Pennsylvania R.E.I.T. Target of Unusually Large Options Trading (NYSE:PEI)

Pennsylvania R.E.I.T. (NYSE:PEI) saw some unusual options trading on Monday. Traders acquired 3,074 put options on the stock. This represents an increase of 1,763% compared to the typical daily volume of 165 put options.

Several research firms have weighed in on PEI. Citigroup lowered Pennsylvania R.E.I.T. from a “neutral” rating to a “sell” rating and cut their target price for the company from $6.00 to $4.50 in a report on Monday, September 23rd. JPMorgan Chase & Co. cut their target price on Pennsylvania R.E.I.T. from $6.00 to $5.50 and set an “underweight” rating on the stock in a report on Tuesday, December 3rd. ValuEngine upgraded Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Pennsylvania R.E.I.T. presently has a consensus rating of “Hold” and an average price target of $5.56.

In related news, CEO Joseph F. Coradino bought 11,200 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were bought at an average cost of $5.33 per share, for a total transaction of $59,696.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles P. Pizzi bought 10,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were bought at an average price of $5.34 per share, for a total transaction of $53,400.00. Following the completion of the acquisition, the director now owns 58,459 shares of the company’s stock, valued at $312,171.06. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 26,700 shares of company stock worth $142,976. Corporate insiders own 3.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Advisor Group Inc. grew its position in Pennsylvania R.E.I.T. by 816.1% during the second quarter. Advisor Group Inc. now owns 4,993 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 4,448 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Pennsylvania R.E.I.T. by 119.2% during the second quarter. Tower Research Capital LLC TRC now owns 7,250 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 3,943 shares in the last quarter. Sterling Investment Advisors Ltd. acquired a new stake in Pennsylvania R.E.I.T. during the third quarter worth about $54,000. Ayalon Holdings Ltd. acquired a new stake in Pennsylvania R.E.I.T. during the third quarter worth about $57,000. Finally, Griffin Asset Management Inc. acquired a new stake in Pennsylvania R.E.I.T. during the third quarter worth about $57,000. Institutional investors and hedge funds own 67.86% of the company’s stock.

Pennsylvania R.E.I.T. stock opened at $5.41 on Wednesday. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.52 and a current ratio of 0.52. The business’s 50-day simple moving average is $5.76 and its 200-day simple moving average is $5.82. The firm has a market capitalization of $419.77 million, a PE ratio of 3.51 and a beta of 1.20. Pennsylvania R.E.I.T. has a 52 week low of $4.34 and a 52 week high of $7.94.

Pennsylvania R.E.I.T. (NYSE:PEI) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The business had revenue of $80.88 million during the quarter, compared to the consensus estimate of $81.50 million. Pennsylvania R.E.I.T. had a negative return on equity of 15.16% and a negative net margin of 21.74%. Research analysts forecast that Pennsylvania R.E.I.T. will post 1.1 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.21 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 15.53%. Pennsylvania R.E.I.T.’s payout ratio is presently 54.55%.

About Pennsylvania R.E.I.T.

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.

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