Pennsylvania R.E.I.T. (PEI) PT Lowered to $11.50 at Citigroup

Pennsylvania R.E.I.T. (NYSE:PEI) had its price target lowered by stock analysts at Citigroup from $12.00 to $11.50 in a report released on Thursday. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price objective would suggest a potential upside of 11.76% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. ValuEngine cut shares of Pennsylvania R.E.I.T. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 13th. Stifel Nicolaus cut their price objective on shares of Pennsylvania R.E.I.T. from $11.50 to $10.50 and set a “hold” rating on the stock in a research report on Wednesday, May 2nd. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Pennsylvania R.E.I.T. in a research report on Thursday, May 3rd. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Pennsylvania R.E.I.T. currently has an average rating of “Hold” and a consensus price target of $11.00.

PEI stock traded down $0.16 during mid-day trading on Thursday, reaching $10.29. 995,867 shares of the stock traded hands, compared to its average volume of 1,121,539. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.32. Pennsylvania R.E.I.T. has a one year low of $8.86 and a one year high of $12.52. The stock has a market capitalization of $712.98 million, a price-to-earnings ratio of 6.16 and a beta of 1.16.

Pennsylvania R.E.I.T. (NYSE:PEI) last posted its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported ($0.51) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.40). Pennsylvania R.E.I.T. had a negative net margin of 3.69% and a negative return on equity of 2.21%. The firm had revenue of $81.76 million for the quarter, compared to the consensus estimate of $88.32 million. equities research analysts expect that Pennsylvania R.E.I.T. will post 1.52 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in shares of Pennsylvania R.E.I.T. during the second quarter valued at $147,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of Pennsylvania R.E.I.T. by 26.1% during the second quarter. Metropolitan Life Insurance Co. NY now owns 29,721 shares of the real estate investment trust’s stock valued at $327,000 after purchasing an additional 6,151 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Pennsylvania R.E.I.T. during the second quarter valued at $127,000. Point72 Asset Management L.P. purchased a new stake in shares of Pennsylvania R.E.I.T. during the second quarter valued at $315,000. Finally, Kalos Management Inc. boosted its stake in shares of Pennsylvania R.E.I.T. by 7.3% during the second quarter. Kalos Management Inc. now owns 95,665 shares of the real estate investment trust’s stock valued at $1,051,000 after purchasing an additional 6,514 shares during the period. 99.60% of the stock is owned by hedge funds and other institutional investors.

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. REIT'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.

Further Reading: Asset Allocation and Your Retirement

Analyst Recommendations for Pennsylvania R.E.I.T. (NYSE:PEI)

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