Pennsylvania Real Estate Investment Trust (PEI) Shares Gap Down to $12.04

Pennsylvania Real Estate Investment Trust (NYSE:PEI)’s share price gapped down before the market opened on Friday . The stock had previously closed at $12.31, but opened at $12.04. Pennsylvania Real Estate Investment Trust shares last traded at $11.09, with a volume of 2601500 shares changing hands.

Several brokerages have recently issued reports on PEI. Citigroup decreased their price objective on Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating for the company in a research note on Friday, November 10th. Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Boenning Scattergood reiterated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research note on Friday, November 3rd. Barclays reiterated a “sell” rating and issued a $10.00 price objective on shares of Pennsylvania Real Estate Investment Trust in a research note on Thursday, October 19th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $11.00 price objective on shares of Pennsylvania Real Estate Investment Trust in a research note on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $13.83.

The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a market cap of $732.55, a P/E ratio of 6.41 and a beta of 1.28.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last announced its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. The business had revenue of $89.20 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. equities analysts anticipate that Pennsylvania Real Estate Investment Trust will post 1.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 7.79%. The ex-dividend date is Thursday, November 30th. Pennsylvania Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -67.74%.

Several hedge funds and other institutional investors have recently modified their holdings of PEI. Dupont Capital Management Corp raised its position in shares of Pennsylvania Real Estate Investment Trust by 77.4% during the 2nd quarter. Dupont Capital Management Corp now owns 11,727 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 5,117 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Pennsylvania Real Estate Investment Trust during the 3rd quarter worth about $146,000. SG Americas Securities LLC raised its position in shares of Pennsylvania Real Estate Investment Trust by 46.3% during the 2nd quarter. SG Americas Securities LLC now owns 14,618 shares of the real estate investment trust’s stock worth $165,000 after acquiring an additional 4,624 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Pennsylvania Real Estate Investment Trust during the 2nd quarter worth about $171,000. Finally, BlueCrest Capital Management Ltd raised its position in shares of Pennsylvania Real Estate Investment Trust by 13.6% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 15,152 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 1,818 shares in the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: “Pennsylvania Real Estate Investment Trust (PEI) Shares Gap Down to $12.04” was originally reported by Community Financial News and is owned by of Community Financial News. If you are accessing this report on another publication, it was copied illegally and republished in violation of United States and international copyright and trademark legislation. The original version of this report can be read at https://www.com-unik.info/2017/12/03/pennsylvania-real-estate-investment-trust-pei-shares-gap-down-to-12-04.html.

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).

What are top analysts saying about Pennsylvania Real Estate Investment Trust? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Pennsylvania Real Estate Investment Trust and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit