Pennsylvania Real Estate Investment Trust (PEI) Given a $11.00 Price Target at Stifel Nicolaus

Stifel Nicolaus set a $11.00 price target on Pennsylvania Real Estate Investment Trust (NYSE:PEI) in a report issued on Sunday. The firm currently has a hold rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently issued reports on PEI. Boenning Scattergood reiterated a hold rating on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, August 10th. Citigroup Inc. cut their target price on Pennsylvania Real Estate Investment Trust from $13.50 to $12.50 and set a neutral rating on the stock in a report on Monday, August 14th. Barclays PLC cut their target price on Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an underweight rating on the stock in a report on Tuesday, August 15th. ValuEngine cut Pennsylvania Real Estate Investment Trust from a buy rating to a hold rating in a report on Friday, September 1st. Finally, Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a sell rating to a hold rating in a report on Saturday, August 19th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Pennsylvania Real Estate Investment Trust has a consensus rating of Hold and a consensus target price of $14.93.

Shares of Pennsylvania Real Estate Investment Trust (NYSE PEI) traded up 1.413% on Friday, hitting $10.405. 345,642 shares of the stock traded hands. Pennsylvania Real Estate Investment Trust has a 52 week low of $9.75 and a 52 week high of $24.74. The firm’s market capitalization is $726.55 million. The firm’s 50 day moving average is $10.97 and its 200 day moving average is $12.54.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last announced its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. The company had revenue of $89.25 million during the quarter, compared to the consensus estimate of $95.60 million. Pennsylvania Real Estate Investment Trust had a negative net margin of 18.13% and a negative return on equity of 9.06%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS. On average, analysts expect that Pennsylvania Real Estate Investment Trust will post ($0.74) EPS for the current fiscal year.

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In related news, CEO Joseph F. Coradino acquired 10,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were acquired at an average cost of $11.57 per share, for a total transaction of $115,700.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 4.40% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new stake in shares of Pennsylvania Real Estate Investment Trust during the 2nd quarter worth $196,000. Public Employees Retirement System of Ohio raised its stake in shares of Pennsylvania Real Estate Investment Trust by 0.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 83,543 shares of the real estate investment trust’s stock worth $946,000 after purchasing an additional 754 shares during the period. Piedmont Investment Advisors LLC bought a new stake in shares of Pennsylvania Real Estate Investment Trust during the 2nd quarter worth $171,000. Kalos Management Inc. bought a new stake in shares of Pennsylvania Real Estate Investment Trust during the 2nd quarter worth $598,000. Finally, BB&T Investment Services Inc. bought a new stake in shares of Pennsylvania Real Estate Investment Trust during the 2nd quarter worth $207,000. Institutional investors and hedge funds own 99.29% of the company’s stock.

About Pennsylvania Real Estate Investment Trust

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).

Analyst Recommendations for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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