Nisa Investment Advisors LLC reduced its position in shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) by 50.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,400 shares of the real estate investment trust’s stock after selling 25,000 shares during the period. Nisa Investment Advisors LLC’s holdings in Pennsylvania Real Estate Investment Trust were worth $276,000 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 worth approximately $132,000. Independence Advisors LLC purchased a new position in Pennsylvania Real Estate Investment Trust during the second quarter worth approximately $1,390,000. BlueCrest Capital Management Ltd purchased a new position in Pennsylvania Real Estate Investment Trust during the first quarter worth approximately $202,000. Mason Street Advisors LLC raised its position in Pennsylvania Real Estate Investment Trust by 6.9% in the first quarter. Mason Street Advisors LLC now owns 16,247 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 1,052 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new position in Pennsylvania Real Estate Investment Trust during the first quarter worth approximately $339,000. 97.76% of the stock is currently owned by institutional investors.

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) traded up 5.082% during midday trading on Monday, hitting $11.475. 606,260 shares of the stock traded hands. The firm’s 50 day moving average price is $11.65 and its 200 day moving average price is $13.60. The company’s market capitalization is $801.26 million. Pennsylvania Real Estate Investment Trust has a 12-month low of $10.00 and a 12-month high of $25.43.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 7.69%. The ex-dividend date of this dividend is Wednesday, August 30th. Pennsylvania Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -64.12%.

WARNING: This piece was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.thecerbatgem.com/2017/08/14/pennsylvania-real-estate-investment-trust-pei-position-decreased-by-nisa-investment-advisors-llc.html.

A number of research firms have recently commented on PEI. Citigroup Inc. dropped their price target on shares of Pennsylvania Real Estate Investment Trust from $13.50 to $12.50 and set a “neutral” rating on the stock in a research report on Monday. Boenning Scattergood reissued a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday. BidaskClub raised shares of Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research lowered shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Stifel Nicolaus began coverage on shares of Pennsylvania Real Estate Investment Trust in a research report on Friday, July 14th. They issued a “hold” rating and a $11.50 price target on the stock. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $16.00.

In other Pennsylvania Real Estate Investment Trust news, Director George J. Alburger, Jr. purchased 5,000 shares of the company’s stock in a transaction that occurred on 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 purchase, the director now owns 5,000 shares in the company, valued at $58,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert F. Mccadden purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was acquired at an average price of $10.88 per share, for a total transaction of $108,800.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 35,000 shares of company stock worth $391,000. 4.40% of the stock is owned by company insiders.

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).

Institutional Ownership by Quarter for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

Receive News & Stock Ratings for Pennsylvania Real Estate Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennsylvania Real Estate Investment Trust and related stocks with our FREE daily email newsletter.