Brokerages expect Pennsylvania R.E.I.T. (NYSE:PEI) to announce $0.34 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Pennsylvania R.E.I.T.’s earnings. The lowest EPS estimate is $0.34 and the highest is $0.35. Pennsylvania R.E.I.T. reported earnings per share of $0.39 in the same quarter last year, which would suggest a negative year-over-year growth rate of 12.8%. The company is expected to issue its next earnings report on Wednesday, November 7th.
On average, analysts expect that Pennsylvania R.E.I.T. will report full-year earnings of $1.51 per share for the current year, with EPS estimates ranging from $1.44 to $1.54. For the next fiscal year, analysts anticipate that the business will report earnings of $1.51 per share, with EPS estimates ranging from $1.47 to $1.56. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Pennsylvania R.E.I.T..
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 consensus estimate of ($0.11) by ($0.40). Pennsylvania R.E.I.T. had a negative return on equity of 2.21% and a negative net margin of 3.69%. The business had revenue of $81.76 million for the quarter, compared to analyst estimates of $88.32 million.
PEI has been the topic of several analyst reports. Citigroup decreased their price objective on Pennsylvania R.E.I.T. from $12.00 to $11.50 and set a “neutral” rating on the stock in a report on Thursday, August 16th. ValuEngine upgraded Pennsylvania R.E.I.T. from a “strong sell” rating to a “sell” rating in a report on Saturday, August 18th. Finally, Zacks Investment Research upgraded Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a report on Thursday, June 14th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $10.83.
PEI stock opened at $10.26 on Monday. 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 quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $718.62 million, a PE ratio of 6.14 and a beta of 1.10.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Tuesday, September 4th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 8.19%. The ex-dividend date of this dividend is Friday, August 31st. Pennsylvania R.E.I.T.’s dividend payout ratio (DPR) is currently 50.30%.
Several institutional investors and hedge funds have recently modified their holdings of PEI. 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 buying an additional 622,763 shares during the period. 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 buying an additional 408,200 shares during the period. Wolverine Asset Management LLC raised its position in shares of Pennsylvania R.E.I.T. by 784.8% in the 2nd quarter. Wolverine Asset Management LLC now owns 291,269 shares of the real estate investment trust’s stock worth $3,201,000 after buying an additional 258,348 shares during the period. Barclays PLC raised its position in shares of Pennsylvania R.E.I.T. by 275.0% in the 1st quarter. Barclays PLC now owns 229,649 shares of the real estate investment trust’s stock worth $2,216,000 after buying an additional 168,413 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Pennsylvania R.E.I.T. by 8.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,156,452 shares of the real estate investment trust’s stock worth $11,160,000 after buying an additional 93,036 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.
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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