Mitsubishi UFJ Financial Group downgraded shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) from an overweight rating to a neutral rating in a report issued on Thursday.

Several other research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Pennsylvania Real Estate Investment Trust from a sell rating to a hold rating in a report on Tuesday, May 2nd. Boenning Scattergood cut shares of Pennsylvania Real Estate Investment Trust from an outperform rating to a neutral rating in a report on Monday, May 15th. ValuEngine cut shares of Pennsylvania Real Estate Investment Trust from a buy rating to a hold rating in a report on Friday, June 2nd. Stifel Nicolaus started coverage on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, July 14th. They issued a hold rating and a $11.50 price target on the stock. Finally, BidaskClub raised shares of Pennsylvania Real Estate Investment Trust from a sell rating to a hold rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The stock currently has an average rating of Hold and an average price target of $15.50.

Shares of Pennsylvania Real Estate Investment Trust (PEI) traded up 1.76% during midday trading on Thursday, reaching $10.40. The company’s stock had a trading volume of 836,585 shares. The stock has a 50-day moving average price of $11.40 and a 200 day moving average price of $13.14. Pennsylvania Real Estate Investment Trust has a 52 week low of $9.84 and a 52 week high of $25.43. The stock’s market capitalization is $726.20 million.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last released its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The firm had revenue of $89.25 million for the quarter, compared to analysts’ expectations 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 business’s revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. Equities analysts forecast that Pennsylvania Real Estate Investment Trust will post ($0.40) earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Pennsylvania Real Estate Investment Trust (PEI) Downgraded to “Neutral” at Mitsubishi UFJ Financial Group” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another site, it was illegally copied and republished in violation of US and international copyright and trademark law. The correct version of this article can be viewed at https://www.thecerbatgem.com/2017/08/25/pennsylvania-real-estate-investment-trust-pei-downgraded-to-neutral-at-mitsubishi-ufj-financial-group.html.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.84 annualized dividend and a dividend yield of 8.22%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio is presently -64.12%.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware acquired a new position in shares of Pennsylvania Real Estate Investment Trust during the first quarter valued at approximately $132,000. Independence Advisors LLC acquired a new position in shares of Pennsylvania Real Estate Investment Trust during the second quarter valued at approximately $1,390,000. Dupont Capital Management Corp boosted its position in shares of 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 in the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Pennsylvania Real Estate Investment Trust during the first quarter valued at approximately $202,000. Finally, SG Americas Securities LLC boosted its position in shares of 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 in the last quarter. 97.76% of the stock is currently owned by institutional investors.

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).

Analyst Recommendations 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.