Boenning Scattergood reissued their hold rating on shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) in a research note released on Friday morning. Boenning Scattergood also issued estimates for Pennsylvania Real Estate Investment Trust’s Q4 2017 earnings at $0.49 EPS, Q3 2018 earnings at $0.45 EPS, Q4 2018 earnings at $0.53 EPS and FY2018 earnings at $1.81 EPS.

Other research analysts have also issued research reports about the company. ValuEngine lowered Pennsylvania Real Estate Investment Trust from a buy rating to a hold rating in a report on Friday, September 1st. Zacks Investment Research lowered Pennsylvania Real Estate Investment Trust from a hold rating to a sell rating in a report on Friday, July 21st. Stifel Nicolaus began coverage on Pennsylvania Real Estate Investment Trust in a report on Friday, July 14th. They set a hold rating and a $11.50 price objective for the company. Barclays PLC cut their price objective on Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an underweight rating for the company in a report on Tuesday, August 15th. Finally, BidaskClub raised Pennsylvania Real Estate Investment Trust from a sell rating to a hold rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $13.92.

Shares of Pennsylvania Real Estate Investment Trust (NYSE PEI) opened at $9.80 on Friday. Pennsylvania Real Estate Investment Trust has a 52-week low of $9.32 and a 52-week high of $20.58. The firm has a market capitalization of $685.11, a PE ratio of 5.66 and a beta of 1.29. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.79.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Pennsylvania Real Estate Investment Trust had a negative return on equity of 7.60% and a negative net margin of 16.35%. The firm had revenue of $89.20 million for the quarter, compared to analysts’ expectations of $98.85 million. During the same period in the prior year, the business posted $0.48 earnings per share. The company’s revenue was down 9.8% on a year-over-year basis. sell-side analysts predict that Pennsylvania Real Estate Investment Trust will post 1.65 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 8.57%. The ex-dividend date of this dividend is Thursday, November 30th. Pennsylvania Real Estate Investment Trust’s dividend payout ratio is currently -67.74%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Pennsylvania Real Estate Investment Trust by 1.2% in the second quarter. Vanguard Group Inc. now owns 11,487,090 shares of the real estate investment trust’s stock worth $130,033,000 after buying an additional 130,986 shares in the last quarter. BlackRock Inc. boosted its stake in Pennsylvania Real Estate Investment Trust by 1.6% in the second 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 in the last quarter. State Street Corp boosted its stake in Pennsylvania Real Estate Investment Trust by 2.3% in the second quarter. State Street Corp now owns 2,683,266 shares of the real estate investment trust’s stock worth $30,370,000 after buying an additional 60,384 shares in the last quarter. Northern Trust Corp boosted its stake in Pennsylvania Real Estate Investment Trust by 2.8% in the second quarter. Northern Trust Corp now owns 2,232,312 shares of the real estate investment trust’s stock worth $25,270,000 after buying an additional 61,797 shares in the last quarter. Finally, Balyasny Asset Management LLC boosted its stake in Pennsylvania Real Estate Investment Trust by 66.4% in the second quarter. Balyasny Asset Management LLC now owns 1,561,440 shares of the real estate investment trust’s stock worth $17,676,000 after buying an additional 623,301 shares in the last quarter. 99.30% of the stock is owned by institutional investors and hedge funds.

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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