Pennsylvania Real Estate Investment Trust (PEI) to Issue $0.21 Quarterly Dividend

Pennsylvania Real Estate Investment Trust (NYSE:PEI) declared a quarterly dividend on Tuesday, February 13th, Wall Street Journal reports. Shareholders of record on Thursday, March 1st will be given a dividend of 0.21 per share by the real estate investment trust on Thursday, March 15th. This represents a $0.84 annualized dividend and a yield of 8.41%. The ex-dividend date of this dividend is Wednesday, February 28th.

Pennsylvania Real Estate Investment Trust has increased its dividend by an average of 1.6% annually over the last three years. Pennsylvania Real Estate Investment Trust has a payout ratio of 51.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Pennsylvania Real Estate Investment Trust to earn $1.71 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 49.1%.

Pennsylvania Real Estate Investment Trust (PEI) traded down $0.21 during trading hours on Tuesday, reaching $9.99. The company’s stock had a trading volume of 1,563,563 shares, compared to its average volume of 1,239,405. Pennsylvania Real Estate Investment Trust has a 12-month low of $9.30 and a 12-month high of $17.94. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a market cap of $713.07, a P/E ratio of -8.23 and a beta of 1.23.

Several brokerages have commented on PEI. Zacks Investment Research upgraded shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Thursday, January 4th. ValuEngine cut shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Goldman Sachs Group began coverage on shares of Pennsylvania Real Estate Investment Trust in a research report on Friday, January 19th. They set a “sell” rating and a $10.00 target price for the company. Citigroup dropped their target price on shares of Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating for the company in a research report on Friday, November 10th. Finally, Barclays reiterated a “sell” rating and set a $10.00 target price on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, October 19th. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $12.29.

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Pennsylvania Real Estate Investment Trust Company 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).

Dividend History for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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