Zacks: Analysts Expect Pennsylvania Real Estate Investment Trust (PEI) Will Announce Quarterly Sales of $101.37 Million

Brokerages forecast that Pennsylvania Real Estate Investment Trust (NYSE:PEI) will post $101.37 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Pennsylvania Real Estate Investment Trust’s earnings, with the lowest sales estimate coming in at $92.43 million and the highest estimate coming in at $113.42 million. Pennsylvania Real Estate Investment Trust posted sales of $102.95 million in the same quarter last year, which suggests a negative year over year growth rate of 1.5%. The business is scheduled to issue its next earnings report on Thursday, February 22nd.

On average, analysts expect that Pennsylvania Real Estate Investment Trust will report full-year sales of $101.37 million for the current year, with estimates ranging from $346.71 million to $417.52 million. For the next year, analysts forecast that the business will report sales of $391.85 million per share, with estimates ranging from $365.27 million to $427.39 million. Zacks’ sales calculations are an average based on a survey of analysts that cover Pennsylvania Real Estate Investment Trust.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last released 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 the consensus estimate 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 company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 earnings per share.

Several equities research analysts recently weighed in on PEI shares. Zacks Investment Research cut Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a report on Friday, July 21st. BidaskClub upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Boenning Scattergood reiterated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, August 10th. Barclays PLC lowered their target price on Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 15th. Finally, Citigroup Inc. decreased their price target on Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating on the stock in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $13.83.

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A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Pennsylvania Real Estate Investment Trust by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 11,487,090 shares of the real estate investment trust’s stock valued at $130,033,000 after buying an additional 130,986 shares in the last quarter. BlackRock Inc. raised its holdings in Pennsylvania Real Estate Investment Trust by 1.6% in the 2nd quarter. BlackRock Inc. now owns 10,389,468 shares of the real estate investment trust’s stock valued at $117,609,000 after acquiring an additional 159,545 shares during the last quarter. State Street Corp raised its holdings in Pennsylvania Real Estate Investment Trust by 2.3% in the 2nd quarter. State Street Corp now owns 2,683,266 shares of the real estate investment trust’s stock valued at $30,370,000 after acquiring an additional 60,384 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 2.8% during the 2nd quarter. Northern Trust Corp now owns 2,232,312 shares of the real estate investment trust’s stock worth $25,270,000 after buying an additional 61,797 shares during the last quarter. Finally, Presima Inc. increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 361.4% during the 3rd quarter. Presima Inc. now owns 2,059,300 shares of the real estate investment trust’s stock worth $21,602,000 after buying an additional 1,613,000 shares during the last quarter. 99.35% of the stock is currently owned by hedge funds and other institutional investors.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) opened at $11.08 on Thursday. 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 $20.21. The firm has a market capitalization of $751.52, a price-to-earnings ratio of 6.21 and a beta of 1.29.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 7.58%. The ex-dividend date is Thursday, November 30th. Pennsylvania Real Estate Investment Trust’s dividend payout ratio is presently -67.74%.

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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Earnings History and Estimates for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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