Pennsylvania Real Estate Investment Trust (PEI) Issues Earnings Results, Beats Estimates By $0.47 EPS

Pennsylvania Real Estate Investment Trust (NYSE:PEI) released its quarterly earnings results on Wednesday. The real estate investment trust reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.47, Bloomberg Earnings reports. Pennsylvania Real Estate Investment Trust had a negative return on equity of 7.60% and a negative net margin of 16.35%. The company had revenue of $99.77 million for the quarter, compared to analysts’ expectations of $102.76 million. During the same period in the prior year, the firm earned $0.57 earnings per share. The firm’s revenue was down 4.9% compared to the same quarter last year. Pennsylvania Real Estate Investment Trust updated its FY18 guidance to $1.50-1.60 EPS.

Shares of Pennsylvania Real Estate Investment Trust (NYSE PEI) traded down $0.07 during trading hours on Wednesday, reaching $9.92. 1,056,076 shares of the company were exchanged, compared to its average volume of 1,233,490. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a market capitalization of $713.07, a P/E ratio of -8.00 and a beta of 1.24. Pennsylvania Real Estate Investment Trust has a 1 year low of $9.30 and a 1 year high of $17.68.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a $0.21 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 8.47%. Pennsylvania Real Estate Investment Trust’s payout ratio is currently -67.74%.

A number of analysts have recently weighed in on 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 objective on the stock in a research report on Wednesday, January 10th. Barclays reaffirmed a “sell” rating and set a $10.00 price objective on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 19th. ValuEngine downgraded shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Boenning Scattergood reiterated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research note on Friday, November 3rd. Finally, Citigroup decreased their target price 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. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $12.29.

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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).

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

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