Analysts forecast that Pennsylvania Real Estate Investment Trust (NYSE:PEI) will post earnings of $0.41 per share for the current quarter, Zacks reports. Four analysts have made estimates for Pennsylvania Real Estate Investment Trust’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.38. Pennsylvania Real Estate Investment Trust reported earnings per share of ($0.02) during the same quarter last year, which suggests a positive year over year growth rate of 2,150%. The business is scheduled to report its next earnings report after the market closes on Wednesday, November 1st.

On average, analysts expect that Pennsylvania Real Estate Investment Trust will report full year earnings of $1.65 per share for the current year, with EPS estimates ranging from $1.61 to $1.68. For the next fiscal year, analysts anticipate that the business will report earnings of $1.74 per share, with EPS estimates ranging from $1.69 to $1.86. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Pennsylvania Real Estate Investment Trust.

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

A number of equities analysts recently weighed in on PEI shares. Zacks Investment Research lowered shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Stifel Nicolaus started coverage on shares of Pennsylvania Real Estate Investment Trust in a research note on Friday, July 14th. They issued a “hold” rating and a $11.50 target price for the company. BidaskClub raised shares of Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Boenning Scattergood reaffirmed a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research note on Thursday, August 10th. Finally, Citigroup Inc. reduced their target price on shares of Pennsylvania Real Estate Investment Trust from $13.50 to $12.50 and set a “neutral” rating for the company in a research note on Monday, August 14th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.92.

A number of large investors have recently modified their holdings of PEI. BlackRock Inc. lifted its position in Pennsylvania Real Estate Investment Trust by 10,081.1% during the 1st quarter. BlackRock Inc. now owns 10,229,923 shares of the real estate investment trust’s stock worth $154,881,000 after buying an additional 10,129,443 shares in the last quarter. Morgan Stanley lifted its position in Pennsylvania Real Estate Investment Trust by 667.8% during the 1st quarter. Morgan Stanley now owns 2,186,212 shares of the real estate investment trust’s stock worth $33,099,000 after buying an additional 1,901,460 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD lifted its position in Pennsylvania Real Estate Investment Trust by 1,627.5% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 679,272 shares of the real estate investment trust’s stock worth $7,689,000 after buying an additional 639,951 shares in the last quarter. Balyasny Asset Management LLC lifted its position in Pennsylvania Real Estate Investment Trust by 66.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,561,440 shares of the real estate investment trust’s stock worth $17,676,000 after buying an additional 623,301 shares in the last quarter. Finally, King Street Capital Management L.P. bought a new stake in Pennsylvania Real Estate Investment Trust during the 2nd quarter worth about $5,660,000. 97.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) traded down 0.68% during mid-day trading on Tuesday, hitting $10.19. The company had a trading volume of 1,035,864 shares. The company’s market capitalization is $711.54 million. Pennsylvania Real Estate Investment Trust has a one year low of $9.75 and a one year high of $20.85. The firm’s 50-day moving average price is $10.47 and its 200 day moving average price is $11.46.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.84 annualized dividend and a yield of 8.24%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -64.12%.

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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).

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

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