Pretty sure visitors are only a part of the page rank algorithm. From what I understand the link juice passed on to your websites from other high ranking PR sites through backlinks are what give your site authority. Check your backlinks between the two sites and see what page rank is being passed on through Do-Follow links. Building HQ Backlinks with PR Do-Follow sites will help when it comes time to analyze your PR.
It could also be your site hasn't passed through Google's page rank update yet.
Also, there tends to be a poor correlation between your site's value and page rank at the pr 0-2 levels in my opinion. In addition, you could be in between ranks or it's just not updated (very likely).
Like what the other guys said, don't even worry about PR and instead focus on monetizing your 300-400 visitors!
I had a PR3 site doing 8-10 uniques/day.
One day, after a Google update, it went down to PR2. From that day, it had 85-90 uniques/day.
Last update, about a month ago or so, it went PR1 but since, it generates 300-350 uniques/day.
I can't wait to have it PR0. I might get 1,000 unique/day
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