Pennsylvania Real Estate Investment Trust (PEI) Upgraded to Hold at Zacks Investment Research

Pennsylvania Real Estate Investment Trust (NYSE:PEI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, November 3rd.

According to Zacks, “PENNSYLVANIA R.E. INVEST. TR. is a real estate investment trust, engaged in acquiring and holding for investment interests in real estate. “

A number of other research firms have also weighed in on PEI. Stifel Nicolaus restated a “hold” rating and set a $11.00 target price on shares of Pennsylvania Real Estate Investment Trust in a research note on Thursday, October 12th. Mitsubishi UFJ Financial Group lowered shares of Pennsylvania Real Estate Investment Trust from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $16.00 to $12.00 in a research note on Thursday, August 24th. Boenning Scattergood reiterated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research note on Wednesday, September 6th. Barclays PLC reiterated a “sell” rating and issued a $10.00 price target on shares of Pennsylvania Real Estate Investment Trust in a research note on Thursday, October 19th. Finally, ValuEngine upgraded shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $13.83.

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) opened at $11.14 on Friday. Pennsylvania Real Estate Investment Trust has a 1-year low of $9.32 and a 1-year high of $20.58. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.91 and a quick ratio of 1.91. The stock has a market cap of $778.79, a PE ratio of 6.44 and a beta of 1.29.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. The company had revenue of $89.20 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 earnings per share. research analysts expect that Pennsylvania Real Estate Investment Trust will post 1.65 EPS for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in the business. Presima Inc. lifted its holdings in Pennsylvania Real Estate Investment Trust by 361.4% in the third quarter. Presima Inc. now owns 2,059,300 shares of the real estate investment trust’s stock valued at $21,602,000 after acquiring an additional 1,613,000 shares during the period. Hartland & Co. LLC acquired a new position in shares of Pennsylvania Real Estate Investment Trust during the 3rd quarter worth $185,000. JPMorgan Chase & Co. raised its stake in shares of Pennsylvania Real Estate Investment Trust by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 990,903 shares of the real estate investment trust’s stock worth $10,424,000 after buying an additional 70,782 shares during the last quarter. Virginia Retirement Systems ET AL raised its stake in shares of Pennsylvania Real Estate Investment Trust by 40.1% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 408,200 shares of the real estate investment trust’s stock worth $4,282,000 after buying an additional 116,900 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Pennsylvania Real Estate Investment Trust by 8.6% during the 3rd quarter. Legal & General Group Plc now owns 309,760 shares of the real estate investment trust’s stock worth $3,249,000 after buying an additional 24,400 shares during the last quarter. 99.30% of the stock is owned by institutional investors.

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

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