🔴 Pershing Square is trading 4.1% down today after Citi's Sell downgrade over valuation concerns

Pershing Square is trading 4.06% down at $52.13 after Citi Research downgraded the shares to Sell/High Risk from Neutral/High Risk, citing valuation concerns.

• The downgrade was issued October 9; shares were reported 2.10% lower at $53.20 in premarket trading.
• October 9 is also the ex-dividend date for the company’s $0.103 quarterly dividend. Available reporting does not establish how much it contributed to the current decline.