Zacks Investment Research downgraded shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

According to Zacks, “PENNSYLVANIA R.E. INVEST. TR. is a real estate investment trust, engaged in acquiring and holding for investment interests in real estate. “

A number of other research firms have also commented on PEI. Stifel Nicolaus set a $11.00 price target 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. Mitsubishi UFJ Financial Group lowered Pennsylvania Real Estate Investment Trust from an overweight rating to a neutral rating and lowered their price target for the company from $16.00 to $12.00 in a research report on Thursday, August 24th. Finally, Boenning Scattergood reaffirmed a hold rating on shares of Pennsylvania Real Estate Investment Trust in a research report on Wednesday, September 6th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $13.92.

Pennsylvania Real Estate Investment Trust (NYSE PEI) traded up 0.19% during midday trading on Wednesday, reaching $10.49. The company had a trading volume of 939,364 shares. The company has a 50-day moving average price of $10.45 and a 200-day moving average price of $11.61. Pennsylvania Real Estate Investment Trust has a one year low of $9.75 and a one year high of $21.85. The stock’s market capitalization is $732.49 million.

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

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Large investors have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its position in shares of Pennsylvania Real Estate Investment Trust by 1.5% in the 1st quarter. Ameriprise Financial Inc. now owns 393,917 shares of the real estate investment trust’s stock worth $5,964,000 after acquiring an additional 5,974 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Pennsylvania Real Estate Investment Trust by 16.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 920,121 shares of the real estate investment trust’s stock worth $10,416,000 after acquiring an additional 131,067 shares in the last quarter. Bank of America Corp DE raised its position in shares of Pennsylvania Real Estate Investment Trust by 92.2% in the 1st quarter. Bank of America Corp DE now owns 530,229 shares of the real estate investment trust’s stock worth $8,028,000 after acquiring an additional 254,310 shares in the last quarter. Dupont Capital Management Corp raised its position in shares of Pennsylvania Real Estate Investment Trust by 77.4% in the 2nd quarter. Dupont Capital Management Corp now owns 11,727 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 5,117 shares in the last quarter. Finally, Westpac Banking Corp raised its position in shares of Pennsylvania Real Estate Investment Trust by 34.6% in the 2nd quarter. Westpac Banking Corp now owns 305,422 shares of the real estate investment trust’s stock worth $3,457,000 after acquiring an additional 78,462 shares in the last quarter. 97.74% of the stock is owned by hedge funds and other institutional investors.

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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