Pennsylvania Real Estate Investment Trust (NYSE:PEI) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) from a buy rating to a hold rating in a research note released on Friday, January 5th.

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. “

PEI has been the topic of a number of other reports. Stifel Nicolaus reiterated a hold rating and set a $11.00 price target on shares of Pennsylvania Real Estate Investment Trust in a research note on Thursday, October 12th. ValuEngine downgraded Pennsylvania Real Estate Investment Trust from a buy rating to a hold rating in a research report on Sunday, December 31st. Citigroup lowered their price objective on Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a neutral rating for the company in a research report on Friday, November 10th. Barclays reaffirmed a sell rating and issued a $10.00 price target on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 19th. Finally, Boenning Scattergood reaffirmed a hold rating on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, November 3rd. Four investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $12.29.

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) traded down $0.13 on Friday, reaching $11.16. 1,290,000 shares of the company traded hands, compared to its average volume of 1,190,000. The stock has a market cap of $780.18, a price-to-earnings ratio of -9.00 and a beta of 1.35. Pennsylvania Real Estate Investment Trust has a 12-month low of $9.32 and a 12-month high of $18.19. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.91 and a current ratio of 1.91.

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, beating the consensus estimate of $0.41 by $0.01. The firm had revenue of $89.20 million for the quarter, compared to analyst estimates 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 was down 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. research analysts anticipate that Pennsylvania Real Estate Investment Trust will post 1.65 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of PEI. Fox Run Management L.L.C. purchased a new stake in shares of Pennsylvania Real Estate Investment Trust during the fourth quarter worth approximately $139,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Pennsylvania Real Estate Investment Trust during the third quarter worth approximately $146,000. SG Americas Securities LLC raised its stake in shares of Pennsylvania Real Estate Investment Trust by 46.3% during the second quarter. SG Americas Securities LLC now owns 14,618 shares of the real estate investment trust’s stock worth $165,000 after purchasing an additional 4,624 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Pennsylvania Real Estate Investment Trust during the second quarter worth approximately $171,000. Finally, BlueCrest Capital Management Ltd raised its stake in shares of Pennsylvania Real Estate Investment Trust by 13.6% during the second quarter. BlueCrest Capital Management Ltd now owns 15,152 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 1,818 shares during the last quarter.

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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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