Carret Asset Management LLC Trims Stock Position in Pennsylvania Real Estate Investment Trust (NYSE:PEI)


Share on StockTwits

Carret Asset Management LLC lowered its stake in shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) by 21.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 31,233 shares of the real estate investment trust’s stock after selling 8,700 shares during the period. Carret Asset Management LLC’s holdings in Pennsylvania Real Estate Investment Trust were worth $31,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEI. Public Employees Retirement System of Ohio grew its position in shares of Pennsylvania Real Estate Investment Trust by 44.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 33,564 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 10,349 shares during the period. Aperio Group LLC boosted its holdings in Pennsylvania Real Estate Investment Trust by 269.1% in the 4th quarter. Aperio Group LLC now owns 48,812 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 35,587 shares during the last quarter. Financial Advisory Corp UT ADV boosted its holdings in Pennsylvania Real Estate Investment Trust by 294.2% in the 4th quarter. Financial Advisory Corp UT ADV now owns 91,623 shares of the real estate investment trust’s stock worth $92,000 after buying an additional 68,382 shares during the last quarter. Virtu Financial LLC acquired a new stake in Pennsylvania Real Estate Investment Trust in the 4th quarter worth about $121,000. Finally, ExodusPoint Capital Management LP boosted its holdings in Pennsylvania Real Estate Investment Trust by 133.3% in the 3rd quarter. ExodusPoint Capital Management LP now owns 229,900 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 131,341 shares during the last quarter. Institutional investors and hedge funds own 27.91% of the company’s stock.

Separately, Zacks Investment Research cut Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a report on Friday, February 5th.

Shares of Pennsylvania Real Estate Investment Trust stock opened at $2.00 on Thursday. The stock has a market cap of $158.54 million, a P/E ratio of -1.44 and a beta of 3.00. The stock’s 50 day simple moving average is $2.06 and its 200-day simple moving average is $1.33. Pennsylvania Real Estate Investment Trust has a 1-year low of $0.35 and a 1-year high of $2.93. The company has a debt-to-equity ratio of 5.73, a current ratio of 0.95 and a quick ratio of 0.95.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its earnings results on Thursday, March 11th. The real estate investment trust reported ($2.62) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($2.78). Pennsylvania Real Estate Investment Trust had a negative return on equity of 21.68% and a negative net margin of 27.86%. As a group, research analysts expect that Pennsylvania Real Estate Investment Trust will post 0.37 EPS for the current fiscal year.

About Pennsylvania Real Estate Investment Trust

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.

Featured Story: What is Liquidity?

Want to see what other hedge funds are holding PEI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pennsylvania Real Estate Investment Trust (NYSE:PEI).

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.