Wall Street analysts forecast that Pennsylvania R.E.I.T. (NYSE:PEI) will report $89.44 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Pennsylvania R.E.I.T.’s earnings, with the highest sales estimate coming in at $91.79 million and the lowest estimate coming in at $86.52 million. Pennsylvania R.E.I.T. posted sales of $88.42 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.2%. The firm is expected to report its next quarterly earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Pennsylvania R.E.I.T. will report full-year sales of $89.44 million for the current year, with estimates ranging from $361.17 million to $378.99 million. For the next financial year, analysts expect that the firm will report sales of $382.41 million per share, with estimates ranging from $372.55 million to $394.18 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Pennsylvania R.E.I.T..
Pennsylvania R.E.I.T. (NYSE:PEI) last posted its earnings results on Wednesday, February 14th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.53). Pennsylvania R.E.I.T. had a negative return on equity of 3.60% and a negative net margin of 7.99%. The company had revenue of $97.97 million for the quarter, compared to analyst estimates of $93.85 million.
Several brokerages recently issued reports on PEI. Zacks Investment Research upgraded Pennsylvania R.E.I.T. from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Thursday, January 4th. ValuEngine downgraded Pennsylvania R.E.I.T. from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Goldman Sachs started coverage on Pennsylvania R.E.I.T. in a research report on Friday, January 19th. They set a “sell” rating and a $10.00 price target for the company. Boenning Scattergood reaffirmed a “hold” rating on shares of Pennsylvania R.E.I.T. in a research report on Friday, February 16th. Finally, Citigroup reduced their price target on Pennsylvania R.E.I.T. from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Four analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Pennsylvania R.E.I.T. presently has a consensus rating of “Hold” and a consensus price target of $11.07.
Several institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in shares of Pennsylvania R.E.I.T. by 24.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,779,525 shares of the real estate investment trust’s stock worth $21,159,000 after purchasing an additional 350,456 shares in the last quarter. King Street Capital Management L.P. raised its stake in Pennsylvania R.E.I.T. by 240.0% in 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 acquiring an additional 1,200,000 shares during the period. Bank of New York Mellon Corp raised its stake in Pennsylvania R.E.I.T. by 12.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,169,301 shares of the real estate investment trust’s stock valued at $13,902,000 after acquiring an additional 130,535 shares during the period. Dimensional Fund Advisors LP raised its stake in Pennsylvania R.E.I.T. by 4.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,076,519 shares of the real estate investment trust’s stock valued at $11,293,000 after acquiring an additional 44,250 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in Pennsylvania R.E.I.T. by 12.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,063,416 shares of the real estate investment trust’s stock valued at $12,645,000 after acquiring an additional 119,781 shares during the period.
Shares of PEI traded up $0.03 on Monday, hitting $9.94. The company’s stock had a trading volume of 1,371,362 shares, compared to its average volume of 1,031,586. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.87 and a current ratio of 0.87. Pennsylvania R.E.I.T. has a fifty-two week low of $9.20 and a fifty-two week high of $15.34. The firm has a market capitalization of $697.39, a PE ratio of 5.95 and a beta of 1.21.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 8.45%. The ex-dividend date was Wednesday, February 28th. Pennsylvania R.E.I.T.’s dividend payout ratio (DPR) is currently 50.30%.
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Pennsylvania R.E.I.T. 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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