Principal Financial Group Inc. Sells 37,052 Shares of Pennsylvania Real Estate Investment Trust (PEI)

Principal Financial Group Inc. cut its position in Pennsylvania Real Estate Investment Trust (NYSE:PEI) by 5.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 679,923 shares of the real estate investment trust’s stock after selling 37,052 shares during the quarter. Principal Financial Group Inc. owned approximately 0.97% of Pennsylvania Real Estate Investment Trust worth $7,132,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of PEI. Dupont Capital Management Corp increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 77.4% during the second quarter. Dupont Capital Management Corp now owns 11,727 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 5,117 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Pennsylvania Real Estate Investment Trust during the third quarter valued at about $146,000. SG Americas Securities LLC increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 46.3% during the second quarter. SG Americas Securities LLC now owns 14,618 shares of the real estate investment trust’s stock valued at $165,000 after acquiring an additional 4,624 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of Pennsylvania Real Estate Investment Trust during the second quarter valued at about $171,000. Finally, BlueCrest Capital Management Ltd increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 13.6% during the second quarter. BlueCrest Capital Management Ltd now owns 15,152 shares of the real estate investment trust’s stock valued at $172,000 after acquiring an additional 1,818 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Shares of Pennsylvania Real Estate Investment Trust (NYSE PEI) traded up $0.28 during trading hours on Friday, reaching $10.59. 965,100 shares of the company traded hands, compared to its average volume of 1,463,243. Pennsylvania Real Estate Investment Trust has a one year low of $9.32 and a one year high of $20.21. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.79. The firm has a market cap of $720.76, a P/E ratio of 5.96 and a beta of 1.35.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Pennsylvania Real Estate Investment Trust had a negative net margin of 16.35% and a negative return on equity of 7.60%. The company 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 earned $0.48 EPS. Pennsylvania Real Estate Investment Trust’s quarterly revenue was down 9.8% on a year-over-year basis. research analysts anticipate that Pennsylvania Real Estate Investment Trust will post 1.65 EPS for the current year.

The firm also recently declared 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 is Thursday, November 30th. This represents a $0.84 annualized dividend and a yield of 7.93%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -67.74%.

PEI has been the topic of several recent analyst reports. Boenning Scattergood restated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, November 3rd. Stifel Nicolaus restated a “hold” rating and set a $11.00 price objective on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 12th. Barclays restated a “sell” rating and set a $10.00 price objective on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 19th. ValuEngine downgraded shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Mitsubishi UFJ Financial Group downgraded shares of Pennsylvania Real Estate Investment Trust from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $12.00 in a report on Thursday, August 24th. Two 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. The company currently has a consensus rating of “Hold” and an average price target of $13.83.

WARNING: “Principal Financial Group Inc. Sells 37,052 Shares of Pennsylvania Real Estate Investment Trust (PEI)” was first reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://www.com-unik.info/2017/12/08/principal-financial-group-inc-sells-37052-shares-of-pennsylvania-real-estate-investment-trust-pei.html.

Pennsylvania Real Estate Investment Trust Company 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).

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

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