Pennsylvania Real Estate Investment Trust (NYSE:PEI)‘s stock had its “sell” rating reiterated by equities research analysts at Barclays PLC in a report released on Thursday. They currently have a $10.00 price target on the real estate investment trust’s stock. Barclays PLC’s target price suggests a potential downside of 3.38% from the company’s current price.

A number of other brokerages have also commented on PEI. Zacks Investment Research lowered Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. Stifel Nicolaus set a $11.00 price objective on Pennsylvania Real Estate Investment Trust and gave the company a “hold” rating in a research report on Sunday, September 10th. ValuEngine raised Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub raised Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Mitsubishi UFJ Financial Group lowered Pennsylvania Real Estate Investment Trust from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $16.00 to $12.00 in a research report on Thursday, August 24th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Pennsylvania Real Estate Investment Trust presently has an average rating of “Hold” and an average price target of $13.92.

Shares of Pennsylvania Real Estate Investment Trust (NYSE PEI) opened at 10.35 on Thursday. Pennsylvania Real Estate Investment Trust has a 52 week low of $9.75 and a 52 week high of $21.56. The firm’s 50-day moving average is $10.47 and its 200-day moving average is $11.57. The company’s market cap is $722.71 million.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last announced its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Pennsylvania Real Estate Investment Trust had a negative return on equity of 9.06% and a negative net margin of 18.13%. The company had revenue of $89.25 million during the quarter, compared to analyst estimates of $95.60 million. During the same quarter last year, the firm posted $0.43 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. Equities research analysts predict that Pennsylvania Real Estate Investment Trust will post ($0.81) earnings per share for the current year.

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A number of institutional investors have recently made changes to their positions in PEI. BlackRock Inc. lifted its position in Pennsylvania Real Estate Investment Trust by 10,081.1% during the first quarter. BlackRock Inc. now owns 10,229,923 shares of the real estate investment trust’s stock valued at $154,881,000 after buying an additional 10,129,443 shares during the period. Morgan Stanley lifted its position in Pennsylvania Real Estate Investment Trust by 667.8% during the first quarter. Morgan Stanley now owns 2,186,212 shares of the real estate investment trust’s stock valued at $33,099,000 after buying an additional 1,901,460 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its position in Pennsylvania Real Estate Investment Trust by 1,627.5% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 679,272 shares of the real estate investment trust’s stock valued at $7,689,000 after buying an additional 639,951 shares during the period. Balyasny Asset Management LLC raised its position in shares of Pennsylvania Real Estate Investment Trust by 66.4% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,561,440 shares of the real estate investment trust’s stock worth $17,676,000 after purchasing an additional 623,301 shares during the last quarter. Finally, King Street Capital Management L.P. purchased a new position in shares of Pennsylvania Real Estate Investment Trust in the 2nd quarter worth about $5,660,000. 97.74% of the stock is owned by institutional investors and hedge funds.

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).

Analyst Recommendations for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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