JPMorgan Chase & Co. Cuts Pennsylvania R.E.I.T. (NYSE:PEI) Price Target to $5.50

Pennsylvania R.E.I.T. (NYSE:PEI) had its price objective decreased by analysts at JPMorgan Chase & Co. from $6.00 to $5.50 in a research report issued on Tuesday, BenzingaRatingsTable reports. The firm presently has an “underweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 7.21% from the stock’s previous close.

Several other analysts have also recently commented on PEI. Zacks Investment Research raised shares of Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Citigroup downgraded Pennsylvania R.E.I.T. from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $6.00 to $4.50 in a research report on Monday, September 23rd. Finally, ValuEngine upgraded Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Pennsylvania R.E.I.T. has an average rating of “Hold” and an average price target of $5.56.

Pennsylvania R.E.I.T. stock opened at $5.13 on Tuesday. The stock has a market capitalization of $446.93 million, a P/E ratio of 3.33 and a beta of 1.20. Pennsylvania R.E.I.T. has a 12-month low of $4.34 and a 12-month high of $8.20. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.52 and a quick ratio of 0.52. The firm’s 50-day moving average is $5.78 and its two-hundred day moving average is $5.89.

Pennsylvania R.E.I.T. (NYSE:PEI) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). The firm had revenue of $80.88 million during the quarter, compared to analyst estimates of $81.50 million. Pennsylvania R.E.I.T. had a negative net margin of 21.74% and a negative return on equity of 15.16%. As a group, analysts forecast that Pennsylvania R.E.I.T. will post 1.1 EPS for the current year.

In related news, CEO Joseph F. Coradino purchased 11,200 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were bought at an average price of $5.33 per share, with a total value of $59,696.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles P. Pizzi purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was bought at an average price of $5.34 per share, for a total transaction of $53,400.00. Following the acquisition, the director now owns 58,459 shares in the company, valued at $312,171.06. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 26,700 shares of company stock valued at $142,976. 3.10% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Psagot Investment House Ltd. acquired a new stake in Pennsylvania R.E.I.T. during the third quarter valued at approximately $6,142,000. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD acquired a new position in Pennsylvania R.E.I.T. in the third quarter valued at approximately $48,790,000. Vanguard Group Inc. lifted its stake in Pennsylvania R.E.I.T. by 5.2% in the second quarter. Vanguard Group Inc. now owns 11,252,055 shares of the real estate investment trust’s stock valued at $73,138,000 after buying an additional 559,316 shares during the period. Nuveen Asset Management LLC bought a new position in shares of Pennsylvania R.E.I.T. during the 2nd quarter worth approximately $3,357,000. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new position in shares of Pennsylvania R.E.I.T. during the 3rd quarter worth approximately $17,532,000. Institutional investors and hedge funds own 66.48% of the company’s stock.

Pennsylvania R.E.I.T. Company Profile

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in the densely-populated eastern U.S.

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