Pennsylvania R.E.I.T. (NYSE:PEI) Shares Bought by California Public Employees Retirement System

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California Public Employees Retirement System boosted its stake in shares of Pennsylvania R.E.I.T. (NYSE:PEI) by 11.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 140,938 shares of the real estate investment trust’s stock after acquiring an additional 14,762 shares during the period. California Public Employees Retirement System’s holdings in Pennsylvania R.E.I.T. were worth $806,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Virginia Retirement Systems ET AL raised its position in shares of Pennsylvania R.E.I.T. by 51.0% in the second quarter. Virginia Retirement Systems ET AL now owns 100,900 shares of the real estate investment trust’s stock valued at $656,000 after buying an additional 34,100 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Pennsylvania R.E.I.T. by 85.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 65,771 shares of the real estate investment trust’s stock valued at $428,000 after buying an additional 30,350 shares during the last quarter. KBC Group NV raised its position in shares of Pennsylvania R.E.I.T. by 44.0% in the second quarter. KBC Group NV now owns 203,339 shares of the real estate investment trust’s stock valued at $1,322,000 after buying an additional 62,096 shares during the last quarter. Aperio Group LLC raised its position in shares of Pennsylvania R.E.I.T. by 7.3% in the second quarter. Aperio Group LLC now owns 74,097 shares of the real estate investment trust’s stock valued at $482,000 after buying an additional 5,056 shares during the last quarter. Finally, Advisor Group Inc. raised its position in shares of Pennsylvania R.E.I.T. by 816.1% in the second quarter. Advisor Group Inc. now owns 4,993 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 4,448 shares during the last quarter. Institutional investors own 66.48% of the company’s stock.

In other news, CEO Joseph F. Coradino acquired 11,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was purchased at an average cost of $5.33 per share, for a total transaction of $59,696.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles P. Pizzi acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were purchased at an average price of $5.34 per share, with a total value of $53,400.00. Following the completion of the transaction, the director now owns 58,459 shares of the company’s stock, valued at approximately $312,171.06. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 26,700 shares of company stock valued at $142,976. 3.10% of the stock is owned by company insiders.

A number of equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Citigroup cut shares of Pennsylvania R.E.I.T. from a “neutral” rating to a “sell” rating and reduced their target price for the company from $6.00 to $4.50 in a research report on Monday, September 23rd. Finally, Zacks Investment Research upgraded shares of Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $6.19.

Shares of NYSE PEI opened at $5.53 on Tuesday. The firm has a 50-day simple moving average of $5.78 and a 200-day simple moving average of $5.89. The stock has a market capitalization of $446.93 million, a price-to-earnings ratio of 3.59 and a beta of 1.20. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.60. Pennsylvania R.E.I.T. has a 52 week low of $4.34 and a 52 week high of $8.20.

Pennsylvania R.E.I.T. (NYSE:PEI) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.07). Pennsylvania R.E.I.T. had a negative return on equity of 15.16% and a negative net margin of 21.74%. The firm had revenue of $80.88 million for the quarter, compared to analyst estimates of $81.50 million. As a group, equities research analysts expect that Pennsylvania R.E.I.T. will post 1.1 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 15.19%. The ex-dividend date is Friday, November 29th. Pennsylvania R.E.I.T.’s payout ratio is currently 54.55%.

Pennsylvania R.E.I.T. 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.

Read More: How to Invest in Growth Stocks

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Institutional Ownership by Quarter for Pennsylvania R.E.I.T. (NYSE:PEI)

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