Brokerages Anticipate Pennsylvania Real Estate Investment Trust (PEI) Will Announce Earnings of $0.48 Per Share

Wall Street brokerages expect Pennsylvania Real Estate Investment Trust (NYSE:PEI) to report earnings per share of $0.48 for the current quarter, according to Zacks. Three analysts have issued estimates for Pennsylvania Real Estate Investment Trust’s earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.48. Pennsylvania Real Estate Investment Trust reported earnings per share of $0.57 in the same quarter last year, which would suggest a negative year over year growth rate of 15.8%. The company is scheduled to issue its next earnings report after the market closes on Wednesday, February 14th.

On average, analysts expect that Pennsylvania Real Estate Investment Trust will report full year earnings of $1.65 per share for the current financial year, with EPS estimates ranging from $1.63 to $1.65. For the next financial year, analysts expect that the firm will report earnings of $1.71 per share, with EPS estimates ranging from $1.69 to $1.74. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Pennsylvania Real Estate Investment Trust.

A number of brokerages have recently issued reports on PEI. Zacks Investment Research upgraded shares of 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 report on Wednesday, January 10th. ValuEngine downgraded shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Goldman Sachs Group began coverage on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, January 19th. They issued a “sell” rating and a $10.00 price target for the company. 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 report on Friday, November 10th. Finally, Barclays reiterated a “sell” rating and issued a $10.00 price target on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 19th. Four analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $12.29.

Pennsylvania Real Estate Investment Trust (NYSE PEI) opened at $9.73 on Friday. The company has a market cap of $680.21, a price-to-earnings ratio of -7.85 and a beta of 1.23. 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 12-month low of $9.32 and a 12-month high of $18.12.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 11,487,090 shares of the real estate investment trust’s stock valued at $130,033,000 after purchasing an additional 130,986 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 1.6% in the 2nd quarter. BlackRock Inc. now owns 10,389,468 shares of the real estate investment trust’s stock valued at $117,609,000 after purchasing an additional 159,545 shares in the last quarter. State Street Corp grew its stake in 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. Northern Trust Corp grew its stake in Pennsylvania Real Estate Investment Trust by 2.8% in the 2nd quarter. Northern Trust Corp now owns 2,232,312 shares of the real estate investment trust’s stock valued at $25,270,000 after acquiring an additional 61,797 shares during the last quarter. Finally, Presima Inc. grew its stake in Pennsylvania Real Estate Investment Trust by 361.4% in the 3rd quarter. Presima Inc. now owns 2,059,300 shares of the real estate investment trust’s stock valued at $21,602,000 after acquiring an additional 1,613,000 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).

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

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