Today, Pennsylvania Real Estate Investment Trust (PEI) Cut to Hold at The Zacks Investment Research

Today, Pennsylvania Real Estate Investment Trust (PEI) Cut to Hold at The Zacks Investment Research
Pennsylvania Real Estate Investment Trust (NYSE:PEI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “PENNSYLVANIA R.E. INVEST. TR. is a real estate investment trust, engaged in acquiring and holding for investment interests in real estate. “

Pennsylvania Real Estate Investment Trust (NYSE:PEI) remained flat at $19.37 during midday trading on Tuesday. The company had a trading volume of 207,587 shares. The company’s market capitalization is $1.35 billion. The firm’s 50 day moving average price is $20.10 and its 200 day moving average price is $22.25. Pennsylvania Real Estate Investment Trust has a one year low of $16.42 and a one year high of $25.67.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, November 29th. Pennsylvania Real Estate Investment Trust’s payout ratio is currently -133.33%.

A number of institutional investors have recently made changes to their positions in the company. Fox Run Management L.L.C. acquired a new position in shares of Pennsylvania Real Estate Investment Trust during the second quarter worth about $461,000. Foundry Partners LLC acquired a new position in shares of Pennsylvania Real Estate Investment Trust during the second quarter worth about $10,338,000. Capstone Asset Management Co. boosted its position in shares of Pennsylvania Real Estate Investment Trust by 1.8% in the second quarter. Capstone Asset Management Co. now owns 20,345 shares of the real estate investment trust’s stock worth $436,000 after buying an additional 360 shares during the last quarter. Creative Planning boosted its position in shares of Pennsylvania Real Estate Investment Trust by 8.3% in the second quarter. Creative Planning now owns 9,118 shares of the real estate investment trust’s stock worth $196,000 after buying an additional 700 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Pennsylvania Real Estate Investment Trust by 118.9% in the second quarter. BNP Paribas Arbitrage SA now owns 22,135 shares of the real estate investment trust’s stock worth $475,000 after buying an additional 12,023 shares during the last quarter. Institutional investors own 96.23% of the company’s stock.

Pennsylvania Real Estate Investment Trust Company Profile

Pennsylvania Real Estate Investment Trust (PREIT) is an integrated, self-managed and self-administered real estate investment trust (REIT). The Company has a primary investment focus on retail shopping malls located in the eastern half of the United States. It is engaged in the ownership, management, leasing, acquisition, redevelopment, development and disposition of shopping malls.

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