Pennsylvania Real Estate Investment Trust (PEI) Price Target Lowered to $11.50 at Stifel Nicolaus

Pennsylvania Real Estate Investment Trust (NYSE:PEI) had its price target dropped by stock analysts at Stifel Nicolaus from $12.00 to $11.50 in a report released on Thursday. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 15.93% from the company’s current price.

Several other equities research analysts have also commented on the stock. Zacks Investment Research raised shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Thursday, January 4th. ValuEngine lowered shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Goldman Sachs Group initiated coverage on shares of Pennsylvania Real Estate Investment Trust in a research note on Friday, January 19th. They set a “sell” rating and a $10.00 price objective on the stock. Citigroup dropped their price objective 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. Finally, Barclays reissued a “sell” rating and set a $10.00 price objective on shares of Pennsylvania Real Estate Investment Trust in a research note on Thursday, October 19th. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $12.36.

Shares of Pennsylvania Real Estate Investment Trust (NYSE PEI) opened at $9.92 on Thursday. The firm has a market cap of $698.39, a PE ratio of -8.00 and a beta of 1.24. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.91 and a current ratio of 1.91. Pennsylvania Real Estate Investment Trust has a 52 week low of $9.30 and a 52 week high of $17.68.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last announced its earnings results on Wednesday, February 14th. The real estate investment trust reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.47. The firm had revenue of $99.77 million for the quarter, compared to analyst estimates of $102.76 million. Pennsylvania Real Estate Investment Trust had a negative net margin of 16.35% and a negative return on equity of 7.60%. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 EPS. sell-side analysts forecast that Pennsylvania Real Estate Investment Trust will post 1.65 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of PEI. Public Employees Retirement System of Ohio raised its holdings in Pennsylvania Real Estate Investment Trust by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 83,543 shares of the real estate investment trust’s stock worth $946,000 after buying an additional 754 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Pennsylvania Real Estate Investment Trust by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 54,806 shares of the real estate investment trust’s stock worth $620,000 after buying an additional 1,341 shares during the last quarter. BlueCrest Capital Management Ltd raised its holdings in Pennsylvania Real Estate Investment Trust by 13.6% in the second quarter. BlueCrest Capital Management Ltd now owns 15,152 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 1,818 shares during the last quarter. Teachers Advisors LLC raised its holdings in Pennsylvania Real Estate Investment Trust by 2.3% in the second quarter. Teachers Advisors LLC now owns 120,660 shares of the real estate investment trust’s stock worth $1,366,000 after buying an additional 2,661 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in Pennsylvania Real Estate Investment Trust by 8.8% in the second quarter. Voya Investment Management LLC now owns 33,305 shares of the real estate investment trust’s stock worth $377,000 after buying an additional 2,696 shares during 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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