Pennsylvania Real Estate Investment Trust (PEI) Releases FY18 Earnings Guidance

Pennsylvania Real Estate Investment Trust (NYSE:PEI) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.50-1.60 for the period, compared to the Thomson Reuters consensus estimate of $1.69.

A number of research firms have issued reports on PEI. Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a hold rating to a buy rating and set a $13.00 target price for the company in a report on Wednesday, January 10th. Goldman Sachs Group began coverage on Pennsylvania Real Estate Investment Trust in a report on Friday, January 19th. They set a sell rating and a $10.00 target price for the company. Citigroup lowered their target price on 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. ValuEngine cut Pennsylvania Real Estate Investment Trust from a buy rating to a hold rating in a report on Friday, February 2nd. Finally, Barclays reiterated a sell rating and set a $10.00 target price on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 19th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Pennsylvania Real Estate Investment Trust currently has a consensus rating of Hold and a consensus price target of $12.29.

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) traded down $0.07 during midday trading on Wednesday, hitting $9.92. The stock had a trading volume of 1,056,076 shares, compared to its average volume of 1,233,490. The company has a market cap of $713.07, a PE ratio of -7.99 and a beta of 1.24. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.91 and a quick ratio of 1.91. Pennsylvania Real Estate Investment Trust has a 12 month low of $9.30 and a 12 month high of $17.68.

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

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

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