Pennsylvania R.E.I.T. (PEI) Expected to Post Earnings of $0.49 Per Share

Equities research analysts predict that Pennsylvania R.E.I.T. (NYSE:PEI) will report $0.49 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Pennsylvania R.E.I.T.’s earnings. The highest EPS estimate is $0.54 and the lowest is $0.47. Pennsylvania R.E.I.T. posted earnings of $0.51 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 3.9%. The company is expected to announce its next earnings report on Wednesday, February 13th.

On average, analysts expect that Pennsylvania R.E.I.T. will report full-year earnings of $1.54 per share for the current year, with EPS estimates ranging from $1.52 to $1.56. For the next financial year, analysts forecast that the company will report earnings of $1.46 per share, with EPS estimates ranging from $1.42 to $1.49. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Pennsylvania R.E.I.T..

Pennsylvania R.E.I.T. (NYSE:PEI) last issued its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ 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 return on equity of 3.53% and a negative net margin of 6.91%.

A number of equities analysts have recently issued reports on the stock. Citigroup reduced their target price on shares of Pennsylvania R.E.I.T. from $11.50 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, November 6th. Zacks Investment Research upgraded shares of Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. ValuEngine lowered shares of Pennsylvania R.E.I.T. from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 1st. Finally, Barclays reiterated a “sell” rating and set a $9.00 target price on shares of Pennsylvania R.E.I.T. in a research report on Sunday, October 14th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Pennsylvania R.E.I.T. presently has a consensus rating of “Hold” and a consensus price target of $10.42.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC lifted its holdings in Pennsylvania R.E.I.T. by 4.7% in the third quarter. Teachers Advisors LLC now owns 142,616 shares of the real estate investment trust’s stock valued at $1,349,000 after buying an additional 6,343 shares during the period. Macquarie Group Ltd. lifted its holdings in Pennsylvania R.E.I.T. by 35.6% in the third quarter. Macquarie Group Ltd. now owns 30,500 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 8,000 shares during the period. Mackenzie Financial Corp acquired a new position in Pennsylvania R.E.I.T. in the third quarter valued at approximately $6,344,000. MetLife Investment Advisors LLC lifted its holdings in Pennsylvania R.E.I.T. by 64.5% in the third quarter. MetLife Investment Advisors LLC now owns 53,566 shares of the real estate investment trust’s stock valued at $507,000 after buying an additional 20,996 shares during the period. Finally, Veritable L.P. lifted its holdings in Pennsylvania R.E.I.T. by 7.8% in the third quarter. Veritable L.P. now owns 190,078 shares of the real estate investment trust’s stock valued at $1,798,000 after buying an additional 13,700 shares during the period. Institutional investors and hedge funds own 90.26% of the company’s stock.

Shares of Pennsylvania R.E.I.T. stock opened at $8.11 on Friday. 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 cap of $571.47 million, a price-to-earnings ratio of 4.86 and a beta of 1.10. Pennsylvania R.E.I.T. has a 1-year low of $7.91 and a 1-year high of $12.52.

The business also recently announced 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 10.36%. Pennsylvania R.E.I.T.’s payout ratio is 50.30%.

About Pennsylvania R.E.I.T.

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.

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Earnings History and Estimates for Pennsylvania R.E.I.T. (NYSE:PEI)

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