Green Street Investors LLC Has $1.32 Million Position in Pennsylvania Real Estate Investment Trust (PEI)

Green Street Investors LLC raised its stake in shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) by 37.2% during the second quarter, Holdings Channel reports. The firm owned 117,000 shares of the real estate investment trust’s stock after buying an additional 31,700 shares during the period. Pennsylvania Real Estate Investment Trust comprises approximately 0.8% of Green Street Investors LLC’s holdings, making the stock its 29th largest position. Green Street Investors LLC’s holdings in Pennsylvania Real Estate Investment Trust were worth $1,324,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Mckinley Capital Management LLC Delaware purchased a new position in Pennsylvania Real Estate Investment Trust during the first quarter valued at $132,000. Dupont Capital Management Corp boosted its position in Pennsylvania Real Estate Investment Trust by 77.4% in 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 buying an additional 5,117 shares during the last quarter. SG Americas Securities LLC boosted its position in Pennsylvania Real Estate Investment Trust by 46.3% in 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 buying an additional 4,624 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Pennsylvania Real Estate Investment Trust by 3.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,400 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 550 shares during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in Pennsylvania Real Estate Investment Trust during the first quarter valued at $202,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Pennsylvania Real Estate Investment Trust (NYSE PEI) opened at 10.80 on Tuesday. Pennsylvania Real Estate Investment Trust has a 1-year low of $10.00 and a 1-year high of $25.43. The stock’s market capitalization is $754.13 million. The stock has a 50 day moving average price of $11.66 and a 200 day moving average price of $13.49.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last posted its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $89.25 million during the quarter, compared to the consensus estimate of $95.60 million. Pennsylvania Real Estate Investment Trust had a negative net margin of 18.13% and a negative return on equity of 9.06%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 earnings per share. Equities research analysts anticipate that Pennsylvania Real Estate Investment Trust will post ($0.17) EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.21 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.47%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio (DPR) is currently -64.12%.

PEI has been the topic of several research analyst reports. Stifel Nicolaus initiated coverage on Pennsylvania Real Estate Investment Trust in a report on Friday, July 14th. They set a “hold” rating and a $11.50 price target on the stock. Boenning Scattergood reissued a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, August 10th. BidaskClub raised Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research raised Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Finally, ValuEngine cut Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $16.00.

In other news, CEO Joseph F. Coradino acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was acquired at an average price of $11.57 per share, for a total transaction of $115,700.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George J. Alburger, Jr. acquired 5,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was purchased at an average price of $11.78 per share, with a total value of $58,900.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $58,900. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 35,000 shares of company stock valued at $391,000. Insiders own 4.40% of the company’s stock.

About Pennsylvania Real Estate Investment Trust

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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