Pennsylvania R.E.I.T. (PEI) Releases FY14 Earnings Guidance
Pennsylvania R.E.I.T. (NYSE:PEI) issued an update on its FY14 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.86-1.89 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.98, AmericanBankingNews.com reports.
Shares of Pennsylvania R.E.I.T. (NYSE:PEI) remained flat at $19.06 during trading on Tuesday. 362,734 shares of the company’s stock traded hands. Pennsylvania R.E.I.T. has a 52-week low of $16.35 and a 52-week high of $21.52. The stock has a 50-day moving average of $18.60 and a 200-day moving average of $18.19. The company’s market cap is $1.310 billion.
Pennsylvania R.E.I.T. (NYSE:PEI) last released its earnings data on Tuesday, July 29th. The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.46 by $0.01. The company had revenue of $106.83 million for the quarter, compared to the consensus estimate of $72.44 million. During the same quarter last year, the company posted $0.42 earnings per share. Pennsylvania R.E.I.T.’s revenue was up 1.8% compared to the same quarter last year. Analysts expect that Pennsylvania R.E.I.T. will post $1.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Thursday, August 28th.
A number of analysts have recently weighed in on PEI shares. Analysts at Barclays reiterated an equal weight rating on shares of Pennsylvania R.E.I.T. in a research note on Monday, July 21st. They now have a $19.00 price target on the stock, up previously from $18.00. Analysts at Citigroup Inc. reiterated a neutral rating on shares of Pennsylvania R.E.I.T. in a research note on Monday, July 21st. They now have a $20.00 price target on the stock, up previously from $18.00. Five investment analysts have rated the stock with a hold rating, The stock has an average rating of Hold and an average target price of $20.43.
Pennsylvania Real Estate Investment Trust (NYSE:PEI) is a fully integrated, self-managed and self-administered real estate investment trust (REIT).
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