$101.37 Million in Sales Expected for Pennsylvania Real Estate Investment Trust (PEI) This Quarter

Brokerages expect that Pennsylvania Real Estate Investment Trust (NYSE:PEI) will report sales of $101.37 million for the current fiscal quarter, according to Zacks. 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 company is scheduled to announce its next quarterly earnings results on Thursday, February 22nd.

According to Zacks, 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 anticipate that the firm will post sales of $391.85 million per share, with estimates ranging from $365.27 million to $427.39 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Pennsylvania Real Estate Investment Trust.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The business 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 return on equity of 7.60% and a negative net margin of 16.35%. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 EPS.

PEI has been the topic of a number of research analyst reports. ValuEngine upgraded Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Boenning Scattergood restated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research note on Friday, November 3rd. Stifel Nicolaus set a $11.00 target price on Pennsylvania Real Estate Investment Trust and gave the stock a “hold” rating in a research note on Sunday, September 10th. Finally, Citigroup decreased their target price on Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $13.83.

Pennsylvania Real Estate Investment Trust (PEI) opened at $11.17 on Friday. The firm has a market capitalization of $770.40, a PE ratio of 6.37 and a beta of 1.35. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.79. Pennsylvania Real Estate Investment Trust has a one year low of $9.32 and a one year high of $19.92.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.21 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.84 annualized dividend and a dividend yield of 7.52%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -67.74%.

Institutional investors have recently made changes to their positions in the company. RMR Advisors LLC increased its position in shares of Pennsylvania Real Estate Investment Trust by 15.7% during the 3rd quarter. RMR Advisors LLC now owns 147,628 shares of the real estate investment trust’s stock valued at $1,549,000 after purchasing an additional 20,000 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Pennsylvania Real Estate Investment Trust by 16.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 920,121 shares of the real estate investment trust’s stock valued at $10,416,000 after purchasing an additional 131,067 shares during the last quarter. King Street Capital Management L.P. increased its position in shares of Pennsylvania Real Estate Investment Trust by 240.0% during the 3rd quarter. King Street Capital Management L.P. now owns 1,700,000 shares of the real estate investment trust’s stock valued at $17,833,000 after purchasing an additional 1,200,000 shares during the last quarter. Dupont Capital Management Corp increased its position in shares of Pennsylvania Real Estate Investment Trust by 77.4% during the 2nd quarter. Dupont Capital Management Corp now owns 11,727 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 5,117 shares during the last quarter. Finally, Stevens Capital Management LP increased its position in shares of Pennsylvania Real Estate Investment Trust by 33.8% during the 3rd quarter. Stevens Capital Management LP now owns 116,415 shares of the real estate investment trust’s stock valued at $1,221,000 after purchasing an additional 29,396 shares during the last quarter. Hedge funds and other institutional investors own 97.74% of the company’s stock.

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About Pennsylvania Real Estate Investment Trust

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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