Ameriprise Financial Inc. Has $5.96 Million Position in Pennsylvania Real Estate Investment Trust (NYSE:PEI)

Ameriprise Financial Inc. boosted its stake in Pennsylvania Real Estate Investment Trust (NYSE:PEI) by 1.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 393,917 shares of the real estate investment trust’s stock after buying an additional 5,974 shares during the period. Ameriprise Financial Inc. owned approximately 0.56% of Pennsylvania Real Estate Investment Trust worth $5,964,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PEI. Amica Retiree Medical Trust boosted its stake in Pennsylvania Real Estate Investment Trust by 32.1% in the first quarter. Amica Retiree Medical Trust now owns 26,069 shares of the real estate investment trust’s stock worth $395,000 after buying an additional 6,338 shares during the last quarter. Karp Capital Management Corp bought a new position in Pennsylvania Real Estate Investment Trust during the first quarter worth approximately $406,000. Tudor Investment Corp Et Al raised its position in Pennsylvania Real Estate Investment Trust by 24.8% in the fourth quarter. Tudor Investment Corp Et Al now owns 28,059 shares of the real estate investment trust’s stock worth $532,000 after buying an additional 5,582 shares during the period. Louisiana State Employees Retirement System raised its position in Pennsylvania Real Estate Investment Trust by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 28,300 shares of the real estate investment trust’s stock worth $428,000 after buying an additional 300 shares during the period. Finally, Quantitative Systematic Strategies LLC raised its position in Pennsylvania Real Estate Investment Trust by 86.9% in the first quarter. Quantitative Systematic Strategies LLC now owns 33,701 shares of the real estate investment trust’s stock worth $510,000 after buying an additional 15,672 shares during the period.

Pennsylvania Real Estate Investment Trust (PEI) traded down 1.07% on Friday, hitting $12.02. The stock had a trading volume of 1,070,633 shares. The company’s market cap is $838.29 million. The stock’s 50-day moving average is $11.36 and its 200-day moving average is $14.33. Pennsylvania Real Estate Investment Trust has a 52-week low of $10.00 and a 52-week high of $25.67.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last posted its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.02. Pennsylvania Real Estate Investment Trust had a negative return on equity of 1.78% and a negative net margin of 3.49%. The firm had revenue of $89.26 million for the quarter, compared to analysts’ expectations of $97.98 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The business’s revenue for the quarter was down 12.5% on a year-over-year basis. Analysts expect that Pennsylvania Real Estate Investment Trust will post ($0.04) earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.84 annualized dividend and a yield of 6.99%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -182.61%.

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A number of research firms have commented on PEI. Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Stifel Nicolaus initiated coverage on Pennsylvania Real Estate Investment Trust in a research note on Friday, July 14th. They issued a “hold” rating and a $11.50 price target on the stock. ValuEngine downgraded Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Barclays PLC reissued an “underweight” rating and set a $14.00 price objective (down previously from $15.00) on shares of Pennsylvania Real Estate Investment Trust in a report on Wednesday, April 19th. Finally, Boenning Scattergood downgraded Pennsylvania Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a report on Monday, May 15th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company currently 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 firm’s stock in a transaction on Monday, June 12th. The stock was acquired at an average price of $11.78 per share, with a total value of $58,900.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at $58,900. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Joseph Roberts bought 10,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were acquired at an average cost of $10.76 per share, with a total value of $107,600.00. Following the purchase, the director now directly owns 33,060 shares of the company’s stock, valued at approximately $355,725.60. The disclosure for this purchase can be found here. Insiders acquired 35,000 shares of company stock valued at $391,000 over the last 90 days. 4.40% of the stock is currently owned by company insiders.

About Pennsylvania Real Estate Investment Trust

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).

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

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