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%.
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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