Pennsylvania Real Estate Investment Trust (PEI) to Issue Quarterly Dividend of $0.21 on September 15th

Pennsylvania Real Estate Investment Trust (NYSE:PEI) announced a quarterly dividend on Friday, June 2nd, Wall Street Journal reports. Stockholders of record on Friday, September 1st will be paid a dividend of 0.21 per share by the real estate investment trust on Friday, September 15th. This represents a $0.84 annualized dividend and a dividend yield of 8.22%. The ex-dividend date is Wednesday, August 30th.

Pennsylvania Real Estate Investment Trust has increased its dividend payment by an average of 4.3% per year over the last three years and has increased its dividend every year for the last 5 years. Pennsylvania Real Estate Investment Trust has a payout ratio of 50.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Pennsylvania Real Estate Investment Trust to earn $1.78 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 47.2%.

Shares of Pennsylvania Real Estate Investment Trust (PEI) opened at 10.22 on Friday. The company has a 50 day moving average of $11.40 and a 200 day moving average of $13.14. The firm’s market cap is $713.63 million. Pennsylvania Real Estate Investment Trust has a 52 week low of $9.84 and a 52 week high of $25.43.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last announced its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. The firm had revenue of $89.25 million during the quarter, compared to analyst estimates of $95.60 million. Pennsylvania Real Estate Investment Trust had a negative return on equity of 9.06% and a negative net margin of 18.13%. The company’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. On average, equities research analysts anticipate that Pennsylvania Real Estate Investment Trust will post ($0.40) EPS for the current fiscal year.

A number of analysts recently commented on the company. Mitsubishi UFJ Financial Group lowered Pennsylvania Real Estate Investment Trust from an “overweight” rating to a “neutral” rating in a research report on Thursday. Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. BidaskClub lowered Pennsylvania Real Estate Investment Trust from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Stifel Nicolaus assumed coverage on Pennsylvania Real Estate Investment Trust in a research report on Friday, July 14th. They issued a “hold” rating and a $11.50 price objective for the company. Finally, ValuEngine lowered Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $15.50.

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In other Pennsylvania Real Estate Investment Trust news, Director John Joseph Roberts acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average price of $10.76 per share, for a total transaction of $107,600.00. Following the acquisition, the director now directly owns 33,060 shares of the company’s stock, valued at approximately $355,725.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George J. Alburger, Jr. acquired 5,000 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were acquired at an average price of $11.78 per share, for a total transaction of $58,900.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at $58,900. The disclosure for this purchase can be found here. Insiders have bought a total of 35,000 shares of company stock valued at $391,000 over the last 90 days. Corporate insiders own 4.40% of the company’s stock.

Pennsylvania Real Estate Investment Trust Company 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).