$86.85 Million in Sales Expected for Pennsylvania R.E.I.T. (PEI) This Quarter

Equities analysts forecast that Pennsylvania R.E.I.T. (NYSE:PEI) will report sales of $86.85 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Pennsylvania R.E.I.T.’s earnings. The lowest sales estimate is $85.18 million and the highest is $89.00 million. Pennsylvania R.E.I.T. reported sales of $85.39 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.7%. The firm is expected to report its next quarterly earnings results after the market closes on Thursday, May 2nd.

On average, analysts expect that Pennsylvania R.E.I.T. will report full-year sales of $358.90 million for the current fiscal year, with estimates ranging from $354.60 million to $363.00 million. For the next financial year, analysts anticipate that the company will post sales of $367.39 million, with estimates ranging from $358.47 million to $373.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Pennsylvania R.E.I.T..

Pennsylvania R.E.I.T. (NYSE:PEI) last issued its earnings results on Wednesday, February 13th. The real estate investment trust reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($1.77). The business had revenue of $95.33 million for the quarter, compared to the consensus estimate of $96.88 million. Pennsylvania R.E.I.T. had a negative net margin of 30.84% and a negative return on equity of 16.89%.

Several analysts recently issued reports on PEI shares. Zacks Investment Research raised Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th. Citigroup set a $7.00 price objective on Pennsylvania R.E.I.T. and gave the stock a “hold” rating in a research note on Tuesday, February 26th. JPMorgan Chase & Co. downgraded Pennsylvania R.E.I.T. from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $10.00 to $8.00 in a research note on Wednesday, December 19th. Boenning Scattergood reaffirmed a “hold” rating on shares of Pennsylvania R.E.I.T. in a research note on Friday, February 15th. Finally, Barclays reaffirmed a “sell” rating and issued a $6.00 price objective on shares of Pennsylvania R.E.I.T. in a research note on Wednesday, January 16th. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company has a consensus rating of “Sell” and a consensus target price of $7.88.

PEI traded down $0.17 on Friday, hitting $5.83. 33,049 shares of the company’s stock traded hands, compared to its average volume of 1,214,505. The company has a market capitalization of $426.60 million, a PE ratio of 3.79 and a beta of 1.52. Pennsylvania R.E.I.T. has a one year low of $5.51 and a one year high of $12.45. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 3.04.

A number of large investors have recently added to or reduced their stakes in PEI. Bank of Montreal Can increased its holdings in shares of Pennsylvania R.E.I.T. by 41.4% in the fourth quarter. Bank of Montreal Can now owns 6,583 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,928 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Pennsylvania R.E.I.T. by 32.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,767 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 1,896 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Pennsylvania R.E.I.T. during the 4th quarter worth approximately $63,000. Meeder Asset Management Inc. boosted its stake in shares of Pennsylvania R.E.I.T. by 71.1% during the 4th quarter. Meeder Asset Management Inc. now owns 12,671 shares of the real estate investment trust’s stock worth $75,000 after acquiring an additional 5,266 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Pennsylvania R.E.I.T. by 60.9% during the 4th quarter. Hsbc Holdings PLC now owns 18,949 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 7,171 shares in the last quarter. 83.81% 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. PREIT'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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Earnings History and Estimates for Pennsylvania R.E.I.T. (NYSE:PEI)

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