Zacks Investment Research Upgrades Pennsylvania R.E.I.T. (PEI) to “Hold”

Zacks Investment Research upgraded shares of Pennsylvania R.E.I.T. (NYSE:PEI) from a sell rating to a hold rating in a research report report published on Friday morning.

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. “

Other research analysts also recently issued research reports about the company. ValuEngine downgraded Pennsylvania R.E.I.T. from a hold rating to a sell rating in a report on Thursday, August 2nd. Citigroup reduced their price target on Pennsylvania R.E.I.T. from $12.00 to $11.50 and set a neutral rating for the company in a report on Thursday, August 16th. Finally, Barclays reissued a sell rating and issued a $9.00 price target on shares of Pennsylvania R.E.I.T. in a report on Sunday, October 14th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. The stock presently has an average rating of Hold and an average target price of $10.67.

Shares of NYSE PEI opened at $8.97 on Friday. Pennsylvania R.E.I.T. has a 1-year low of $8.57 and a 1-year high of $12.52. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.44. The stock has a market capitalization of $616.46 million, a PE ratio of 5.68 and a beta of 1.10.

Pennsylvania R.E.I.T. (NYSE:PEI) last issued its earnings results on Tuesday, October 30th. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.01). The company had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $87.12 million. Pennsylvania R.E.I.T. had a negative return on equity of 3.53% and a negative net margin of 6.91%. On average, research analysts anticipate that Pennsylvania R.E.I.T. will post 1.54 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 9.36%. The ex-dividend date of this dividend is Friday, November 30th. Pennsylvania R.E.I.T.’s payout ratio is currently 50.30%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stifel Financial Corp acquired a new stake in Pennsylvania R.E.I.T. during the first quarter valued at approximately $100,000. Amalgamated Bank acquired a new stake in Pennsylvania R.E.I.T. during the second quarter valued at approximately $117,000. Fox Run Management L.L.C. acquired a new stake in Pennsylvania R.E.I.T. during the second quarter valued at approximately $124,000. Shufro Rose & Co. LLC acquired a new stake in Pennsylvania R.E.I.T. during the second quarter valued at approximately $125,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Pennsylvania R.E.I.T. during the second quarter valued at approximately $127,000. Hedge funds and other institutional investors own 91.12% of the company’s stock.

Pennsylvania R.E.I.T. Company Profile

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. REIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in the densely-populated eastern U.S.

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Analyst Recommendations for Pennsylvania R.E.I.T. (NYSE:PEI)

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