What’s up with Pennsylvania real estate? The Pennsylvania Real Estate Investment Trust PEI looks hot with large players volume rising. The REIT pays an annual dividend of 7.22 percent. We also have insiders buying in May and June.
Stifel resumed coverage on the REIT with a Hold rating. Analyst Simon Yarmak says the NAV estimate is $17. What may be going on here is value investors playing the discount to NAV.
Pennsylvania Real Estate Investment Trust Stock Chart
That’s a good looking chart. We had a pocket pivot (blue dot) signal today which is bullish. There’s a very good looking positive divergence on the large players volume. There is also a positive diverge on the Twiggs Money Flow.
The Pennsylvania Real Estate Investment Trust has been consolidating lately forming a momentum squeeze.
There is a resistance zone just above the current price starting at 11.83. Right above this resistance zone may be a good entry point.
Pennsylvania Real Estate Investment Trust Review
Pennsylvania Real Estate Investment Trust is a publicly owned equity real estate investment trust. The firm manages owns, manages, develops, acquires, and leases mall and power and strip centers primarily in the Eastern United States. It also provides management, leasing, and development services to affiliate and third party property owners. Pennsylvania Real Estate Investment Trust was founded in 1960 and is based in Philadelphia, Pennsylvania.