ValuEngine upgraded shares of Pennsylvania R.E.I.T. (NYSE:PEI) from a strong sell rating to a sell rating in a research note published on Saturday.
PEI has been the subject of several other reports. Zacks Investment Research cut Pennsylvania R.E.I.T. from a hold rating to a sell rating in a report on Tuesday, July 17th. Boenning Scattergood reiterated a hold rating on shares of Pennsylvania R.E.I.T. in a report on Thursday, May 3rd. Citigroup upped their target price on Pennsylvania R.E.I.T. from $10.50 to $12.00 and gave the stock a neutral rating in a report on Tuesday, June 19th. Finally, Stifel Nicolaus lowered their target price on Pennsylvania R.E.I.T. from $11.50 to $10.50 and set a hold rating for the company in a report on Wednesday, May 2nd. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Pennsylvania R.E.I.T. currently has an average rating of Hold and an average price target of $11.00.
PEI opened at $10.78 on Friday. Pennsylvania R.E.I.T. has a 52-week low of $8.86 and a 52-week high of $12.52. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $712.98 million, a P/E ratio of 6.46 and a beta of 1.16.
Pennsylvania R.E.I.T. (NYSE:PEI) last posted its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.40). Pennsylvania R.E.I.T. had a negative net margin of 3.69% and a negative return on equity of 2.21%. The business had revenue of $81.76 million for the quarter, compared to analysts’ expectations of $88.32 million. research analysts forecast that Pennsylvania R.E.I.T. will post 1.52 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Tuesday, September 4th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 7.79%. The ex-dividend date is Friday, August 31st. Pennsylvania R.E.I.T.’s dividend payout ratio is 50.30%.
Several hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of Pennsylvania R.E.I.T. by 5.8% in the 2nd quarter. BlackRock Inc. now owns 11,418,011 shares of the real estate investment trust’s stock worth $125,484,000 after acquiring an additional 622,763 shares in the last quarter. Presima Inc. raised its position in shares of Pennsylvania R.E.I.T. by 19.5% in the 2nd quarter. Presima Inc. now owns 2,505,500 shares of the real estate investment trust’s stock worth $27,535,000 after acquiring an additional 408,200 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Pennsylvania R.E.I.T. by 2.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,833,993 shares of the real estate investment trust’s stock worth $20,155,000 after acquiring an additional 52,455 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Pennsylvania R.E.I.T. by 5.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,217,751 shares of the real estate investment trust’s stock worth $13,384,000 after acquiring an additional 61,299 shares in the last quarter. Finally, Global X Management Co. LLC bought a new position in shares of Pennsylvania R.E.I.T. in the 1st quarter worth $9,181,000. Institutional investors and hedge funds own 99.60% of the company’s stock.
About Pennsylvania R.E.I.T.
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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