Pennsylvania Real Estate Investment Trust (NYSE:PEI) has received a consensus recommendation of “Hold” from the eleven analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $14.17.

PEI has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Boenning Scattergood cut shares of Pennsylvania Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a research note on Monday, May 15th. ValuEngine cut shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Stifel Nicolaus began coverage on shares of Pennsylvania Real Estate Investment Trust in a research note on Friday, July 14th. They issued a “hold” rating and a $11.50 price objective for the company. Finally, BidaskClub upgraded shares of Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 31st.

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In related news, Director John Joseph Roberts purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average cost of $10.76 per share, with a total value of $107,600.00. Following the acquisition, the director now owns 33,060 shares of the company’s stock, valued at approximately $355,725.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George J. Alburger, Jr. purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were bought at an average cost of $11.78 per share, for a total transaction of $58,900.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $58,900. The disclosure for this purchase can be found here. Insiders have purchased a total of 35,000 shares of company stock worth $391,000 over the last ninety days. 4.40% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in PEI. Louisiana State Employees Retirement System raised its stake in shares of Pennsylvania Real Estate Investment Trust by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 28,400 shares of the real estate investment trust’s stock valued at $321,000 after buying an additional 100 shares during the period. Arizona State Retirement System raised its stake in shares of Pennsylvania Real Estate Investment Trust by 0.6% in the second quarter. Arizona State Retirement System now owns 36,413 shares of the real estate investment trust’s stock valued at $412,000 after buying an additional 200 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of Pennsylvania Real Estate Investment Trust by 3.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,400 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 550 shares during the period. Texas Permanent School Fund raised its stake in shares of Pennsylvania Real Estate Investment Trust by 1.2% in the second quarter. Texas Permanent School Fund now owns 50,918 shares of the real estate investment trust’s stock valued at $576,000 after buying an additional 613 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Pennsylvania Real Estate Investment Trust by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 83,543 shares of the real estate investment trust’s stock valued at $946,000 after buying an additional 754 shares during the period. 99.29% of the stock is currently owned by institutional investors.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) traded down 2.48% during midday trading on Wednesday, hitting $10.21. The stock had a trading volume of 1,830,141 shares. The firm has a 50 day moving average price of $11.38 and a 200 day moving average price of $13.09. Pennsylvania Real Estate Investment Trust has a one year low of $9.84 and a one year high of $25.43. The stock’s market cap is $712.93 million.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. Pennsylvania Real Estate Investment Trust had a negative net margin of 18.13% and a negative return on equity of 9.06%. The business had revenue of $89.25 million during the quarter, compared to analysts’ expectations of $95.60 million. During the same quarter in the previous year, the company earned $0.43 EPS. The business’s revenue was down 5.3% on a year-over-year basis. Equities analysts expect that Pennsylvania Real Estate Investment Trust will post ($0.40) EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 8.23%. The ex-dividend date of this dividend is Wednesday, August 30th. Pennsylvania Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -64.12%.

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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