Pennsylvania Real Estate Investment Trust (PEI) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) have been given an average rating of “Hold” by the eleven research firms that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $12.17.

A number of research analysts have commented on the stock. Zacks Investment Research raised shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Thursday, January 4th. ValuEngine downgraded shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Goldman Sachs Group began coverage on shares of Pennsylvania Real Estate Investment Trust in a research report on Friday, January 19th. They issued a “sell” rating and a $10.00 price objective on the stock. Citigroup cut their price objective on shares of Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, November 10th. Finally, Barclays reaffirmed a “sell” rating and issued a $10.00 price objective on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, October 19th.

Pennsylvania Real Estate Investment Trust (PEI) opened at $9.99 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.79. The company has a market cap of $713.07, a PE ratio of -8.06 and a beta of 1.23. Pennsylvania Real Estate Investment Trust has a 12-month low of $9.30 and a 12-month high of $17.94.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.41%. The ex-dividend date of this dividend is Wednesday, February 28th. Pennsylvania Real Estate Investment Trust’s payout ratio is currently -67.74%.

Several institutional investors have recently modified their holdings of PEI. Teachers Advisors LLC grew its position in shares of Pennsylvania Real Estate Investment Trust by 2.3% in the 2nd quarter. Teachers Advisors LLC now owns 120,660 shares of the real estate investment trust’s stock worth $1,366,000 after buying an additional 2,661 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in shares of Pennsylvania Real Estate Investment Trust by 36.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 266,348 shares of the real estate investment trust’s stock worth $3,015,000 after buying an additional 71,164 shares during the last quarter. BlackRock Inc. grew its position 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 worth $117,609,000 after buying an additional 159,545 shares during the last quarter. Northern Trust Corp boosted 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 worth $25,270,000 after purchasing an additional 61,797 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in 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 worth $130,033,000 after purchasing an additional 130,986 shares in 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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