Pennsylvania Real Estate Investment Trust (PEI) Receives $12.17 Consensus PT from Analysts

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) have been assigned an average rating of “Hold” from the eleven research firms that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $12.17.

Several research firms have recently issued reports on PEI. Zacks Investment Research raised shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Wednesday, January 10th. Goldman Sachs Group began coverage on shares of Pennsylvania Real Estate Investment Trust in a research report on Friday. They set a “sell” rating and a $10.00 price objective for the company. ValuEngine raised shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Citigroup decreased their price objective on shares of Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating for the company in a research report on Friday, November 10th.

Pennsylvania Real Estate Investment Trust (NYSE PEI) traded up $0.20 during trading on Friday, hitting $12.10. 864,782 shares of the stock traded hands, compared to its average volume of 1,297,947. The stock has a market cap of $841.70, a PE ratio of -9.76 and a beta of 1.35. Pennsylvania Real Estate Investment Trust has a 1-year low of $9.32 and a 1-year high of $18.25. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.79.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The business had revenue of $89.20 million during the quarter, compared to analysts’ expectations of $98.85 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 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 EPS. sell-side analysts expect that Pennsylvania Real Estate Investment Trust will post 1.65 earnings per share for the current year.

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

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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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