Fmr LLC trimmed its holdings in Pennsylvania Real Estate Investment Trust (NYSE:PEI) by 72.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 778,100 shares of the real estate investment trust’s stock after selling 2,094,735 shares during the period. Fmr LLC owned 1.12% of Pennsylvania Real Estate Investment Trust worth $8,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Louisiana State Employees Retirement System grew its stake in Pennsylvania Real Estate Investment Trust by 0.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 28,400 shares of the real estate investment trust’s stock valued at $321,000 after acquiring an additional 100 shares during the last quarter. Arizona State Retirement System lifted its holdings in Pennsylvania Real Estate Investment Trust by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 36,413 shares of the real estate investment trust’s stock valued at $412,000 after purchasing an additional 200 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in Pennsylvania Real Estate Investment Trust by 3.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,400 shares of the real estate investment trust’s stock valued at $186,000 after purchasing an additional 550 shares in the last quarter. Texas Permanent School Fund lifted its holdings in Pennsylvania Real Estate Investment Trust by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 50,918 shares of the real estate investment trust’s stock valued at $576,000 after purchasing an additional 613 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in Pennsylvania Real Estate Investment Trust by 1.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 82,789 shares of the real estate investment trust’s stock valued at $1,253,000 after purchasing an additional 1,001 shares in the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on the stock. ValuEngine lowered shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research lowered shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Stifel Nicolaus assumed 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 target price on the stock. Barclays PLC reduced their target price on shares of Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Tuesday, August 15th. Finally, BidaskClub upgraded shares of Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $13.92.

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Pennsylvania Real Estate Investment Trust (PEI) opened at 9.72 on Wednesday. The firm has a 50-day moving average of $10.41 and a 200-day moving average of $11.30. Pennsylvania Real Estate Investment Trust has a 12-month low of $9.32 and a 12-month high of $20.58. The stock’s market capitalization is $678.72 million.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $89.25 million for the quarter, compared to analysts’ expectations of $95.60 million. During the same quarter last year, the business posted $0.43 EPS. Pennsylvania Real Estate Investment Trust’s revenue was down 5.3% on a year-over-year basis. Equities research analysts forecast that Pennsylvania Real Estate Investment Trust will post ($0.81) earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.84 dividend on an annualized basis and a yield of 8.64%. Pennsylvania Real Estate Investment Trust’s payout ratio is presently -64.12%.

Pennsylvania Real Estate Investment Trust 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).

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

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