Pennsylvania Real Estate Investment Trust (NYSE:pei) announced a quarterly dividend on Monday, October 31st. Stockholders of record on Thursday, December 1st will be given a dividend of 0.21 per share by the real estate investment trust on Thursday, December 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Tuesday, November 29th.

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) opened at 19.37 on Thursday. The stock’s market cap is $1.35 billion. Pennsylvania Real Estate Investment Trust has a 12-month low of $16.42 and a 12-month high of $25.67. The stock’s 50 day moving average is $20.22 and its 200-day moving average is $22.28.

Dividend History for Pennsylvania Real Estate Investment Trust (NYSE:pei)

A number of large investors have recently made changes to their positions in PEI. FMR LLC raised its stake in Pennsylvania Real Estate Investment Trust by 106.7% in the second quarter. FMR LLC now owns 3,396,601 shares of the real estate investment trust’s stock valued at $72,857,000 after buying an additional 1,753,001 shares in the last quarter. American Century Companies Inc. acquired a new stake in Pennsylvania Real Estate Investment Trust during the second quarter valued at approximately $6,737,000. Blackstone Group L.P. acquired a new stake in Pennsylvania Real Estate Investment Trust during the second quarter valued at approximately $3,317,000. Piermont Capital Management Inc. acquired a new stake in Pennsylvania Real Estate Investment Trust during the second quarter valued at approximately $2,608,000. Finally, BlackRock Fund Advisors raised its stake in Pennsylvania Real Estate Investment Trust by 2.7% in the second quarter. BlackRock Fund Advisors now owns 4,472,249 shares of the real estate investment trust’s stock valued at $95,930,000 after buying an additional 119,648 shares in the last quarter. Institutional investors own 96.23% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Wednesday, October 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $24.33.

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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.

5 Day Chart for NYSE:PEI

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