Pennsylvania R.E.I.T. (PEI) Receives Consensus Rating of “Hold” from Analysts

Pennsylvania R.E.I.T. (NYSE:PEI) has been assigned an average recommendation of “Hold” from the eight analysts that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $9.90.

PEI has been the topic of a number of research analyst reports. Citigroup cut their price target on shares of Pennsylvania R.E.I.T. from $12.00 to $11.50 and set a “neutral” rating on the stock in a research report on Thursday, August 16th. ValuEngine raised shares of Pennsylvania R.E.I.T. from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 18th. Zacks Investment Research raised shares of Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, Barclays reaffirmed a “sell” rating and set a $9.00 price target on shares of Pennsylvania R.E.I.T. in a research report on Sunday, October 14th.

PEI traded down $0.13 during trading on Friday, reaching $8.08. 4,267 shares of the stock traded hands, compared to its average volume of 953,087. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.44. The stock has a market capitalization of $578.52 million, a P/E ratio of 4.85 and a beta of 1.10. Pennsylvania R.E.I.T. has a 12 month low of $7.91 and a 12 month high of $12.52.

Pennsylvania R.E.I.T. (NYSE:PEI) last issued its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.01). The firm had revenue of $83.90 million for the quarter, compared to the consensus estimate of $87.12 million. Pennsylvania R.E.I.T. had a negative net margin of 6.91% and a negative return on equity of 3.53%. As a group, research analysts predict that Pennsylvania R.E.I.T. will post 1.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 10.40%. Pennsylvania R.E.I.T.’s dividend payout ratio (DPR) is presently 50.30%.

Hedge funds have recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its stake in shares of Pennsylvania R.E.I.T. by 4.7% during the 3rd quarter. Teachers Advisors LLC now owns 142,616 shares of the real estate investment trust’s stock worth $1,349,000 after purchasing an additional 6,343 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Pennsylvania R.E.I.T. by 35.6% in the 3rd quarter. Macquarie Group Ltd. now owns 30,500 shares of the real estate investment trust’s stock worth $289,000 after buying an additional 8,000 shares during the period. Mackenzie Financial Corp bought a new position in Pennsylvania R.E.I.T. in the 3rd quarter worth approximately $6,344,000. MetLife Investment Advisors LLC boosted its holdings in Pennsylvania R.E.I.T. by 64.5% in the 3rd quarter. MetLife Investment Advisors LLC now owns 53,566 shares of the real estate investment trust’s stock worth $507,000 after buying an additional 20,996 shares during the period. Finally, Veritable L.P. boosted its holdings in Pennsylvania R.E.I.T. by 7.8% in the 3rd quarter. Veritable L.P. now owns 190,078 shares of the real estate investment trust’s stock worth $1,798,000 after buying an additional 13,700 shares during the period. 90.26% of the stock is currently owned by 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.

See Also: Cost of equity and a company’s balance sheet

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

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