Pennsylvania Real Estate Investment Trust (PEI) Holdings Raised by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD raised its holdings in shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 686,494 shares of the real estate investment trust’s stock after purchasing an additional 7,222 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD owned 0.98% of Pennsylvania Real Estate Investment Trust worth $7,201,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PEI. BlackRock Inc. grew its stake in Pennsylvania Real Estate Investment Trust by 10,081.1% during the 1st quarter. BlackRock Inc. now owns 10,229,923 shares of the real estate investment trust’s stock valued at $154,881,000 after purchasing an additional 10,129,443 shares in the last quarter. Morgan Stanley grew its stake in Pennsylvania Real Estate Investment Trust by 667.8% during the 1st quarter. Morgan Stanley now owns 2,186,212 shares of the real estate investment trust’s stock valued at $33,099,000 after purchasing an additional 1,901,460 shares in the last quarter. Balyasny Asset Management LLC grew its stake in Pennsylvania Real Estate Investment Trust by 66.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,561,440 shares of the real estate investment trust’s stock valued at $17,676,000 after purchasing an additional 623,301 shares in the last quarter. King Street Capital Management L.P. acquired a new stake in Pennsylvania Real Estate Investment Trust during the 2nd quarter valued at approximately $5,660,000. Finally, Presima Inc. grew its stake in Pennsylvania Real Estate Investment Trust by 400.3% during the 2nd quarter. Presima Inc. now owns 446,300 shares of the real estate investment trust’s stock valued at $5,052,000 after purchasing an additional 357,100 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

A number of brokerages have weighed in on PEI. Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Barclays PLC restated a “sell” rating and set a $10.00 price objective on shares of Pennsylvania Real Estate Investment Trust in a research note on Thursday, October 19th. ValuEngine lowered Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Stifel Nicolaus began coverage on Pennsylvania Real Estate Investment Trust in a research note on Friday, July 14th. They set a “hold” rating and a $11.50 price objective for the company. Finally, Boenning Scattergood restated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research note on Thursday, August 10th. 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 an average price target of $13.92.

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Pennsylvania Real Estate Investment Trust (NYSE:PEI) opened at 9.72 on Wednesday. The company’s market cap is $678.72 million. Pennsylvania Real Estate Investment Trust has a 12-month low of $9.32 and a 12-month high of $20.58. The firm’s 50-day moving average price is $10.41 and its 200-day moving average price is $11.30.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. Pennsylvania Real Estate Investment Trust had a negative return on equity of 9.06% and a negative net margin of 18.13%. The firm had revenue of $89.25 million for the quarter, compared to analyst estimates of $95.60 million. During the same period in the previous year, the company posted $0.43 earnings per share. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. Analysts expect that Pennsylvania Real Estate Investment Trust will post ($0.81) EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.84 annualized dividend and a yield of 8.64%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio is -64.12%.

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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