Pennsylvania Real Estate Investment Trust (PEI) Now Covered by Goldman Sachs Group

Equities researchers at Goldman Sachs Group assumed coverage on shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) in a report released on Friday. The brokerage set a “sell” rating and a $10.00 price target on the real estate investment trust’s stock. Goldman Sachs Group’s price objective suggests a potential downside of 12.66% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus restated a “hold” rating and set a $11.00 target price on shares of Pennsylvania Real Estate Investment Trust in a research note on Thursday, October 12th. ValuEngine cut shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Citigroup decreased their target price on shares of Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, November 10th. Zacks Investment Research upgraded shares of Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Saturday, October 28th. Finally, Barclays restated a “sell” rating and set a $10.00 target price on shares of Pennsylvania Real Estate Investment Trust in a research note on Thursday, October 19th. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $13.25.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) opened at $11.45 on Friday. Pennsylvania Real Estate Investment Trust has a one year low of $9.32 and a one year high of $18.30. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.79. The firm has a market cap of $800.46, a P/E ratio of -9.23 and a beta of 1.35.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Pennsylvania Real Estate Investment Trust had a negative net margin of 16.35% and a negative return on equity of 7.60%. The firm had revenue of $89.20 million for the quarter, compared to analysts’ expectations of $98.85 million. During the same quarter in the prior year, the business earned $0.48 EPS. The business’s quarterly revenue was down 9.8% on a year-over-year basis. research analysts expect that Pennsylvania Real Estate Investment Trust will post 1.64 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Pennsylvania Real Estate Investment Trust by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 11,487,090 shares of the real estate investment trust’s stock valued at $130,033,000 after buying an additional 130,986 shares in the last quarter. BlackRock Inc. grew its holdings in Pennsylvania Real Estate Investment Trust by 1.6% during the 2nd quarter. BlackRock Inc. now owns 10,389,468 shares of the real estate investment trust’s stock valued at $117,609,000 after buying an additional 159,545 shares in the last quarter. State Street Corp grew its holdings in Pennsylvania Real Estate Investment Trust by 2.3% during the 2nd quarter. State Street Corp now owns 2,683,266 shares of the real estate investment trust’s stock valued at $30,370,000 after buying an additional 60,384 shares in the last quarter. Northern Trust Corp grew its holdings in Pennsylvania Real Estate Investment Trust by 2.8% during the 2nd quarter. Northern Trust Corp now owns 2,232,312 shares of the real estate investment trust’s stock valued at $25,270,000 after buying an additional 61,797 shares in the last quarter. Finally, Presima Inc. grew its holdings in Pennsylvania Real Estate Investment Trust by 361.4% during the 3rd quarter. Presima Inc. now owns 2,059,300 shares of the real estate investment trust’s stock valued at $21,602,000 after buying an additional 1,613,000 shares in the last quarter.

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Pennsylvania Real Estate Investment Trust Company Profile

Pennsylvania Real Estate Investment Trust (PREIT) is a self-managed and self-administered real estate investment trust (REIT). The Company’s primary business is owning and operating retail shopping malls, which it does primarily through operating partnership, PREIT Associates, L.P. (PREIT Associates).

Analyst Recommendations for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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