Pennsylvania R.E.I.T. (NYSE:PEI) declared a quarterly dividend on Friday, April 21st. Investors of record on Thursday, June 1st will be paid a dividend of 0.21 per share by the real estate investment trust on Thursday, June 15th. This represents a $0.84 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date is Tuesday, May 30th.
Pennsylvania R.E.I.T. has increased its dividend payment by an average of 4.3% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Pennsylvania R.E.I.T. has a payout ratio of 49.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Pennsylvania R.E.I.T. to earn $0.01 per share next year, which means the company may not be able to cover its $0.84 annual dividend with an expected future payout ratio of 8,400.0%.
Shares of Pennsylvania R.E.I.T. (NYSE:PEI) traded down 0.79% on Friday, reaching $15.16. 942,013 shares of the company were exchanged. The company’s market capitalization is $1.05 billion. Pennsylvania R.E.I.T. has a 52-week low of $13.76 and a 52-week high of $25.67. The stock has a 50 day moving average of $14.91 and a 200-day moving average of $18.05.
Pennsylvania R.E.I.T. (NYSE:PEI) last announced its quarterly earnings data on Thursday, February 23rd. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.42. The business had revenue of $104.86 million for the quarter, compared to the consensus estimate of $63.37 million. Pennsylvania R.E.I.T. had a negative net margin of 6.65% and a negative return on equity of 3.62%. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 earnings per share. On average, analysts predict that Pennsylvania R.E.I.T. will post ($0.11) EPS for the current fiscal year.
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Several equities analysts recently issued reports on PEI shares. TheStreet downgraded shares of Pennsylvania R.E.I.T. from a “c-” rating to a “d+” rating in a research note on Friday, March 24th. JPMorgan Chase & Co. reduced their price objective on shares of Pennsylvania R.E.I.T. from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 22nd. Barclays PLC reissued an “underweight” rating and set a $16.00 price objective (down previously from $20.00) on shares of Pennsylvania R.E.I.T. in a research note on Monday, January 23rd. Finally, SunTrust Banks, Inc. downgraded shares of Pennsylvania R.E.I.T. from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a research note on Thursday, January 19th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Pennsylvania R.E.I.T. presently has a consensus rating of “Hold” and a consensus price target of $18.80.
Pennsylvania R.E.I.T. 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).
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