Wall Street brokerages expect Pennsylvania Real Estate Investment Trust (NYSE:PEI) to post $101.37 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Pennsylvania Real Estate Investment Trust’s earnings, with estimates ranging from $92.43 million to $113.42 million. Pennsylvania Real Estate Investment Trust posted sales of $102.95 million in the same quarter last year, which would indicate a negative year over year growth rate of 1.5%. The company is expected to report its next earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Pennsylvania Real Estate Investment Trust will report full year sales of $101.37 million for the current year, with estimates ranging from $346.71 million to $417.52 million. For the next financial year, analysts expect that the firm will report sales of $391.85 million per share, with estimates ranging from $365.27 million to $427.39 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Pennsylvania Real Estate Investment Trust.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. The firm had revenue of $89.20 million for the quarter, compared to the consensus estimate 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 business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 earnings per share.

PEI has been the topic of several recent research reports. Stifel Nicolaus restated a “hold” rating and set a $11.00 target price on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, October 12th. Mitsubishi UFJ Financial Group downgraded Pennsylvania Real Estate Investment Trust from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $12.00 in a research report on Thursday, August 24th. Citigroup dropped their target price on Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, November 10th. Barclays restated a “sell” rating and set a $10.00 target price on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, October 19th. Finally, Boenning Scattergood restated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $13.83.

Shares of Pennsylvania Real Estate Investment Trust (PEI) opened at $10.78 on Monday. The stock has a market capitalization of $753.62, a price-to-earnings ratio of 6.23 and a beta of 1.34. Pennsylvania Real Estate Investment Trust has a 12-month low of $9.32 and a 12-month high of $20.21. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.79.

The company also recently declared 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. The ex-dividend date is Thursday, November 30th. This represents a $0.84 annualized dividend and a dividend yield of 7.79%. Pennsylvania Real Estate Investment Trust’s payout ratio is currently -67.74%.

Institutional investors have recently added to or reduced their stakes in the company. RMR Advisors LLC increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 15.7% in the third quarter. RMR Advisors LLC now owns 147,628 shares of the real estate investment trust’s stock worth $1,549,000 after purchasing an additional 20,000 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 16.6% in the second quarter. JPMorgan Chase & Co. now owns 920,121 shares of the real estate investment trust’s stock worth $10,416,000 after purchasing an additional 131,067 shares during the period. Dupont Capital Management Corp increased its holdings in shares of 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 worth $133,000 after purchasing an additional 5,117 shares during the period. Westpac Banking Corp increased its holdings in shares of 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 worth $3,457,000 after purchasing an additional 78,462 shares during the period. Finally, King Street Capital Management L.P. bought a new position in shares of Pennsylvania Real Estate Investment Trust in the second quarter worth $5,660,000. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

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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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