Pennsylvania R.E.I.T. (NYSE:PEI) Downgraded to Strong Sell at ValuEngine

ValuEngine cut shares of Pennsylvania R.E.I.T. (NYSE:PEI) from a sell rating to a strong sell rating in a report released on Saturday, ValuEngine reports.

Separately, Zacks Investment Research upgraded Pennsylvania R.E.I.T. from a sell rating to a hold rating in a report on Tuesday, September 3rd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $6.81.

Pennsylvania R.E.I.T. stock traded down $0.28 during mid-day trading on Friday, hitting $5.40. 1,945,560 shares of the company’s stock traded hands, compared to its average volume of 1,772,480. The firm has a 50 day moving average price of $5.32 and a 200 day moving average price of $6.10. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 3.70. The company has a market cap of $440.48 million, a PE ratio of 3.51 and a beta of 1.19. Pennsylvania R.E.I.T. has a one year low of $4.34 and a one year high of $9.89.

Pennsylvania R.E.I.T. (NYSE:PEI) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.44). Pennsylvania R.E.I.T. had a negative net margin of 28.45% and a negative return on equity of 18.31%. The business had revenue of $81.08 million for the quarter. On average, analysts expect that Pennsylvania R.E.I.T. will post 1.2 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.84 dividend on an annualized basis and a yield of 15.56%. Pennsylvania R.E.I.T.’s dividend payout ratio (DPR) is currently 54.55%.

A number of hedge funds and other institutional investors have recently modified their holdings of PEI. BNP Paribas Arbitrage SA grew its stake in Pennsylvania R.E.I.T. by 41.7% in the first quarter. BNP Paribas Arbitrage SA now owns 16,163 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 4,755 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Pennsylvania R.E.I.T. by 19.4% in the first quarter. SG Americas Securities LLC now owns 56,559 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 9,194 shares during the last quarter. Texas Permanent School Fund lifted its position in shares of Pennsylvania R.E.I.T. by 4.7% in the first quarter. Texas Permanent School Fund now owns 43,928 shares of the real estate investment trust’s stock worth $276,000 after buying an additional 1,967 shares during the last quarter. Nissay Asset Management Corp Japan ADV acquired a new stake in shares of Pennsylvania R.E.I.T. in the first quarter worth about $120,000. Finally, Everence Capital Management Inc. acquired a new stake in shares of Pennsylvania R.E.I.T. in the first quarter worth about $130,000. Hedge funds and other institutional investors own 66.45% of the company’s stock.

About Pennsylvania R.E.I.T.

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in the densely-populated eastern U.S.

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