Zacks: Brokerages Expect Pennsylvania R.E.I.T. (PEI) to Announce $0.25 Earnings Per Share
Equities research analysts forecast that Pennsylvania R.E.I.T. (NYSE:PEI) will post $0.25 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Pennsylvania R.E.I.T.’s earnings. The lowest EPS estimate is $0.22 and the highest is $0.29. Pennsylvania R.E.I.T. posted earnings per share of $0.29 in the same quarter last year, which suggests a negative year over year growth rate of 13.8%. The company is expected to issue its next earnings results after the market closes on Thursday, May 2nd.
According to Zacks, analysts expect that Pennsylvania R.E.I.T. will report full-year earnings of $1.25 per share for the current financial year, with EPS estimates ranging from $1.23 to $1.27. For the next year, analysts expect that the firm will report earnings of $1.30 per share, with EPS estimates ranging from $1.22 to $1.34. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Pennsylvania R.E.I.T..
Pennsylvania R.E.I.T. (NYSE:PEI) last announced its quarterly earnings results on Wednesday, February 13th. The real estate investment trust reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($1.77). The firm had revenue of $95.33 million during the quarter, compared to analyst estimates of $96.88 million. Pennsylvania R.E.I.T. had a negative net margin of 30.84% and a negative return on equity of 16.89%.
PEI stock traded down $0.20 during trading hours on Wednesday, reaching $5.50. The stock had a trading volume of 1,708,384 shares, compared to its average volume of 1,491,201. The stock has a market cap of $401.00 million, a P/E ratio of 3.57 and a beta of 1.52. The company has a debt-to-equity ratio of 3.04, a current ratio of 0.65 and a quick ratio of 0.65. Pennsylvania R.E.I.T. has a fifty-two week low of $5.46 and a fifty-two week high of $12.45.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Pennsylvania R.E.I.T. by 2.0% in the fourth quarter. BlackRock Inc. now owns 11,428,311 shares of the real estate investment trust’s stock valued at $67,883,000 after purchasing an additional 224,565 shares during the period. Bank of New York Mellon Corp raised its position in shares of Pennsylvania R.E.I.T. by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 1,709,303 shares of the real estate investment trust’s stock valued at $16,170,000 after purchasing an additional 13,275 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Pennsylvania R.E.I.T. by 0.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,110,353 shares of the real estate investment trust’s stock valued at $10,504,000 after purchasing an additional 7,754 shares during the period. Geode Capital Management LLC raised its position in shares of Pennsylvania R.E.I.T. by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 893,967 shares of the real estate investment trust’s stock valued at $5,310,000 after purchasing an additional 48,408 shares during the period. Finally, Mackenzie Financial Corp bought a new position in shares of Pennsylvania R.E.I.T. in the third quarter valued at about $6,344,000. 83.81% of the stock is currently owned by institutional investors.
Pennsylvania R.E.I.T. Company Profile
PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in the densely-populated eastern U.S.
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