Pennsylvania R.E.I.T. (PEI) Stake Lessened by Pendal Group Ltd

Pendal Group Ltd cut its stake in Pennsylvania R.E.I.T. (NYSE:PEI) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,400 shares of the real estate investment trust’s stock after selling 3,800 shares during the period. Pendal Group Ltd owned approximately 0.18% of Pennsylvania R.E.I.T. worth $757,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can boosted its holdings in shares of Pennsylvania R.E.I.T. by 41.4% in the fourth quarter. Bank of Montreal Can now owns 6,583 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 1,928 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Pennsylvania R.E.I.T. in the second quarter valued at approximately $127,000. Meeder Asset Management Inc. boosted its holdings in shares of Pennsylvania R.E.I.T. by 71.1% in the fourth quarter. Meeder Asset Management Inc. now owns 12,671 shares of the real estate investment trust’s stock valued at $75,000 after acquiring an additional 5,266 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Pennsylvania R.E.I.T. in the second quarter valued at approximately $147,000. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of Pennsylvania R.E.I.T. in the third quarter valued at approximately $179,000. Institutional investors and hedge funds own 90.23% of the company’s stock.

PEI has been the subject of several recent analyst reports. Citigroup decreased their price objective on shares of Pennsylvania R.E.I.T. from $11.50 to $10.00 and set a “hold” rating for the company in a report on Tuesday, November 6th. Zacks Investment Research upgraded shares of Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. ValuEngine upgraded shares of Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a report on Friday, October 26th. Boenning Scattergood began coverage on shares of Pennsylvania R.E.I.T. in a report on Thursday, December 20th. They set a “neutral” rating for the company. Finally, Barclays restated a “sell” rating and set a $6.00 target price on shares of Pennsylvania R.E.I.T. in a report on Wednesday, January 16th. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $8.90.

Shares of NYSE:PEI opened at $7.17 on Friday. The company has a market cap of $505.23 million, a P/E ratio of 4.66 and a beta of 1.56. Pennsylvania R.E.I.T. has a 1-year low of $5.60 and a 1-year high of $12.45. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.44.

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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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Institutional Ownership by Quarter for Pennsylvania R.E.I.T. (NYSE:PEI)

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