Alps Advisors Inc. acquired a new stake in shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 19,076 shares of the real estate investment trust’s stock, valued at approximately $227,000.

Other institutional investors also recently added to or reduced their stakes in the company. King Street Capital Management L.P. raised its position in shares of Pennsylvania Real Estate Investment Trust by 240.0% during the third quarter. King Street Capital Management L.P. now owns 1,700,000 shares of the real estate investment trust’s stock valued at $17,833,000 after buying an additional 1,200,000 shares during the last quarter. RMR Advisors LLC raised its position in shares of Pennsylvania Real Estate Investment Trust by 15.7% during the third quarter. RMR Advisors LLC now owns 147,628 shares of the real estate investment trust’s stock valued at $1,549,000 after buying an additional 20,000 shares during the last quarter. Stevens Capital Management LP raised its position in shares of Pennsylvania Real Estate Investment Trust by 33.8% during the third quarter. Stevens Capital Management LP now owns 116,415 shares of the real estate investment trust’s stock valued at $1,221,000 after buying an additional 29,396 shares during the last quarter. State Street Corp raised its position in shares of Pennsylvania Real Estate Investment Trust by 2.3% during the second quarter. State Street Corp now owns 2,683,266 shares of the real estate investment trust’s stock valued at $30,370,000 after buying an additional 60,384 shares during the last quarter. Finally, Highbridge Capital Management LLC raised its position in shares of Pennsylvania Real Estate Investment Trust by 346.6% during the third quarter. Highbridge Capital Management LLC now owns 401,958 shares of the real estate investment trust’s stock valued at $4,217,000 after buying an additional 311,958 shares during the last quarter.

Several research firms have recently issued reports on PEI. Zacks Investment Research upgraded shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Thursday, January 4th. ValuEngine cut shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Goldman Sachs Group assumed coverage on shares of Pennsylvania Real Estate Investment Trust in a research report on Friday, January 19th. They issued a “sell” rating and a $10.00 price target on the stock. Citigroup reduced their price target on shares of Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, November 10th. Finally, Barclays restated a “sell” rating and issued a $10.00 price target on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, October 19th. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Pennsylvania Real Estate Investment Trust presently has a consensus rating of “Hold” and a consensus price target of $12.29.

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) opened at $9.92 on Thursday. Pennsylvania Real Estate Investment Trust has a 1 year low of $9.30 and a 1 year high of $17.68. The firm has a market cap of $713.07, a price-to-earnings ratio of -8.00 and a beta of 1.24. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.91 and a quick ratio of 1.91.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last announced its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.47. 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 $99.77 million for the quarter, compared to analysts’ expectations of $102.76 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. Pennsylvania Real Estate Investment Trust’s quarterly revenue was down 4.9% on a year-over-year basis. analysts forecast that Pennsylvania Real Estate Investment Trust will post 1.65 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 8.47%. The ex-dividend date of this dividend is Wednesday, February 28th. Pennsylvania Real Estate Investment Trust’s dividend payout ratio is presently -67.74%.

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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).

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

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