Pennsylvania Real Estate Investment Trust (NYSE:PEI) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.66 - $1.72 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.67.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Pennsylvania Real Estate Investment Trust from a hold rating to a sell rating in a report on Wednesday, July 12th. Stifel Nicolaus assumed coverage on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, July 14th. They issued a hold rating and a $11.50 price objective on the stock. Boenning Scattergood lowered shares of Pennsylvania Real Estate Investment Trust from an outperform rating to a neutral rating in a report on Monday, May 15th. Barclays PLC restated an underweight rating and issued a $14.00 price objective (down from $15.00) on shares of Pennsylvania Real Estate Investment Trust in a report on Wednesday, April 19th. Finally, ValuEngine lowered shares of Pennsylvania Real Estate Investment Trust from a buy rating to a hold rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock has an average rating of Hold and an average price target of $16.70.
Pennsylvania Real Estate Investment Trust (NYSE PEI) traded down 2.47% on Tuesday, hitting $11.84. 1,235,415 shares of the company were exchanged. Pennsylvania Real Estate Investment Trust has a 52-week low of $10.00 and a 52-week high of $25.43. The stock’s market cap is $825.73 million. The firm has a 50 day moving average of $11.54 and a 200-day moving average of $13.84.
Pennsylvania Real Estate Investment Trust (NYSE:PEI) last posted its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. The firm had revenue of $89.25 million for the quarter, compared to analysts’ expectations of $95.60 million. Pennsylvania Real Estate Investment Trust had a negative net margin of 3.49% and a negative return on equity of 1.78%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. On average, equities analysts expect that Pennsylvania Real Estate Investment Trust will post ($0.04) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.84 annualized dividend and a yield of 7.09%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio is presently -182.61%.
In related news, Director George J. Alburger, Jr. purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were purchased at an average cost of $11.78 per share, with a total value of $58,900.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $58,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert F. Mccadden purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The stock was bought at an average cost of $10.88 per share, for a total transaction of $108,800.00. The disclosure for this purchase can be found here. Insiders purchased 35,000 shares of company stock worth $391,000 over the last ninety days. 4.40% of the stock is currently owned by corporate insiders.
COPYRIGHT VIOLATION NOTICE: “Pennsylvania Real Estate Investment Trust (NYSE:PEI) Updates FY17 Earnings Guidance” was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this story on another site, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this story can be read at https://stocknewstimes.com/2017/08/08/pennsylvania-real-estate-investment-trust-nysepei-updates-fy17-earnings-guidance.html.
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).
Receive News & Ratings for Pennsylvania Real Estate Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennsylvania Real Estate Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.
