Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) have received a consensus rating of “Hold” from the eleven analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $14.08.

Several research analysts have weighed in on the company. Zacks Investment Research raised Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. ValuEngine lowered Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Stifel Nicolaus assumed coverage on Pennsylvania Real Estate Investment Trust in a research report on Friday, July 14th. They set a “hold” rating and a $11.50 price target on the stock. Boenning Scattergood reaffirmed a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, August 10th. Finally, Barclays PLC lowered their price target on Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 15th.

Hedge funds have recently bought and sold shares of the stock. Independence Advisors LLC acquired a new position in shares of Pennsylvania Real Estate Investment Trust during the 2nd quarter worth approximately $1,390,000. Dupont Capital Management Corp increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 77.4% during 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. BlueCrest Capital Management Ltd acquired a new position in shares of Pennsylvania Real Estate Investment Trust during the 1st quarter worth approximately $202,000. SG Americas Securities LLC increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 46.3% during 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. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Pennsylvania Real Estate Investment Trust during the 2nd quarter worth approximately $171,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Pennsylvania Real Estate Investment Trust (PEI) opened at 10.80 on Thursday. The firm’s 50-day moving average price is $10.42 and its 200-day moving average price is $11.76. The company’s market cap is $754.13 million. Pennsylvania Real Estate Investment Trust has a 12 month low of $9.75 and a 12 month high of $21.85.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last posted its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The firm had revenue of $89.25 million for 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%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 EPS. Equities analysts predict that Pennsylvania Real Estate Investment Trust will post ($0.76) EPS for the current fiscal year.

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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