Pennsylvania R.E.I.T. (PEI) Price Target Lowered to $10.00 at Barclays
Pennsylvania R.E.I.T. (NYSE:PEI) had its price target trimmed by Barclays from $11.00 to $10.00 in a research report sent to investors on Tuesday. The firm currently has an underweight rating on the real estate investment trust’s stock.
PEI has been the topic of a number of other reports. ValuEngine lowered shares of Pennsylvania R.E.I.T. from a buy rating to a hold rating in a report on Sunday, December 31st. Goldman Sachs Group began coverage on shares of Pennsylvania R.E.I.T. in a research note on Friday, January 19th. They set a sell rating and a $10.00 price objective for the company. Boenning Scattergood reaffirmed a hold rating on shares of Pennsylvania R.E.I.T. in a research note on Friday, February 16th. Citigroup dropped their price objective on shares of Pennsylvania R.E.I.T. from $12.00 to $11.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $11.50 price objective (down previously from $12.00) on shares of Pennsylvania R.E.I.T. in a research note on Thursday, February 15th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Pennsylvania R.E.I.T. presently has an average rating of Hold and a consensus price target of $12.21.
Pennsylvania R.E.I.T. (PEI) opened at $10.16 on Tuesday. The stock has a market cap of $710.27, a PE ratio of -11.42 and a beta of 1.22. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.18. Pennsylvania R.E.I.T. has a 1-year low of $9.30 and a 1-year high of $15.42.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.27%. The ex-dividend date of this dividend is Wednesday, February 28th. Pennsylvania R.E.I.T.’s dividend payout ratio is currently -94.38%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Fox Run Management L.L.C. acquired a new position in shares of Pennsylvania R.E.I.T. during the 4th quarter valued at about $139,000. Crossmark Global Holdings Inc. acquired a new position in shares of Pennsylvania R.E.I.T. during the 3rd quarter valued at about $146,000. Hartland & Co. LLC acquired a new position in shares of Pennsylvania R.E.I.T. during the 3rd quarter valued at about $185,000. Alps Advisors Inc. acquired a new stake in Pennsylvania R.E.I.T. during the 4th quarter worth approximately $227,000. Finally, Verition Fund Management LLC acquired a new stake in Pennsylvania R.E.I.T. during the 4th quarter worth approximately $241,000.
About Pennsylvania R.E.I.T.
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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