Pennsylvania Real Estate Investment Trust (NYSE:PEI) had its target price lowered by stock analysts at Barclays PLC from $12.00 to $11.00 in a research report issued to clients and investors on Tuesday. The firm presently has an “underweight” rating on the real estate investment trust’s stock. Barclays PLC’s target price suggests a potential upside of 2.52% from the stock’s previous close.

PEI has been the subject of a number of other reports. Boenning Scattergood lowered Pennsylvania Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a research report on Monday, May 15th. BidaskClub upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research downgraded Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. ValuEngine downgraded Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Stifel Nicolaus initiated coverage on Pennsylvania Real Estate Investment Trust in a research note on Friday, July 14th. They issued a “hold” rating and a $11.50 price objective for the company. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $15.50.

Shares of Pennsylvania Real Estate Investment Trust (NYSE PEI) traded down 4.62% during trading on Tuesday, hitting $10.73. 1,957,397 shares of the stock traded hands. The firm’s market cap is $749.24 million. Pennsylvania Real Estate Investment Trust has a 52 week low of $10.00 and a 52 week high of $25.43. The company has a 50-day moving average of $11.66 and a 200-day moving average of $13.49.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last released its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $89.25 million during the quarter, compared to analyst estimates of $95.60 million. Pennsylvania Real Estate Investment Trust had a negative return on equity of 9.06% and a negative net margin of 18.13%. Pennsylvania Real Estate Investment Trust’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 EPS. On average, analysts forecast that Pennsylvania Real Estate Investment Trust will post ($0.17) EPS for the current fiscal year.

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In other Pennsylvania Real Estate Investment Trust news, CEO Joseph F. Coradino acquired 10,000 shares of Pennsylvania Real Estate Investment Trust stock in a transaction on Tuesday, June 13th. The stock was purchased at an average price of $11.57 per share, for a total transaction of $115,700.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director George J. Alburger, Jr. acquired 5,000 shares of Pennsylvania Real Estate Investment Trust stock in a transaction on Monday, June 12th. The stock was acquired at an average price of $11.78 per share, with a total value of $58,900.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $58,900. The disclosure for this purchase can be found here. Insiders acquired a total of 35,000 shares of company stock valued at $391,000 in the last 90 days. Corporate insiders own 4.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in PEI. Ameriprise Financial Inc. increased its position in Pennsylvania Real Estate Investment Trust by 1.5% in the first quarter. Ameriprise Financial Inc. now owns 393,917 shares of the real estate investment trust’s stock valued at $5,964,000 after buying an additional 5,974 shares during the last quarter. Stephens Inc. AR increased its position in Pennsylvania Real Estate Investment Trust by 9.7% in the first quarter. Stephens Inc. AR now owns 123,059 shares of the real estate investment trust’s stock valued at $1,863,000 after buying an additional 10,865 shares during the last quarter. Bank of America Corp DE increased its position in Pennsylvania Real Estate Investment Trust by 92.2% in the first quarter. Bank of America Corp DE now owns 530,229 shares of the real estate investment trust’s stock valued at $8,028,000 after buying an additional 254,310 shares during the last quarter. Norges Bank purchased a new position in Pennsylvania Real Estate Investment Trust during the fourth quarter valued at $13,393,000. Finally, State of Alaska Department of Revenue increased its position in Pennsylvania Real Estate Investment Trust by 35.6% in the first quarter. State of Alaska Department of Revenue now owns 80,440 shares of the real estate investment trust’s stock valued at $1,217,000 after buying an additional 21,140 shares during the last quarter. Hedge funds and other institutional investors own 97.76% 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).

Analyst Recommendations for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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