Pennsylvania Real Estate Investment Trust (NYSE:PEI) released its earnings results on Wednesday. The real estate investment trust reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01, Bloomberg Earnings reports. The firm had revenue of $89.20 million during the quarter, compared to analysts’ expectations of $98.85 million. Pennsylvania Real Estate Investment Trust had a negative net margin of 18.13% and a negative return on equity of 9.06%. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. Pennsylvania Real Estate Investment Trust updated its FY17 guidance to $1.62-1.67 EPS.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 8.32%. The ex-dividend date is Thursday, November 30th. Pennsylvania Real Estate Investment Trust’s payout ratio is -64.12%.

ILLEGAL ACTIVITY WARNING: “Pennsylvania Real Estate Investment Trust (PEI) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS” was first published by American Banking News and is owned by of American Banking News. If you are accessing this news story on another site, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/11/01/pennsylvania-real-estate-investment-trust-pei-announces-earnings-results.html.

Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Friday. ValuEngine lowered shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Stifel Nicolaus assumed coverage on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, July 14th. They issued a “hold” rating and a $11.50 price target on the stock. Barclays PLC lowered their price target on shares of Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Tuesday, August 15th. Finally, BidaskClub raised shares of Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $13.92.

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)

Receive News & Ratings for Pennsylvania Real Estate Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennsylvania Real Estate Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.