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).
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