Pennsylvania Real Estate Investment Trust (PEI) Stock Rating Lowered by ValuEngine

Pennsylvania Real Estate Investment Trust (NYSE:PEI) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Several other brokerages have also commented on PEI. Citigroup decreased their price objective on shares of Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating for the company in a research report on Friday, November 10th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $11.00 price objective on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, October 12th. Zacks Investment Research raised shares of Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Barclays reaffirmed a “sell” rating and issued a $10.00 price objective on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, October 19th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research report on Wednesday, September 6th. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $13.83.

Pennsylvania Real Estate Investment Trust (PEI) opened at $11.89 on Friday. The company has a market cap of $831.22, a P/E ratio of -9.59 and a beta of 1.35. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.91 and a quick ratio of 1.91. Pennsylvania Real Estate Investment Trust has a 1 year low of $9.32 and a 1 year high of $19.92.

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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The firm had revenue of $89.20 million during the quarter, compared to analyst estimates of $98.85 million. Pennsylvania Real Estate Investment Trust had a negative net margin of 16.35% and a negative return on equity of 7.60%. Pennsylvania Real Estate Investment Trust’s revenue was down 9.8% on a year-over-year basis. During the same period last year, the firm posted $0.48 EPS. research analysts anticipate that Pennsylvania Real Estate Investment Trust will post 1.64 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of PEI. Municipal Employees Retirement System of Michigan increased its holdings in Pennsylvania Real Estate Investment Trust by 3.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,400 shares of the real estate investment trust’s stock worth $186,000 after buying an additional 550 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in Pennsylvania Real Estate Investment Trust by 16.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 760,611 shares of the real estate investment trust’s stock worth $8,611,000 after buying an additional 106,176 shares during the period. Arizona State Retirement System increased its holdings in Pennsylvania Real Estate Investment Trust by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 36,413 shares of the real estate investment trust’s stock worth $412,000 after buying an additional 200 shares during the period. Rhumbline Advisers increased its holdings in Pennsylvania Real Estate Investment Trust by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 159,181 shares of the real estate investment trust’s stock worth $1,802,000 after buying an additional 1,206 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Pennsylvania Real Estate Investment Trust by 46.3% in the 2nd quarter. SG Americas Securities LLC now owns 14,618 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 4,624 shares during the period. Institutional investors own 97.74% of the company’s stock.

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Pennsylvania Real Estate Investment Trust Company Profile

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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