Wall Street brokerages forecast that Pennsylvania Real Estate Investment Trust (NYSE:PEI) will announce earnings per share (EPS) of $0.49 for the current quarter, Zacks reports. Four analysts have made estimates for Pennsylvania Real Estate Investment Trust’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.50. Pennsylvania Real Estate Investment Trust reported earnings of ($0.40) per share during the same quarter last year, which would indicate a positive year over year growth rate of 222.5%. The firm is expected to announce its next earnings results on Thursday, February 22nd.

According to Zacks, 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 $1.63 to $1.65. For the next fiscal year, analysts anticipate that the company will post earnings of $1.73 per share, with EPS estimates ranging from $1.69 to $1.81. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Pennsylvania Real Estate Investment Trust.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The business had revenue of $89.20 million for the quarter, compared to analysts’ expectations of $98.85 million. Pennsylvania Real Estate Investment Trust had a negative return on equity of 7.60% and a negative net margin of 16.35%. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 EPS.

A number of research firms have weighed in on PEI. ValuEngine lowered Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Boenning Scattergood reiterated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research note on Friday, November 3rd. Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Stifel Nicolaus set a $11.00 price target on Pennsylvania Real Estate Investment Trust and gave the stock a “hold” rating in a research report on Sunday, September 10th. Finally, Barclays PLC dropped 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $13.83.

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in Pennsylvania Real Estate Investment Trust by 16.6% during the second quarter. JPMorgan Chase & Co. now owns 920,121 shares of the real estate investment trust’s stock valued at $10,416,000 after acquiring an additional 131,067 shares in the last quarter. Bank of America Corp DE grew its holdings 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 purchasing an additional 254,310 shares during the period. Dupont Capital Management Corp grew its holdings in Pennsylvania Real Estate Investment Trust by 77.4% in the second quarter. Dupont Capital Management Corp now owns 11,727 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 5,117 shares during the period. Westpac Banking Corp grew its holdings in Pennsylvania Real Estate Investment Trust by 34.6% in the second quarter. Westpac Banking Corp now owns 305,422 shares of the real estate investment trust’s stock valued at $3,457,000 after purchasing an additional 78,462 shares during the period. Finally, King Street Capital Management L.P. acquired a new stake in Pennsylvania Real Estate Investment Trust in the second quarter valued at approximately $5,660,000. Institutional investors own 99.35% of the company’s stock.

Pennsylvania Real Estate Investment Trust (NYSE PEI) traded down $0.34 during trading hours on Tuesday, reaching $10.80. The company had a trading volume of 1,802,300 shares, compared to its average volume of 1,463,245. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.79. Pennsylvania Real Estate Investment Trust has a one year low of $9.32 and a one year high of $20.58. The stock has a market cap of $778.79, a price-to-earnings ratio of 6.44 and a beta of 1.29.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 7.78%. The ex-dividend date is Thursday, November 30th. Pennsylvania Real Estate Investment Trust’s dividend payout ratio is currently -67.74%.

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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).

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

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