Pennsylvania R.E.I.T. (NYSE:PEI) had its price target lowered by Citigroup from $11.50 to $10.00 in a research note published on Tuesday morning. The brokerage currently has a hold rating on the real estate investment trust’s stock.
Several other equities analysts also recently commented on PEI. Zacks Investment Research downgraded shares of Pennsylvania R.E.I.T. from a hold rating to a sell rating in a research note on Tuesday, July 17th. ValuEngine upgraded shares of Pennsylvania R.E.I.T. from a sell rating to a hold rating in a research note on Friday, October 26th. Finally, Barclays restated a sell rating and issued a $9.00 price target on shares of Pennsylvania R.E.I.T. in a research note on Sunday, October 14th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Pennsylvania R.E.I.T. currently has an average rating of Hold and a consensus price target of $10.42.
Shares of PEI opened at $8.84 on Tuesday. The stock has a market capitalization of $616.46 million, a PE ratio of 5.29 and a beta of 1.10. Pennsylvania R.E.I.T. has a fifty-two week low of $8.57 and a fifty-two week high of $12.52. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.74 and a current ratio of 0.74.
Pennsylvania R.E.I.T. (NYSE:PEI) last issued its quarterly earnings data 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 the consensus estimate of $87.12 million. Pennsylvania R.E.I.T. had a negative net margin of 6.91% and a negative return on equity of 3.53%. Equities research analysts anticipate that Pennsylvania R.E.I.T. will post 1.54 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.84 annualized dividend and a dividend yield of 9.50%. Pennsylvania R.E.I.T.’s dividend payout ratio (DPR) is presently 50.30%.
Several hedge funds have recently added to or reduced their stakes in PEI. Stifel Financial Corp acquired a new position in shares of Pennsylvania R.E.I.T. in the first quarter valued at about $100,000. Amalgamated Bank acquired a new position in shares of Pennsylvania R.E.I.T. in the second quarter valued at about $117,000. Fox Run Management L.L.C. acquired a new position in shares of Pennsylvania R.E.I.T. in the second quarter valued at about $124,000. Shufro Rose & Co. LLC acquired a new position in shares of Pennsylvania R.E.I.T. in the second quarter valued at about $125,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Pennsylvania R.E.I.T. in the second quarter valued at about $127,000. Institutional investors and hedge funds 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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