Pennsylvania Real Estate Investment Trust (PEI) Releases FY17 Earnings Guidance

Pennsylvania Real Estate Investment Trust (NYSE:PEI) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.62-1.67 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.66.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.21 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.84 annualized dividend and a yield of 8.64%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -64.12%.

Several research analysts have issued reports on PEI shares. Zacks Investment Research cut shares of Pennsylvania Real Estate Investment Trust from a hold rating to a sell rating in a report on Wednesday, July 12th. Stifel Nicolaus started coverage on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, July 14th. They issued a hold rating and a $11.50 target price for the company. BidaskClub raised shares of Pennsylvania Real Estate Investment Trust from a sell rating to a hold rating in a report on Monday, July 31st. Boenning Scattergood reaffirmed a hold rating on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, August 10th. Finally, Citigroup Inc. decreased their target price on shares of Pennsylvania Real Estate Investment Trust from $13.50 to $12.50 and set a neutral rating for the company in a report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $13.92.

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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).

Earnings History and Estimates for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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