Pennsylvania R.E.I.T. (PEI) to Issue Quarterly Dividend of $0.21

Pennsylvania R.E.I.T. (NYSE:PEI) declared a quarterly dividend on Monday, February 11th, Wall Street Journal reports. Shareholders of record on Friday, March 1st will be paid a dividend of 0.21 per share by the real estate investment trust on Friday, March 15th. This represents a $0.84 dividend on an annualized basis and a yield of 11.28%. The ex-dividend date is Thursday, February 28th.

Pennsylvania R.E.I.T. has increased its dividend by an average of 10.1% per year over the last three years. Pennsylvania R.E.I.T. has a payout ratio of 55.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pennsylvania R.E.I.T. to earn $1.44 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 58.3%.

PEI stock traded up $0.51 during trading on Monday, reaching $7.45. 1,883,735 shares of the company’s stock were exchanged, compared to its average volume of 1,390,223. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.74 and a current ratio of 0.74. Pennsylvania R.E.I.T. has a 1-year low of $5.60 and a 1-year high of $12.45. The firm has a market capitalization of $489.03 million, a PE ratio of 4.47 and a beta of 1.56.

A number of research analysts have issued reports on PEI shares. Citigroup reduced their price target on Pennsylvania R.E.I.T. from $11.50 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, November 6th. Zacks Investment Research upgraded Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. ValuEngine upgraded Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a research report on Friday, October 26th. Boenning Scattergood started coverage on Pennsylvania R.E.I.T. in a research report on Thursday, December 20th. They set a “neutral” rating for the company. Finally, Barclays reiterated a “sell” rating and set a $6.00 price target on shares of Pennsylvania R.E.I.T. in a research report on Wednesday, January 16th. Four research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Pennsylvania R.E.I.T. presently has an average rating of “Hold” and an average price target of $8.90.

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About Pennsylvania R.E.I.T.

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.

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Dividend History for Pennsylvania R.E.I.T. (NYSE:PEI)

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