Pennsylvania Real Estate Invest (NYSE:PEI):
PREIT Declares Quarterly Dividend for Common and Preferred Shares.
The company is so far trading down since yesterday’s close of $19.64.
Pennsylvania Real Estate Invest declared a dividend for shareholders paid on Thursday the 15th of September 2016. The dividend was $0.210 per share for the quarter which comes to $0.84 on an annualized basis. This dividend represents a yeild of $4.00 which is the dividend as a percentage of the current share price. The ex-dividend date was Tuesday the 30th of August 2016.
Shares last traded at $19.44 a tad under $22.28, the stock’s 50 day moving average and which is marginally lower than the 200 day moving average of $22.76. The 50 day moving average went down $-2.84 or -12.74% whereas the 200 day average was down by -14.58%.
In the latest earnings report the EPS was $-1.14 and is estimated to be $1.85 for the current year with 69,515,000 shares currently outstanding. Next quarter’s EPS is estimated at $0.57 with next year’s EPS projected to be $1.97.
Several Wall Street analysts have weighed in on PEI of late. On April 20 the stock rating was upgraded to “Buy” from “Hold” by Stifel Nicolaus. On April 6 the company was upgraded from “Neutral” to “Outperform” in a report issued by Boenning & Scattergood.
Mitsubishi UFJ added PEI to its research portfolio by announcing an initial rating of “Overweight” and establishing a price target of $24.00. On April 1 Citigroup left the company rating at “Neutral” and moved up the price target to $23.00 from $20.00.
March 7 investment analysts at Barclays maintained a company rating of “Underweight” and raised the price target from $18.00 to $19.00. Barclays downgraded the stock and lowered the price target on January 26 cutting the price target from $21.00 to $18.00 and cutting the rating from “Equal-weight” to “Underperform”.