Pennsylvania Real Estate Investment Trust’s (PEI) Sell Rating Reiterated at Barclays PLC

Pennsylvania Real Estate Investment Trust (NYSE:PEI)‘s stock had its “sell” rating restated by research analysts at Barclays PLC in a report issued on Thursday, October 19th. They presently have a $10.00 price objective on the real estate investment trust’s stock. Barclays PLC’s price target suggests a potential upside of 1.42% from the stock’s previous close.

A number of other research firms also recently commented on PEI. Zacks Investment Research downgraded shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. Stifel Nicolaus set a $11.00 price target on shares of Pennsylvania Real Estate Investment Trust and gave the stock a “hold” rating in a research report on Sunday, September 10th. ValuEngine upgraded shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. BidaskClub upgraded shares of Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, Mitsubishi UFJ Financial Group downgraded shares of Pennsylvania Real Estate Investment Trust from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $12.00 in a report on Thursday, August 24th. Two 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. Pennsylvania Real Estate Investment Trust currently has an average rating of “Hold” and an average price target of $13.92.

Shares of Pennsylvania Real Estate Investment Trust (PEI) opened at 9.86 on Thursday. The stock’s 50 day moving average price is $10.46 and its 200-day moving average price is $11.45. Pennsylvania Real Estate Investment Trust has a 52-week low of $9.32 and a 52-week high of $20.58. The firm’s market capitalization is $688.49 million.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last released its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Pennsylvania Real Estate Investment Trust had a negative net margin of 18.13% and a negative return on equity of 9.06%. The company had revenue of $89.25 million for the quarter, compared to the consensus estimate of $95.60 million. During the same period in the previous year, the firm earned $0.43 EPS. Pennsylvania Real Estate Investment Trust’s revenue was down 5.3% on a year-over-year basis. Equities research analysts anticipate that Pennsylvania Real Estate Investment Trust will post ($0.81) EPS for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of Pennsylvania Real Estate Investment Trust by 1.3% in the third quarter. Victory Capital Management Inc. now owns 1,429,069 shares of the real estate investment trust’s stock worth $14,991,000 after acquiring an additional 18,223 shares in the last quarter. RMR Advisors LLC increased its position in shares of Pennsylvania Real Estate Investment Trust by 15.7% in the third quarter. RMR Advisors LLC now owns 147,628 shares of the real estate investment trust’s stock worth $1,549,000 after acquiring an additional 20,000 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Pennsylvania Real Estate Investment Trust in the third quarter worth approximately $146,000. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Pennsylvania Real Estate Investment Trust by 1.1% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 686,494 shares of the real estate investment trust’s stock worth $7,201,000 after acquiring an additional 7,222 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its position in shares of Pennsylvania Real Estate Investment Trust by 2.8% in the third quarter. Mutual of America Capital Management LLC now owns 221,580 shares of the real estate investment trust’s stock worth $2,324,000 after acquiring an additional 5,940 shares in the last quarter. 97.74% of the stock is currently owned by institutional investors and hedge funds.

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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