Pennsylvania R.E.I.T. (NYSE:PEI) – Research analysts at Boenning Scattergood decreased their Q1 2018 earnings per share (EPS) estimates for shares of Pennsylvania R.E.I.T. in a note issued to investors on Friday, Zacks Investment Research reports. Boenning Scattergood analyst F. Van. Dijkum now anticipates that the real estate investment trust will earn $0.34 per share for the quarter, down from their previous forecast of $0.40. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Pennsylvania R.E.I.T.’s Q2 2018 earnings at $0.34 EPS, Q3 2018 earnings at $0.38 EPS, Q4 2018 earnings at $0.48 EPS, FY2018 earnings at $1.54 EPS, Q2 2019 earnings at $0.38 EPS, Q3 2019 earnings at $0.40 EPS, Q4 2019 earnings at $0.53 EPS and FY2019 earnings at $1.64 EPS.
Several other research firms have also recently commented 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 target on the stock in a research note on Thursday, January 4th. ValuEngine cut Pennsylvania R.E.I.T. from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Goldman Sachs Group began coverage on Pennsylvania R.E.I.T. in a report on Friday, January 19th. They issued a “sell” rating and a $10.00 price objective for the company. Citigroup lowered their price objective on Pennsylvania R.E.I.T. from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Finally, Barclays lowered their price objective on Pennsylvania R.E.I.T. from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday. Four analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $12.21.
Shares of Pennsylvania R.E.I.T. (PEI) traded down $0.34 on Monday, hitting $9.84. The company’s stock had a trading volume of 844,081 shares, compared to its average volume of 1,260,000. The firm has a market capitalization of $687.90, a PE ratio of -11.06 and a beta of 1.22. Pennsylvania R.E.I.T. has a 12 month low of $9.30 and a 12 month high of $15.42. 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. (NYSE:PEI) last announced its quarterly earnings data on Wednesday, February 14th. The real estate investment trust reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.53). Pennsylvania R.E.I.T. had a negative net margin of 7.99% and a negative return on equity of 3.60%. The business had revenue of $97.97 million during the quarter, compared to analysts’ expectations of $93.85 million.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 8.54%. The ex-dividend date is Wednesday, February 28th. Pennsylvania R.E.I.T.’s dividend payout ratio (DPR) is -94.38%.
Hedge funds have recently modified their holdings of the stock. King Street Capital Management L.P. lifted its position in Pennsylvania R.E.I.T. 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 purchasing an additional 1,200,000 shares during the period. RMR Advisors LLC lifted its position in Pennsylvania R.E.I.T. 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 purchasing an additional 20,000 shares during the period. Stevens Capital Management LP lifted its position in Pennsylvania R.E.I.T. by 33.8% in the third 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 lifted its position in Pennsylvania R.E.I.T. by 2.3% in the second 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 lifted its position in Pennsylvania R.E.I.T. by 346.6% in the third 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.
About Pennsylvania R.E.I.T.
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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