Pennsylvania R.E.I.T. (NYSE:PEI) Price Target Raised to $12.00 at Citigroup

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Pennsylvania R.E.I.T. (NYSE:PEI) had its price target upped by stock analysts at Citigroup from $10.50 to $12.00 in a research report issued on Tuesday, June 19th. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price objective points to a potential upside of 9.19% from the stock’s current price.

Other research analysts have also recently issued reports about the company. ValuEngine cut Pennsylvania R.E.I.T. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 13th. Zacks Investment Research upgraded Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a research note on Thursday, June 14th. Stifel Nicolaus decreased their price target on Pennsylvania R.E.I.T. from $11.50 to $10.50 and set a “hold” rating on the stock in a research note on Wednesday, May 2nd. Boenning Scattergood restated a “hold” rating on shares of Pennsylvania R.E.I.T. in a research note on Thursday, May 3rd. Finally, Barclays reduced their price objective on Pennsylvania R.E.I.T. from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 13th. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Pennsylvania R.E.I.T. has a consensus rating of “Hold” and an average price target of $11.07.

Pennsylvania R.E.I.T. opened at $10.99 on Tuesday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 2.17, a quick ratio of 2.24 and a current ratio of 2.24. Pennsylvania R.E.I.T. has a one year low of $8.86 and a one year high of $13.02. The company has a market capitalization of $778.82 million, a P/E ratio of 6.58 and a beta of 1.25.

Pennsylvania R.E.I.T. (NYSE:PEI) last released its quarterly earnings results on Tuesday, May 1st. The real estate investment trust reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.48). Pennsylvania R.E.I.T. had a negative return on equity of 4.08% and a negative net margin of 8.84%. The firm had revenue of $85.39 million for the quarter, compared to analyst estimates of $89.44 million. analysts anticipate that Pennsylvania R.E.I.T. will post 1.52 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in PEI. Global X Management Co. LLC acquired a new stake in shares of Pennsylvania R.E.I.T. in the first quarter valued at $9,181,000. Guggenheim Capital LLC increased its holdings in Pennsylvania R.E.I.T. by 373.6% in the fourth quarter. Guggenheim Capital LLC now owns 292,838 shares of the real estate investment trust’s stock valued at $3,482,000 after buying an additional 231,007 shares during the last quarter. Barclays PLC increased its holdings in Pennsylvania R.E.I.T. by 275.0% in the first quarter. Barclays PLC now owns 229,649 shares of the real estate investment trust’s stock valued at $2,216,000 after buying an additional 168,413 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Pennsylvania R.E.I.T. by 12.6% in the fourth 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 buying an additional 130,535 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Pennsylvania R.E.I.T. by 12.7% in the fourth 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 buying an additional 119,781 shares during the last quarter.

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. PREIT'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.

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

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