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.
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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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