Zacks: Analysts Expect Pennsylvania R.E.I.T. (PEI) Will Announce Quarterly Sales of $89.16 Million
Wall Street analysts expect that Pennsylvania R.E.I.T. (NYSE:PEI) will report sales of $89.16 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Pennsylvania R.E.I.T.’s earnings, with the lowest sales estimate coming in at $86.52 million and the highest estimate coming in at $91.79 million. Pennsylvania R.E.I.T. posted sales of $88.42 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.8%. The company is expected to announce its next quarterly earnings report on Tuesday, April 24th.
On average, analysts expect that Pennsylvania R.E.I.T. will report full year sales of $89.16 million for the current fiscal year, with estimates ranging from $358.40 million to $378.99 million. For the next year, analysts anticipate that the company will post sales of $381.84 million per share, with estimates ranging from $372.55 million to $394.18 million. Zacks’ sales averages are an average based on a survey of research firms that cover Pennsylvania R.E.I.T..
A number of research firms have weighed in on PEI. Zacks Investment Research upgraded shares of Pennsylvania R.E.I.T. from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Wednesday, January 10th. Citigroup reduced their price objective on shares of Pennsylvania R.E.I.T. from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. Stifel Nicolaus restated a “hold” rating and set a $11.50 price objective (down from $12.00) on shares of Pennsylvania R.E.I.T. in a research note on Thursday, February 15th. Boenning Scattergood restated a “hold” rating on shares of Pennsylvania R.E.I.T. in a research note on Friday, February 16th. Finally, Goldman Sachs Group began coverage on shares of Pennsylvania R.E.I.T. in a research note on Friday, January 19th. They set a “sell” rating and a $10.00 price objective for the company. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $12.21.
Pennsylvania R.E.I.T. (NYSE PEI) traded down $0.19 during trading hours on Tuesday, reaching $10.52. 1,598,664 shares of the company’s stock were exchanged, compared to its average volume of 1,238,321. The company has a market cap of $740.31, a price-to-earnings ratio of -11.82 and a beta of 1.22. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.87 and a current ratio of 0.87. Pennsylvania R.E.I.T. has a 1-year low of $9.30 and a 1-year high of $16.70.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.98%. Pennsylvania R.E.I.T.’s dividend payout ratio is presently -94.38%.
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Pennsylvania R.E.I.T. 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).
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