Pennsylvania Real Estate Investment Trust (PEI) Rating Reiterated by Boenning Scattergood

Pennsylvania Real Estate Investment Trust (NYSE:PEI)‘s stock had its “hold” rating reiterated by equities researchers at Boenning Scattergood in a note issued to investors on Friday. Boenning Scattergood also issued estimates for Pennsylvania Real Estate Investment Trust’s Q4 2017 earnings at $0.49 EPS, Q3 2018 earnings at $0.45 EPS, Q4 2018 earnings at $0.53 EPS and FY2018 earnings at $1.81 EPS.

A number of other equities analysts also recently issued reports on the company. Zacks Investment Research raised Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Friday. Barclays PLC reaffirmed a “sell” rating and set a $10.00 price target on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, October 19th. Stifel Nicolaus reaffirmed a “hold” rating and set a $11.00 price target on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, October 12th. ValuEngine raised Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Mitsubishi UFJ Financial Group downgraded Pennsylvania Real Estate Investment Trust from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $12.00 in a research report on Thursday, August 24th. 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. Pennsylvania Real Estate Investment Trust has an average rating of “Hold” and an average price target of $13.92.

Pennsylvania Real Estate Investment Trust (PEI) opened at $9.80 on Friday. The stock has a market capitalization of $685.11, a price-to-earnings ratio of 5.66 and a beta of 1.29. The company has a current ratio of 1.91, a quick ratio of 0.74 and a debt-to-equity ratio of 1.79. Pennsylvania Real Estate Investment Trust has a 12-month low of $9.32 and a 12-month high of $20.58.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $89.20 million for the quarter, compared to the consensus estimate of $98.85 million. Pennsylvania Real Estate Investment Trust had a negative return on equity of 7.60% and a negative net margin of 16.35%. The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 earnings per share. equities research analysts anticipate that Pennsylvania Real Estate Investment Trust will post 1.65 EPS for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in PEI. Dupont Capital Management Corp grew its holdings in shares of Pennsylvania Real Estate Investment Trust by 77.4% during the second quarter. Dupont Capital Management Corp now owns 11,727 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 5,117 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Pennsylvania Real Estate Investment Trust during the third quarter valued at $146,000. SG Americas Securities LLC grew its holdings in shares of Pennsylvania Real Estate Investment Trust by 46.3% during the second quarter. SG Americas Securities LLC now owns 14,618 shares of the real estate investment trust’s stock valued at $165,000 after buying an additional 4,624 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Pennsylvania Real Estate Investment Trust during the second quarter valued at $171,000. Finally, BlueCrest Capital Management Ltd grew its holdings in shares of Pennsylvania Real Estate Investment Trust by 13.6% during the second quarter. BlueCrest Capital Management Ltd now owns 15,152 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 1,818 shares during the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

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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