Pennsylvania Real Estate Investment Trust (PEI) Coverage Initiated at Goldman Sachs Group

Goldman Sachs Group began coverage on shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) in a report issued on Friday morning, Marketbeat reports. The firm issued a sell rating and a $10.00 price objective on the real estate investment trust’s stock.

PEI has been the subject of a number of other reports. Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a hold rating to a buy rating and set a $13.00 price target for the company in a report on Wednesday, January 10th. Barclays restated a sell rating and set a $10.00 price objective on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, October 19th. ValuEngine lowered Pennsylvania Real Estate Investment Trust from a buy rating to a hold rating in a research report on Sunday, December 31st. Finally, Stifel Nicolaus restated a hold rating and set a $11.00 price objective on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, October 12th. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Pennsylvania Real Estate Investment Trust presently has an average rating of Hold and an average target price of $12.29.

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) traded up $0.28 during midday trading on Friday, hitting $11.73. The stock had a trading volume of 1,452,274 shares, compared to its average volume of 996,141. Pennsylvania Real Estate Investment Trust has a 1-year low of $9.32 and a 1-year high of $18.26. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.79. The company has a market cap of $800.46, a P/E ratio of -9.46 and a beta of 1.35.

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 for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. Pennsylvania Real Estate Investment Trust had a negative return on equity of 7.60% and a negative net margin of 16.35%. The business had revenue of $89.20 million during the quarter, compared to the consensus estimate of $98.85 million. During the same period in the previous year, the business earned $0.48 EPS. The business’s quarterly revenue was down 9.8% on a year-over-year basis. research analysts forecast that Pennsylvania Real Estate Investment Trust will post 1.64 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. acquired a new position in Pennsylvania Real Estate Investment Trust during the 4th quarter valued at approximately $139,000. Crossmark Global Holdings Inc. acquired a new position in Pennsylvania Real Estate Investment Trust during the 3rd quarter valued at approximately $146,000. SG Americas Securities LLC boosted its position in 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 valued at $165,000 after purchasing an additional 4,624 shares during the period. Piedmont Investment Advisors LLC acquired a new position in Pennsylvania Real Estate Investment Trust during the 2nd quarter valued at approximately $171,000. Finally, BlueCrest Capital Management Ltd boosted its position in 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 during the period.

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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).

Analyst Recommendations for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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