Pennsylvania Real Estate Investment Trust (NYSE:PEI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $14.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price target points to a potential upside of 19.35% from the company’s current price.

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. “

Several other analysts have also recently weighed in on the stock. Boenning Scattergood reiterated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, November 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $11.00 price target on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 12th. Barclays reiterated a “sell” rating and issued a $10.00 price target on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 19th. Citigroup lowered their price objective on Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating for the company in a research report on Friday, November 10th. Finally, ValuEngine raised Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $13.86.

Shares of Pennsylvania Real Estate Investment Trust (PEI) opened at $11.73 on Thursday. The firm has a market cap of $813.04, a price-to-earnings ratio of -9.46 and a beta of 1.35. Pennsylvania Real Estate Investment Trust has a fifty-two week low of $9.32 and a fifty-two week high of $19.52. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.79.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last released its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. The business had revenue of $89.20 million for the quarter, compared to analysts’ expectations of $98.85 million. Pennsylvania Real Estate Investment Trust had a negative net margin of 16.35% and a negative return on equity of 7.60%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 earnings per share. equities analysts expect that Pennsylvania Real Estate Investment Trust will post 1.64 EPS for the current year.

Institutional investors have recently made changes to their positions in the business. RMR Advisors LLC lifted its position in Pennsylvania Real Estate Investment Trust by 15.7% during the third quarter. RMR Advisors LLC now owns 147,628 shares of the real estate investment trust’s stock valued at $1,549,000 after buying an additional 20,000 shares during the period. King Street Capital Management L.P. lifted its position in Pennsylvania Real Estate Investment Trust by 240.0% during the third quarter. King Street Capital Management L.P. now owns 1,700,000 shares of the real estate investment trust’s stock valued at $17,833,000 after buying an additional 1,200,000 shares during the period. JPMorgan Chase & Co. lifted its position in Pennsylvania Real Estate Investment Trust by 16.6% during the second quarter. JPMorgan Chase & Co. now owns 920,121 shares of the real estate investment trust’s stock valued at $10,416,000 after buying an additional 131,067 shares during the period. Stevens Capital Management LP lifted its position in Pennsylvania Real Estate Investment Trust by 33.8% during the third quarter. Stevens Capital Management LP now owns 116,415 shares of the real estate investment trust’s stock valued at $1,221,000 after buying an additional 29,396 shares during the period. Finally, State Street Corp lifted its position in Pennsylvania Real Estate Investment Trust by 2.3% during the second quarter. State Street Corp now owns 2,683,266 shares of the real estate investment trust’s stock valued at $30,370,000 after buying an additional 60,384 shares during the period. 97.74% of the stock is owned by institutional investors and hedge funds.

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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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