Stephens Inc. AR Trims Stake in Pennsylvania Real Estate Investment Trust (PEI)

Stephens Inc. AR cut its stake in shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) by 70.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 37,202 shares of the real estate investment trust’s stock after selling 89,755 shares during the quarter. Stephens Inc. AR’s holdings in Pennsylvania Real Estate Investment Trust were worth $442,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Fox Run Management L.L.C. purchased a new position in Pennsylvania Real Estate Investment Trust during the fourth quarter valued at approximately $139,000. Crossmark Global Holdings Inc. purchased a new position in Pennsylvania Real Estate Investment Trust during the third quarter valued at approximately $146,000. Piedmont Investment Advisors LLC purchased a new position in Pennsylvania Real Estate Investment Trust during the second quarter valued at approximately $171,000. BlueCrest Capital Management Ltd increased its holdings in 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 buying an additional 1,818 shares during the period. Finally, Hartland & Co. LLC purchased a new position in Pennsylvania Real Estate Investment Trust during the third quarter valued at approximately $185,000.

Several equities analysts recently issued reports on PEI shares. Zacks Investment Research raised shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Thursday, January 4th. Boenning Scattergood reissued a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, November 3rd. ValuEngine lowered shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Citigroup cut their price objective on shares of Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating on the stock in a report on Friday, November 10th. Finally, Goldman Sachs Group started coverage on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, January 19th. They set a “sell” rating and a $10.00 price objective on the stock. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $12.29.

Shares of Pennsylvania Real Estate Investment Trust (PEI) opened at $9.99 on Wednesday. The firm has a market cap of $713.07, a P/E ratio of 5.90 and a beta of 1.24. Pennsylvania Real Estate Investment Trust has a one year low of $9.30 and a one year high of $17.94. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.79.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a $0.21 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.84 annualized dividend and a yield of 8.41%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio (DPR) is -67.74%.

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Pennsylvania Real Estate Investment Trust 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).

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

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