Presima Inc. Increases Position in Pennsylvania Real Estate Investment Trust (NYSE:PEI)

Presima Inc. boosted its stake in shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) by 400.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 446,300 shares of the real estate investment trust’s stock after buying an additional 357,100 shares during the period. Pennsylvania Real Estate Investment Trust accounts for 0.7% of Presima Inc.’s holdings, making the stock its 17th largest position. Presima Inc. owned about 0.64% of Pennsylvania Real Estate Investment Trust worth $5,052,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PEI. Mckinley Capital Management LLC Delaware purchased a new position in Pennsylvania Real Estate Investment Trust during the first quarter valued at about $132,000. Municipal Employees Retirement System of Michigan increased its position in shares of Pennsylvania Real Estate Investment Trust by 3.5% in the second 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 buying an additional 550 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of Pennsylvania Real Estate Investment Trust during the first quarter valued at $202,000. Mason Street Advisors LLC increased its position in Pennsylvania Real Estate Investment Trust by 6.9% in the first quarter. Mason Street Advisors LLC now owns 16,247 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 1,052 shares in the last quarter. Finally, Bank of Montreal Can increased its position in Pennsylvania Real Estate Investment Trust by 1,232.6% in the second quarter. Bank of Montreal Can now owns 23,640 shares of the real estate investment trust’s stock worth $268,000 after buying an additional 21,866 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Shares of Pennsylvania Real Estate Investment Trust (NYSE PEI) traded down 1.44% on Friday, reaching $10.24. The company had a trading volume of 2,247,136 shares. Pennsylvania Real Estate Investment Trust has a one year low of $9.84 and a one year high of $25.43. The company has a 50-day moving average price of $11.54 and a 200-day moving average price of $13.36. The firm’s market cap is $715.03 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. The business had revenue of $89.25 million for the quarter, compared to the consensus estimate of $95.60 million. Pennsylvania Real Estate Investment Trust had a negative return on equity of 9.06% and a negative net margin of 18.13%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 earnings per share. On average, analysts expect that Pennsylvania Real Estate Investment Trust will post ($0.27) earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 8.20%. The ex-dividend date is Wednesday, August 30th. Pennsylvania Real Estate Investment Trust’s dividend payout ratio is currently -64.12%.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by BNB Daily and is the sole property of of BNB Daily. If you are reading this piece on another website, it was illegally copied and reposted in violation of US & international copyright laws. The legal version of this piece can be read at https://www.baseball-news-blog.com/2017/08/19/presima-inc-buys-357100-shares-of-pennsylvania-real-estate-investment-trust-nysepei-updated-updated.html.

A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Boenning Scattergood cut Pennsylvania Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a report on Monday, May 15th. ValuEngine lowered Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Stifel Nicolaus initiated coverage on Pennsylvania Real Estate Investment Trust in a research report on Friday, July 14th. They issued a “hold” rating and a $11.50 target price on the stock. Finally, BidaskClub raised Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $15.50.

In other Pennsylvania Real Estate Investment Trust news, Director John Joseph Roberts bought 10,000 shares of Pennsylvania Real Estate Investment Trust stock in a transaction on Tuesday, May 30th. The shares were purchased at an average price of $10.76 per share, with a total value of $107,600.00. Following the acquisition, the director now owns 33,060 shares in the company, valued at approximately $355,725.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George J. Alburger, Jr. bought 5,000 shares of Pennsylvania Real Estate Investment Trust stock in a transaction on Monday, June 12th. The stock was acquired at an average cost of $11.78 per share, for a total transaction of $58,900.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at approximately $58,900. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 35,000 shares of company stock worth $391,000. Company insiders own 4.40% of the company’s stock.

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 & 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 companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply