is currently -67.74%.

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Pennsylvania Real Estate Investment Trust 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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