Pennsylvania R.E.I.T. (PEI) To Go Ex-Dividend on November 29th

Pennsylvania R.E.I.T. (NYSE:PEI) announced a quarterly dividend on Monday, October 28th, Zacks reports. Shareholders of record on Monday, December 2nd will be given a dividend of 0.21 per share by the real estate investment trust on Monday, December 16th. This represents a $0.84 annualized dividend and a yield of 14.17%. The ex-dividend date of this dividend is Friday, November 29th.

Shares of PEI stock opened at $5.93 on Wednesday. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market cap of $425.98 million, a price-to-earnings ratio of 3.85 and a beta of 1.20. The stock has a 50 day simple moving average of $5.70 and a 200-day simple moving average of $5.94. Pennsylvania R.E.I.T. has a 1-year low of $4.34 and a 1-year high of $8.56.

Pennsylvania R.E.I.T. (NYSE:PEI) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.07). The business had revenue of $80.88 million for the quarter, compared to analyst estimates of $81.50 million. Pennsylvania R.E.I.T. had a negative return on equity of 15.16% and a negative net margin of 21.74%. Analysts anticipate that Pennsylvania R.E.I.T. will post 1.11 earnings per share for the current fiscal year.

Several research analysts have recently weighed in on the company. Zacks Investment Research downgraded Pennsylvania R.E.I.T. from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. ValuEngine raised Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Citigroup downgraded Pennsylvania R.E.I.T. from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $6.00 to $4.50 in a research note on Monday, September 23rd. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $6.19.

In other news, CEO Joseph F. Coradino acquired 11,200 shares of Pennsylvania R.E.I.T. stock in a transaction that occurred on Tuesday, September 17th. The stock was purchased at an average cost of $5.33 per share, with a total value of $59,696.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Charles P. Pizzi acquired 10,000 shares of Pennsylvania R.E.I.T. stock in a transaction that occurred on Wednesday, September 18th. The stock was purchased at an average cost of $5.34 per share, with a total value of $53,400.00. Following the completion of the purchase, the director now owns 58,459 shares in the company, valued at approximately $312,171.06. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 26,700 shares of company stock valued at $142,976. 3.10% of the stock is owned by corporate insiders.

Pennsylvania R.E.I.T. Company Profile

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.

See Also: Consumer Price Index (CPI)

Dividend History for Pennsylvania R.E.I.T. (NYSE:PEI)

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