Pennsylvania R.E.I.T. (NYSE:PEI) Shares Gap Up to $4.64

Pennsylvania R.E.I.T. (NYSE:PEI) shares gapped up before the market opened on Thursday . The stock had previously closed at $4.83, but opened at $4.64. Pennsylvania R.E.I.T. shares last traded at $4.81, with a volume of 450,419 shares traded.

A number of research firms have commented on PEI. ValuEngine lowered shares of Pennsylvania R.E.I.T. from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 29th. Zacks Investment Research lowered shares of Pennsylvania R.E.I.T. from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Finally, Boenning Scattergood raised shares of Pennsylvania R.E.I.T. from a “neutral” rating to an “outperform” rating in a report on Monday, May 6th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.81.

The company has a market cap of $362.16 million, a price-to-earnings ratio of 3.06 and a beta of 1.19. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 3.70. The firm’s fifty day moving average price is $5.83 and its 200-day moving average price is $6.28.



Pennsylvania R.E.I.T. (NYSE:PEI) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.44). Pennsylvania R.E.I.T. had a negative net margin of 28.45% and a negative return on equity of 18.31%. The firm had revenue of $81.08 million during the quarter. As a group, research analysts anticipate that Pennsylvania R.E.I.T. will post 1.21 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 17.83%. The ex-dividend date of this dividend is Friday, August 30th. Pennsylvania R.E.I.T.’s dividend payout ratio (DPR) is 54.55%.

Hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Pennsylvania R.E.I.T. during the 4th quarter worth approximately $3,803,000. Meeder Asset Management Inc. grew its holdings in Pennsylvania R.E.I.T. by 38.2% in the 1st quarter. Meeder Asset Management Inc. now owns 17,512 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 4,841 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Pennsylvania R.E.I.T. by 233.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 66,690 shares of the real estate investment trust’s stock worth $419,000 after buying an additional 46,690 shares in the last quarter. Foundry Partners LLC grew its holdings in Pennsylvania R.E.I.T. by 79.3% in the 1st quarter. Foundry Partners LLC now owns 636,435 shares of the real estate investment trust’s stock worth $4,003,000 after buying an additional 281,485 shares in the last quarter. Finally, Virginia Retirement Systems ET AL grew its holdings in Pennsylvania R.E.I.T. by 22.6% in the 1st quarter. Virginia Retirement Systems ET AL now owns 66,800 shares of the real estate investment trust’s stock worth $420,000 after buying an additional 12,300 shares in the last quarter. 67.02% of the stock is owned by institutional investors.

About Pennsylvania R.E.I.T. (NYSE:PEI)

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in the densely-populated eastern U.S.

Read More: The primary rules of Elliott Wave theory

Receive News & Ratings for Pennsylvania R.E.I.T. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennsylvania R.E.I.T. and related companies with MarketBeat.com's FREE daily email newsletter.