Symons Capital Management Inc. acquired a new stake in Pennsylvania Real Estate Investment Trust (NYSE:PEI) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,351 shares of the real estate investment trust’s stock, valued at approximately $329,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dupont Capital Management Corp grew its holdings 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 purchasing an additional 5,117 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of Pennsylvania Real Estate Investment Trust in the third quarter valued at about $146,000. SG Americas Securities LLC grew its holdings 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 purchasing an additional 4,624 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of Pennsylvania Real Estate Investment Trust in the second quarter valued at about $171,000. Finally, BlueCrest Capital Management Ltd grew its holdings in shares of Pennsylvania Real Estate Investment Trust by 13.6% in the second quarter. BlueCrest Capital Management Ltd now owns 15,152 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 1,818 shares during the period. 99.30% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another publication, it was illegally copied and republished in violation of U.S. & international copyright law. The original version of this report can be read at https://www.thecerbatgem.com/2017/11/10/symons-capital-management-inc-takes-position-in-pennsylvania-real-estate-investment-trust-pei.html.

A number of equities research analysts recently issued reports on the stock. Citigroup Inc. dropped their price objective on shares of Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating for the company in a report on Friday. Zacks Investment Research raised shares of Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Thursday. Boenning Scattergood reissued a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, November 3rd. Barclays PLC reaffirmed a “sell” rating and issued a $10.00 target price on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, October 19th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $11.00 target price on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $13.83.

Pennsylvania Real Estate Investment Trust (NYSE PEI) traded up $0.09 during midday trading on Friday, reaching $11.03. 835,641 shares of the company’s stock were exchanged, compared to its average volume of 1,810,000. Pennsylvania Real Estate Investment Trust has a 52 week low of $9.32 and a 52 week high of $20.58. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.91 and a quick ratio of 1.91. The firm has a market capitalization of $771.10, a PE ratio of 6.00 and a beta of 1.28.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. Pennsylvania Real Estate Investment Trust had a negative net margin of 16.35% and a negative return on equity of 7.60%. The company had revenue of $89.20 million for the quarter, compared to analysts’ expectations of $98.85 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. Pennsylvania Real Estate Investment Trust’s revenue for the quarter was down 9.8% compared to the same quarter last year. equities research analysts anticipate that Pennsylvania Real Estate Investment Trust will post 1.65 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.84 dividend on an annualized basis and a yield of 7.62%. Pennsylvania Real Estate Investment Trust’s payout ratio is currently -67.74%.

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).

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.