BNP Paribas Arbitrage SA Has $388,000 Holdings in Pennsylvania Real Estate Investment Trust (PEI)

BNP Paribas Arbitrage SA lowered its stake in shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) by 69.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 36,991 shares of the real estate investment trust’s stock after selling 85,438 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.05% of Pennsylvania Real Estate Investment Trust worth $388,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PEI. Vanguard Group Inc. lifted its position in shares of Pennsylvania Real Estate Investment Trust by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 11,487,090 shares of the real estate investment trust’s stock worth $130,033,000 after buying an additional 130,986 shares in the last quarter. BlackRock Inc. lifted its position in shares of Pennsylvania Real Estate Investment Trust by 1.6% during the 2nd quarter. BlackRock Inc. now owns 10,389,468 shares of the real estate investment trust’s stock worth $117,609,000 after buying an additional 159,545 shares in the last quarter. State Street Corp lifted its position in shares of Pennsylvania Real Estate Investment Trust by 2.3% during the 2nd quarter. State Street Corp now owns 2,683,266 shares of the real estate investment trust’s stock worth $30,370,000 after buying an additional 60,384 shares in the last quarter. Northern Trust Corp lifted its position in shares of Pennsylvania Real Estate Investment Trust by 2.8% during the 2nd quarter. Northern Trust Corp now owns 2,232,312 shares of the real estate investment trust’s stock worth $25,270,000 after buying an additional 61,797 shares in the last quarter. Finally, Balyasny Asset Management LLC lifted its position in shares of Pennsylvania Real Estate Investment Trust by 66.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,561,440 shares of the real estate investment trust’s stock worth $17,676,000 after buying an additional 623,301 shares in the last quarter. Institutional investors and hedge funds own 98.97% of the company’s stock.

Pennsylvania Real Estate Investment Trust (NYSE PEI) traded up $0.24 during trading hours on Monday, hitting $10.83. 991,400 shares of the company were exchanged, compared to its average volume of 1,461,252. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.91 and a quick ratio of 1.91. The company has a market cap of $757.11, a PE ratio of 6.26 and a beta of 1.35. Pennsylvania Real Estate Investment Trust has a 52 week low of $9.32 and a 52 week high of $20.21.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The company had revenue of $89.20 million for the quarter, compared to analysts’ expectations of $98.85 million. Pennsylvania Real Estate Investment Trust had a negative net margin of 16.35% and a negative return on equity of 7.60%. Pennsylvania Real Estate Investment Trust’s revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 EPS. sell-side analysts anticipate that Pennsylvania Real Estate Investment Trust will post 1.65 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.76%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -67.74%.

Several equities analysts have commented on the stock. Citigroup dropped their target price on shares of Pennsylvania Real Estate Investment Trust from $13.50 to $12.50 and set a “neutral” rating on the stock in a research report on Monday, August 14th. Barclays lowered their price target on shares of Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Tuesday, August 15th. Zacks Investment Research raised shares of Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. ValuEngine raised shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, BidaskClub cut shares of Pennsylvania Real Estate Investment Trust from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Pennsylvania Real Estate Investment Trust presently has a consensus rating of “Hold” and a consensus target price of $13.83.

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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).

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

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