Pennsylvania Real Estate Investment Trust (PEI) Receives New Coverage from Analysts at Goldman Sachs Group

Stock analysts at Goldman Sachs Group started coverage on shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) in a research report issued on Friday, Marketbeat.com reports. The firm set a “sell” rating and a $10.00 price target on the real estate investment trust’s stock. Goldman Sachs Group’s price target suggests a potential downside of 14.75% from the company’s previous close.

A number of other research firms have also recently commented on PEI. Citigroup cut their price target on shares of 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. Boenning Scattergood reissued a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research note on Friday, November 3rd. Stifel Nicolaus reissued a “hold” rating and issued a $11.00 price target on shares of Pennsylvania Real Estate Investment Trust in a research note on Thursday, October 12th. ValuEngine raised shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Zacks Investment Research cut shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Four investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $12.29.

Pennsylvania Real Estate Investment Trust (NYSE PEI) traded up $0.28 during mid-day trading on Friday, reaching $11.73. 1,452,274 shares of the company’s stock were exchanged, compared to its average volume of 996,141. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.79. Pennsylvania Real Estate Investment Trust has a fifty-two week low of $9.32 and a fifty-two week high of $18.26. The stock has a market cap of $800.46, a PE ratio of -9.46 and a beta of 1.35.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last released its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. Pennsylvania Real Estate Investment Trust had a negative net margin of 16.35% and a negative return on equity of 7.60%. The business had revenue of $89.20 million during the quarter, compared to analysts’ expectations of $98.85 million. During the same quarter in the previous year, the company earned $0.48 EPS. The business’s quarterly 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 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new stake in shares of Pennsylvania Real Estate Investment Trust in the 4th quarter worth approximately $139,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Pennsylvania Real Estate Investment Trust by 12.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,063,416 shares of the real estate investment trust’s stock worth $12,645,000 after acquiring an additional 119,781 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Pennsylvania Real Estate Investment Trust by 72.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 60,400 shares of the real estate investment trust’s stock worth $718,000 after acquiring an additional 25,400 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Pennsylvania Real Estate Investment Trust by 12.6% in the 3rd quarter. California Public Employees Retirement System now owns 206,566 shares of the real estate investment trust’s stock worth $2,167,000 after acquiring an additional 23,132 shares during the last quarter. Finally, Kalos Management Inc. lifted its holdings in shares of Pennsylvania Real Estate Investment Trust by 25.1% in the 3rd quarter. Kalos Management Inc. now owns 66,182 shares of the real estate investment trust’s stock worth $694,000 after acquiring an additional 13,287 shares during the last quarter.

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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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