Pennsylvania Real Estate Investment Trust (PEI) Lowered to “Hold” at ValuEngine

Pennsylvania Real Estate Investment Trust (NYSE:PEI) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Several other analysts also recently weighed in on PEI. 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. Zacks Investment Research downgraded Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Barclays restated a “sell” rating and issued a $10.00 target price on shares of Pennsylvania Real Estate Investment Trust in a research note on Thursday, October 19th. Boenning Scattergood restated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research note on Friday, November 3rd. Finally, Citigroup lowered 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. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $12.29.

Shares of Pennsylvania Real Estate Investment Trust (PEI) opened at $10.75 on Friday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a market capitalization of $777.39, a PE ratio of -8.67 and a beta of 1.35. Pennsylvania Real Estate Investment Trust has a one year low of $9.32 and a one year high of $18.19.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The business had revenue of $89.20 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 EPS. equities research analysts forecast that Pennsylvania Real Estate Investment Trust will post 1.65 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. King Street Capital Management L.P. boosted its stake in shares of Pennsylvania Real Estate Investment Trust by 240.0% in the third quarter. King Street Capital Management L.P. now owns 1,700,000 shares of the real estate investment trust’s stock worth $17,833,000 after buying an additional 1,200,000 shares during the last quarter. RMR Advisors LLC boosted its stake 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 buying an additional 20,000 shares during the last quarter. Stevens Capital Management LP raised its holdings in Pennsylvania Real Estate Investment Trust by 33.8% in the 3rd quarter. Stevens Capital Management LP now owns 116,415 shares of the real estate investment trust’s stock worth $1,221,000 after purchasing an additional 29,396 shares during the period. 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 worth $30,370,000 after purchasing an additional 60,384 shares during the period. Finally, Highbridge Capital Management LLC raised its holdings in Pennsylvania Real Estate Investment Trust by 346.6% in the 3rd quarter. Highbridge Capital Management LLC now owns 401,958 shares of the real estate investment trust’s stock worth $4,217,000 after purchasing an additional 311,958 shares during the period.

TRADEMARK VIOLATION NOTICE: “Pennsylvania Real Estate Investment Trust (PEI) Lowered to “Hold” at ValuEngine” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/02/02/pennsylvania-real-estate-investment-trust-pei-lowered-to-hold-at-valuengine.html.

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)

Receive News & Ratings for Pennsylvania Real Estate Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennsylvania Real Estate Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply