Wall Street analysts predict that Pennsylvania R.E.I.T. (NYSE:PEI) will report sales of $96.44 million for the current quarter, according to Zacks. Three analysts have made estimates for Pennsylvania R.E.I.T.’s earnings. The lowest sales estimate is $91.68 million and the highest is $102.95 million. Pennsylvania R.E.I.T. reported sales of $92.74 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4%. The firm is expected to report its next quarterly earnings results on Tuesday, July 25th.
According to Zacks, analysts expect that Pennsylvania R.E.I.T. will report full-year sales of $96.44 million for the current fiscal year, with estimates ranging from $382.12 million to $420.43 million. For the next year, analysts forecast that the firm will post sales of $414.89 million per share, with estimates ranging from $400.89 million to $431.27 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Pennsylvania R.E.I.T..
Pennsylvania R.E.I.T. (NYSE:PEI) last posted its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.02. The business had revenue of $89.26 million during the quarter, compared to analyst estimates of $97.98 million. Pennsylvania R.E.I.T. had a negative net margin of 6.65% and a negative return on equity of 3.62%. Pennsylvania R.E.I.T.’s revenue was down 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 earnings per share.
Several equities research analysts have recently commented on PEI shares. Barclays PLC reissued a “sell” rating on shares of Pennsylvania R.E.I.T. in a report on Wednesday, February 15th. SunTrust Banks, Inc. downgraded Pennsylvania R.E.I.T. from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a report on Thursday, January 19th. TheStreet downgraded Pennsylvania R.E.I.T. from a “c-” rating to a “d+” rating in a report on Friday, March 24th. JPMorgan Chase & Co. cut their price objective on Pennsylvania R.E.I.T. from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, March 22nd. Finally, Zacks Investment Research raised Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Pennsylvania R.E.I.T. presently has an average rating of “Hold” and an average target price of $18.80.
Pennsylvania R.E.I.T. (NYSE:PEI) traded up 1.35% during mid-day trading on Wednesday, reaching $12.01. 288,684 shares of the company’s stock were exchanged. Pennsylvania R.E.I.T. has a 52-week low of $11.75 and a 52-week high of $25.67. The stock has a 50-day moving average price of $14.40 and a 200 day moving average price of $17.30. The company’s market cap is $837.59 million.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 7.09%. The ex-dividend date is Tuesday, May 30th. Pennsylvania R.E.I.T.’s dividend payout ratio is -133.33%.
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A number of large investors have recently made changes to their positions in the stock. BlackRock Group LTD increased its stake in shares of Pennsylvania R.E.I.T. by 4.8% in the third quarter. BlackRock Group LTD now owns 519,521 shares of the real estate investment trust’s stock valued at $11,964,000 after buying an additional 23,966 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Pennsylvania R.E.I.T. by 3.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 57,086 shares of the real estate investment trust’s stock valued at $1,082,000 after buying an additional 1,850 shares in the last quarter. AMP Capital Investors Ltd increased its stake in shares of Pennsylvania R.E.I.T. by 13.9% in the third quarter. AMP Capital Investors Ltd now owns 79,642 shares of the real estate investment trust’s stock valued at $1,818,000 after buying an additional 9,700 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Pennsylvania R.E.I.T. during the fourth quarter valued at about $1,613,000. Finally, KRV Capital LP increased its stake in shares of Pennsylvania R.E.I.T. by 22.3% in the third quarter. KRV Capital LP now owns 823,279 shares of the real estate investment trust’s stock valued at $18,960,000 after buying an additional 150,018 shares in the last quarter. 93.69% of the stock is owned by institutional investors and hedge funds.
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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