Pennsylvania Real Estate Investment Trust (PEI) PT Lowered to $12.00

Pennsylvania Real Estate Investment Trust (NYSE:PEI) had its price objective reduced by Citigroup from $12.50 to $12.00 in a research report report published on Friday, November 10th. They currently have a neutral rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Pennsylvania Real Estate Investment Trust from a buy rating to a hold rating in a research report on Friday, September 1st. Boenning Scattergood reissued a hold rating on shares of Pennsylvania Real Estate Investment Trust in a research report on Friday, November 3rd. Zacks Investment Research downgraded shares of Pennsylvania Real Estate Investment Trust from a hold rating to a sell rating in a research report on Friday, July 21st. Stifel Nicolaus started coverage on shares of Pennsylvania Real Estate Investment Trust in a research report on Friday, July 14th. They set a hold rating and a $11.50 price objective for the company. Finally, Barclays lowered their price objective on shares of Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an underweight rating for the company in a research report on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Pennsylvania Real Estate Investment Trust presently has a consensus rating of Hold and an average target price of $13.83.

Pennsylvania Real Estate Investment Trust (NYSE PEI) traded up $0.69 during trading hours on Friday, hitting $12.04. 2,572,500 shares of the company traded hands, compared to its average volume of 1,459,644. Pennsylvania Real Estate Investment Trust has a 1-year low of $9.32 and a 1-year high of $20.21. The firm has a market cap of $818.63, a price-to-earnings ratio of 6.47 and a beta of 1.28. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.91 and a quick ratio of 1.91.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last released its quarterly earnings results 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. 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 the consensus estimate of $98.85 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. equities research analysts forecast that Pennsylvania Real Estate Investment Trust will post 1.65 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date is Thursday, November 30th. Pennsylvania Real Estate Investment Trust’s payout ratio is -67.74%.

A number of institutional investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System boosted its stake in Pennsylvania Real Estate Investment Trust by 0.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 28,400 shares of the real estate investment trust’s stock valued at $321,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System boosted its stake in Pennsylvania Real Estate Investment Trust by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 36,413 shares of the real estate investment trust’s stock valued at $412,000 after purchasing an additional 200 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in Pennsylvania Real Estate Investment Trust by 3.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,400 shares of the real estate investment trust’s stock valued at $186,000 after purchasing an additional 550 shares during the period. Texas Permanent School Fund boosted its stake in Pennsylvania Real Estate Investment Trust by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 50,918 shares of the real estate investment trust’s stock valued at $576,000 after purchasing an additional 613 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Pennsylvania Real Estate Investment Trust by 0.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 83,543 shares of the real estate investment trust’s stock worth $946,000 after acquiring an additional 754 shares during the period. 98.97% of the stock is owned by hedge funds and other institutional investors.

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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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