Pennsylvania Real Estate Investment Trust (NYSE:PEI) released its quarterly earnings data on Tuesday. The real estate investment trust reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02, Bloomberg Earnings reports. The firm had revenue of $89.25 million during the quarter, compared to the consensus estimate of $95.60 million. Pennsylvania Real Estate Investment Trust had a negative return on equity of 1.78% and a negative net margin of 3.49%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 earnings per share. Pennsylvania Real Estate Investment Trust updated its FY17 guidance to $1.66 – $1.72 EPS.

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) traded down 2.47% on Tuesday, hitting $11.84. The company had a trading volume of 1,235,415 shares. The firm’s 50 day moving average price is $11.54 and its 200-day moving average price is $13.84. Pennsylvania Real Estate Investment Trust has a 52 week low of $10.00 and a 52 week high of $25.43. The stock’s market capitalization is $825.73 million.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.84 annualized dividend and a dividend yield of 7.09%. Pennsylvania Real Estate Investment Trust’s payout ratio is -182.61%.

Several research firms have recently commented on PEI. BidaskClub upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Stifel Nicolaus began coverage on Pennsylvania Real Estate Investment Trust in a report on Friday, July 14th. They set a “hold” rating and a $11.50 price objective for the company. Zacks Investment Research downgraded Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. ValuEngine downgraded Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Boenning Scattergood downgraded Pennsylvania Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a report on Monday, May 15th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $16.70.

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In related news, Director John Joseph Roberts acquired 10,000 shares of Pennsylvania Real Estate Investment Trust stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average price of $10.76 per share, with a total value of $107,600.00. Following the transaction, the director now directly owns 33,060 shares in the company, valued at $355,725.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George J. Alburger, Jr. acquired 5,000 shares of Pennsylvania Real Estate Investment Trust stock in a transaction that occurred on Monday, June 12th. The shares were bought at an average cost of $11.78 per share, with a total value of $58,900.00. Following the transaction, the director now owns 5,000 shares in the company, valued at $58,900. The disclosure for this purchase can be found here. Insiders bought a total of 35,000 shares of company stock valued at $391,000 in the last three months. Corporate insiders own 4.40% of the company’s stock.

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).

Earnings History for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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