Kalos Management Inc. Takes Position in Pennsylvania Real Estate Investment Trust (PEI)

Kalos Management Inc. purchased a new stake in shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 52,895 shares of the real estate investment trust’s stock, valued at approximately $598,000. Kalos Management Inc. owned about 0.08% of Pennsylvania Real Estate Investment Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Pennsylvania Real Estate Investment Trust by 1.2% during the second quarter. Vanguard Group Inc. now owns 11,487,090 shares of the real estate investment trust’s stock valued at $130,033,000 after purchasing an additional 130,986 shares during the last quarter. BlackRock Inc. boosted its position in Pennsylvania Real Estate Investment Trust by 1.6% during the second quarter. BlackRock Inc. now owns 10,389,468 shares of the real estate investment trust’s stock valued at $117,609,000 after purchasing an additional 159,545 shares during the last quarter. State Street Corp boosted its position in Pennsylvania Real Estate Investment Trust by 2.3% during the second quarter. State Street Corp now owns 2,683,266 shares of the real estate investment trust’s stock valued at $30,370,000 after purchasing an additional 60,384 shares during the last quarter. Northern Trust Corp boosted its position in Pennsylvania Real Estate Investment Trust by 2.8% during the second quarter. Northern Trust Corp now owns 2,232,312 shares of the real estate investment trust’s stock valued at $25,270,000 after purchasing an additional 61,797 shares during the last quarter. Finally, Morgan Stanley boosted its position in Pennsylvania Real Estate Investment Trust by 667.8% during the first quarter. Morgan Stanley now owns 2,186,212 shares of the real estate investment trust’s stock valued at $33,099,000 after purchasing an additional 1,901,460 shares during the last quarter. 98.97% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently commented on the company. Zacks Investment Research raised Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. ValuEngine cut Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Stifel Nicolaus assumed coverage on Pennsylvania Real Estate Investment Trust in a research report on Friday, July 14th. They set a “hold” rating and a $11.50 price target for the company. Boenning Scattergood reissued a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, August 10th. Finally, Barclays PLC reduced their price target on Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $14.08.

Pennsylvania Real Estate Investment Trust (PEI) traded up 0.83% during mid-day trading on Wednesday, reaching $10.88. The company’s stock had a trading volume of 489,410 shares. The firm has a 50 day moving average price of $10.40 and a 200 day moving average price of $11.77. The company’s market cap is $759.73 million. Pennsylvania Real Estate Investment Trust has a 52-week low of $9.75 and a 52-week high of $21.85.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last announced its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Pennsylvania Real Estate Investment Trust had a negative return on equity of 9.06% and a negative net margin of 18.13%. The firm had revenue of $89.25 million for the quarter, compared to the consensus estimate of $95.60 million. During the same quarter in the previous year, the business earned $0.43 EPS. The company’s revenue was down 5.3% compared to the same quarter last year. Equities research analysts anticipate that Pennsylvania Real Estate Investment Trust will post ($0.76) earnings per share for the current year.

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Pennsylvania Real Estate Investment Trust Profile

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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Institutional Ownership by Quarter for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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