Pennsylvania Real Estate Investment Trust (PEI) Price Target Lowered to $12.00 at Citigroup Inc.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) had its target price trimmed by Citigroup Inc. from $12.50 to $12.00 in a research report sent to investors on Friday. The firm currently has a neutral rating on the real estate investment trust’s stock.

A number of other research firms also recently weighed in on PEI. Zacks Investment Research downgraded Pennsylvania Real Estate Investment Trust from a hold rating to a sell rating in a research report on Friday, July 21st. Boenning Scattergood reiterated a hold rating on shares of Pennsylvania Real Estate Investment Trust in a research report on Friday, November 3rd. Stifel Nicolaus set a $11.00 price objective on Pennsylvania Real Estate Investment Trust and gave the company a hold rating in a research report on Sunday, September 10th. ValuEngine upgraded Pennsylvania Real Estate Investment Trust from a hold rating to a buy rating in a research report on Monday, October 2nd. Finally, BidaskClub upgraded Pennsylvania Real Estate Investment Trust from a sell rating to a hold rating in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Pennsylvania Real Estate Investment Trust has a consensus rating of Hold and an average price target of $13.83.

Pennsylvania Real Estate Investment Trust (NYSE PEI) traded down $0.34 on Friday, reaching $10.80. The company’s stock had a trading volume of 1,802,300 shares, compared to its average volume of 1,463,245. The firm has a market capitalization of $778.79, a P/E ratio of 6.44 and a beta of 1.29. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.91 and a quick ratio of 1.91. Pennsylvania Real Estate Investment Trust has a 12-month low of $9.32 and a 12-month high of $20.58.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last released its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The firm had revenue of $89.20 million during the quarter, compared to the consensus estimate of $98.85 million. Pennsylvania Real Estate Investment Trust had a negative return on equity of 7.60% and a negative net margin of 16.35%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 earnings per share. research analysts predict that Pennsylvania Real Estate Investment Trust will post 1.65 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.78%. Pennsylvania Real Estate Investment Trust’s payout ratio is currently -67.74%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Pennsylvania Real Estate Investment Trust by 16.6% in the second quarter. JPMorgan Chase & Co. now owns 920,121 shares of the real estate investment trust’s stock valued at $10,416,000 after purchasing an additional 131,067 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Pennsylvania Real Estate Investment Trust by 92.2% in the first quarter. Bank of America Corp DE now owns 530,229 shares of the real estate investment trust’s stock valued at $8,028,000 after purchasing an additional 254,310 shares in the last quarter. Dupont Capital Management Corp lifted its holdings in shares of Pennsylvania Real Estate Investment Trust by 77.4% in the second quarter. Dupont Capital Management Corp now owns 11,727 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 5,117 shares in the last quarter. Westpac Banking Corp lifted its holdings in shares of Pennsylvania Real Estate Investment Trust by 34.6% in the second quarter. Westpac Banking Corp now owns 305,422 shares of the real estate investment trust’s stock valued at $3,457,000 after purchasing an additional 78,462 shares in the last quarter. Finally, King Street Capital Management L.P. purchased a new stake in shares of Pennsylvania Real Estate Investment Trust in the second quarter valued at $5,660,000. Institutional investors own 99.35% of the company’s stock.

Pennsylvania Real Estate Investment Trust Company Profile

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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