Pennsylvania Real Estate Investment Trust (PEI) Given Consensus Rating of “Hold” by Analysts

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) have received a consensus rating of “Hold” from the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $12.17.

Several brokerages have issued reports on PEI. Goldman Sachs Group began coverage on Pennsylvania Real Estate Investment Trust in a research note on Friday. They set a “sell” rating and a $10.00 price target for the company. Zacks Investment Research raised Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Wednesday, January 10th. ValuEngine raised Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Citigroup dropped their price target on Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating for the company in a research note on Friday, November 10th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. King Street Capital Management L.P. lifted its stake in shares of Pennsylvania Real Estate Investment Trust by 240.0% in the 3rd quarter. King Street Capital Management L.P. now owns 1,700,000 shares of the real estate investment trust’s stock valued at $17,833,000 after acquiring an additional 1,200,000 shares during the last quarter. RMR Advisors LLC lifted its stake in shares of Pennsylvania Real Estate Investment Trust by 15.7% in the 3rd quarter. RMR Advisors LLC now owns 147,628 shares of the real estate investment trust’s stock valued at $1,549,000 after acquiring an additional 20,000 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Pennsylvania Real Estate Investment Trust by 16.6% in the 2nd 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 during the last quarter. Stevens Capital Management LP lifted its stake in shares of Pennsylvania Real Estate Investment Trust by 33.8% in the 3rd quarter. Stevens Capital Management LP now owns 116,415 shares of the real estate investment trust’s stock valued at $1,221,000 after acquiring an additional 29,396 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Pennsylvania Real Estate Investment Trust by 2.3% in the 2nd quarter. State Street Corp now owns 2,683,266 shares of the real estate investment trust’s stock valued at $30,370,000 after acquiring an additional 60,384 shares during the last quarter.

Shares of Pennsylvania Real Estate Investment Trust (PEI) opened at $11.73 on Friday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.91 and a current ratio of 1.91. Pennsylvania Real Estate Investment Trust has a 52 week low of $9.32 and a 52 week high of $18.26. The stock has a market capitalization of $820.03, a PE ratio of -9.46 and a beta of 1.35.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its quarterly earnings results 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. Pennsylvania Real Estate Investment Trust had a negative return on equity of 7.60% and a negative net margin of 16.35%. The firm had revenue of $89.20 million during the quarter, compared to analyst estimates of $98.85 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue was down 9.8% compared to the same quarter last year. sell-side analysts forecast that Pennsylvania Real Estate Investment Trust will post 1.64 EPS for the current year.

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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).

Analyst Recommendations for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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