Trade Report: Today, Pennsylvania Real Estate Investment Trust (PEI) Rating Decreased to Hold at The Zacks Investment Research

Today, Pennsylvania Real Estate Investment Trust (PEI) Rating Decreased 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 research report issued to clients and investors on Wednesday.

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. “

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) traded down 0.46% during trading on Wednesday, reaching $19.28. The company’s stock had a trading volume of 501,323 shares. Pennsylvania Real Estate Investment Trust has a 12-month low of $16.42 and a 12-month high of $25.67. The stock’s market cap is $1.34 billion. The stock’s 50-day moving average is $20.04 and its 200-day moving average is $22.20.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.84 annualized dividend and a yield of 4.36%. Pennsylvania Real Estate Investment Trust’s payout ratio is -133.33%.

A number of institutional investors have recently bought and sold shares of PEI. D.A. Davidson & CO. purchased a new position in Pennsylvania Real Estate Investment Trust during the third quarter valued at $101,000. US Bancorp DE raised its position in Pennsylvania Real Estate Investment Trust by 364.1% in the third quarter. US Bancorp DE now owns 4,854 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 3,808 shares during the last quarter. Advisor Group Inc. purchased a new position in Pennsylvania Real Estate Investment Trust during the second quarter valued at $120,000. Emerald Acquisition Ltd. purchased a new position in Pennsylvania Real Estate Investment Trust during the second quarter valued at $171,000. Finally, Amica Pension Fund Board of Trustees purchased a new position in Pennsylvania Real Estate Investment Trust during the third quarter valued at $180,000. Institutional investors own 91.38% of the company’s stock.

About Pennsylvania Real Estate Investment Trust

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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