Zacks Investment Research Downgrades Pennsylvania Real Estate Investment Trust (PEI) to Hold

Zacks Investment Research downgraded shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) from a buy rating to a hold rating in a research note issued to investors on Friday, January 5th.

According to Zacks, “PENNSYLVANIA R.E. INVEST. TR. is a real estate investment trust, engaged in acquiring and holding for investment interests in real estate. “

Several other analysts have also recently issued reports on the company. Boenning Scattergood reiterated a hold rating on shares of Pennsylvania Real Estate Investment Trust in a research report on Friday, November 3rd. Stifel Nicolaus set a $11.00 target price on Pennsylvania Real Estate Investment Trust and gave the stock a hold rating in a research report on Sunday, September 10th. ValuEngine upgraded Pennsylvania Real Estate Investment Trust from a hold rating to a buy rating in a research report on Monday, October 2nd. Barclays reiterated a sell rating and set a $10.00 target price on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, October 19th. Finally, Citigroup cut their target price on 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. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Pennsylvania Real Estate Investment Trust currently has a consensus rating of Hold and a consensus target price of $12.29.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) remained flat at $$11.72 during mid-day trading on Friday. 710,364 shares of the stock were exchanged, compared to its average volume of 1,158,640. 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 company has a market cap of $819.33, a P/E ratio of -9.45 and a beta of 1.35. Pennsylvania Real Estate Investment Trust has a 12-month low of $9.32 and a 12-month high of $18.19.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 7.60% and a negative net margin of 16.35%. The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 earnings per share. equities analysts predict that Pennsylvania Real Estate Investment Trust will post 1.65 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEI. Fox Run Management L.L.C. purchased a new position in Pennsylvania Real Estate Investment Trust during the 4th quarter valued at approximately $139,000. Crossmark Global Holdings Inc. bought a new stake in shares of Pennsylvania Real Estate Investment Trust in the 3rd quarter valued at approximately $146,000. SG Americas Securities LLC lifted its stake in shares of Pennsylvania Real Estate Investment Trust by 46.3% in the 2nd quarter. SG Americas Securities LLC now owns 14,618 shares of the real estate investment trust’s stock valued at $165,000 after purchasing an additional 4,624 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Pennsylvania Real Estate Investment Trust in the 2nd quarter valued at approximately $171,000. Finally, BlueCrest Capital Management Ltd lifted its stake in shares of Pennsylvania Real Estate Investment Trust by 13.6% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 15,152 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 1,818 shares during the last quarter.

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About Pennsylvania Real Estate Investment Trust

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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