Equities researchers at Stifel Nicolaus began coverage on shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) in a report released on Friday, July 14th, Marketbeat reports. The brokerage set a “hold” rating and a $11.50 price target on the real estate investment trust’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 5.31% from the company’s previous close.
Other analysts also recently issued reports about the company. TheStreet downgraded Pennsylvania Real Estate Investment Trust from a “c-” rating to a “d+” rating in a report on Friday, March 24th. ValuEngine downgraded Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. J P Morgan Chase & Co lowered their target price on Pennsylvania Real Estate Investment Trust from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, March 22nd. Finally, Boenning Scattergood downgraded Pennsylvania Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a research note on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $16.70.
Pennsylvania Real Estate Investment Trust (NYSE PEI) opened at 10.92 on Friday. The stock’s 50 day moving average price is $11.65 and its 200-day moving average price is $13.60. The stock’s market capitalization is $762.51 million. Pennsylvania Real Estate Investment Trust has a 52-week low of $10.00 and a 52-week high of $25.43.
Pennsylvania Real Estate Investment Trust (NYSE:PEI) last announced 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. Pennsylvania Real Estate Investment Trust had a negative return on equity of 9.06% and a negative net margin of 18.13%. The firm had revenue of $89.25 million during the quarter, compared to the consensus estimate of $95.60 million. During the same period in the prior year, the firm earned $0.43 EPS. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities analysts expect that Pennsylvania Real Estate Investment Trust will post ($0.04) EPS for the current fiscal year.
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In other Pennsylvania Real Estate Investment Trust news, Director John Joseph Roberts bought 10,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were purchased at an average price of $10.76 per share, with a total value of $107,600.00. Following the completion of the acquisition, the director now directly owns 33,060 shares of the company’s stock, valued at approximately $355,725.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George J. Alburger, Jr. purchased 5,000 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were acquired at an average cost of $11.78 per share, for a total transaction of $58,900.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $58,900. The disclosure for this purchase can be found here. Insiders acquired 35,000 shares of company stock worth $391,000 in the last three months. 4.40% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Pennsylvania Real Estate Investment Trust by 1.2% in the second quarter. Vanguard Group Inc. now owns 11,487,090 shares of the real estate investment trust’s stock worth $130,033,000 after buying an additional 130,986 shares in the last quarter. BlackRock Inc. raised its position in Pennsylvania Real Estate Investment Trust by 1.6% in the second quarter. BlackRock Inc. now owns 10,389,468 shares of the real estate investment trust’s stock worth $117,609,000 after buying an additional 159,545 shares in the last quarter. APG Asset Management US Inc. raised its position in Pennsylvania Real Estate Investment Trust by 6.9% in the first quarter. APG Asset Management US Inc. now owns 3,640,300 shares of the real estate investment trust’s stock worth $55,114,000 after buying an additional 233,469 shares in the last quarter. State Street Corp raised its position in Pennsylvania Real Estate Investment Trust by 2.6% in the first quarter. State Street Corp now owns 2,622,882 shares of the real estate investment trust’s stock worth $39,704,000 after buying an additional 67,473 shares in the last quarter. Finally, Northern Trust Corp raised its position in Pennsylvania Real Estate Investment Trust by 2.8% in the second quarter. Northern Trust Corp now owns 2,232,312 shares of the real estate investment trust’s stock worth $25,270,000 after buying an additional 61,797 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.
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).
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