Pennsylvania Real Estate Investment Trust (NYSE:PEI) – Boenning Scattergood boosted their FY2017 earnings per share estimates for Pennsylvania Real Estate Investment Trust in a research report issued on Wednesday. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the real estate investment trust will post earnings per share of $1.68 for the year, up from their prior estimate of $1.67. Boenning Scattergood has a “Hold” rating on the stock.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus initiated coverage on Pennsylvania Real Estate Investment Trust in a report on Friday, July 14th. They set a “hold” rating and a $11.50 price target for the company. BidaskClub upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. ValuEngine downgraded Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Mitsubishi UFJ Financial Group downgraded Pennsylvania Real Estate Investment Trust from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $16.00 to $12.00 in a report on Thursday, August 24th. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $15.00.

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Pennsylvania Real Estate Investment Trust (NYSE:PEI) opened at 10.19 on Friday. The firm’s market cap is $711.54 million. The stock has a 50 day moving average of $11.05 and a 200 day moving average of $12.63. Pennsylvania Real Estate Investment Trust has a 52 week low of $9.75 and a 52 week high of $24.74.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The firm had revenue of $89.25 million for the quarter, compared to the consensus estimate of $95.60 million. Pennsylvania Real Estate Investment Trust had a negative net margin of 18.13% and a negative return on equity of 9.06%. Pennsylvania Real Estate Investment Trust’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the firm posted $0.43 EPS.

In related news, CFO Robert F. Mccadden acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The shares were acquired at an average price of $10.88 per share, with a total value of $108,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director George J. Alburger, Jr. acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were bought at an average cost of $11.78 per share, for a total transaction of $58,900.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $58,900. The disclosure for this purchase can be found here. Insiders have bought a total of 25,000 shares of company stock worth $283,400 in the last ninety days. 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. Mckinley Capital Management LLC Delaware bought a new position in Pennsylvania Real Estate Investment Trust in the 1st quarter worth about $132,000. Dupont Capital Management Corp increased its stake in Pennsylvania Real Estate Investment Trust by 77.4% in the 2nd quarter. Dupont Capital Management Corp now owns 11,727 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 5,117 shares during the last quarter. SG Americas Securities LLC increased its stake in 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 worth $165,000 after acquiring an additional 4,624 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Pennsylvania Real Estate Investment Trust in the 2nd quarter worth about $171,000. Finally, BlueCrest Capital Management Ltd increased its stake in 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 worth $172,000 after acquiring an additional 1,818 shares during the last quarter. Institutional investors and hedge funds own 99.29% of the company’s stock.

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).

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

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