SunTrust Banks Lowers Pennsylvania R.E.I.T. (NYSE:PEI) to Sell

SunTrust Banks lowered shares of Pennsylvania R.E.I.T. (NYSE:PEI) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. SunTrust Banks currently has $4.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $5.00.

A number of other brokerages also recently issued reports on PEI. Zacks Investment Research raised Pennsylvania R.E.I.T. from a sell rating to a hold rating in a research note on Wednesday, December 4th. ValuEngine raised Pennsylvania R.E.I.T. from a sell rating to a hold rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price objective on Pennsylvania R.E.I.T. from $6.00 to $5.50 and set an underweight rating for the company in a research report on Tuesday, December 3rd. Finally, Citigroup downgraded Pennsylvania R.E.I.T. from a neutral rating to a sell rating and cut their price objective for the stock from $6.00 to $4.50 in a research report on Monday, September 23rd. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $5.25.

Shares of PEI traded down $0.13 during midday trading on Wednesday, reaching $4.98. The company had a trading volume of 146,165 shares, compared to its average volume of 1,028,915. Pennsylvania R.E.I.T. has a 1-year low of $4.34 and a 1-year high of $7.93. The stock has a market cap of $396.49 million, a PE ratio of 3.23 and a beta of 1.18. The firm has a 50 day simple moving average of $5.29 and a 200-day simple moving average of $5.58. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.60.

Pennsylvania R.E.I.T. (NYSE:PEI) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). Pennsylvania R.E.I.T. had a negative return on equity of 15.16% and a negative net margin of 21.74%. The company had revenue of $80.88 million during the quarter, compared to analyst estimates of $81.50 million. As a group, sell-side analysts anticipate that Pennsylvania R.E.I.T. will post 1.1 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of PEI. Psagot Investment House Ltd. purchased a new stake in Pennsylvania R.E.I.T. during the third quarter worth approximately $6,142,000. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD purchased a new stake in Pennsylvania R.E.I.T. during the third quarter worth approximately $48,790,000. Vanguard Group Inc. lifted its stake in Pennsylvania R.E.I.T. by 5.2% during the second quarter. Vanguard Group Inc. now owns 11,252,055 shares of the real estate investment trust’s stock worth $73,138,000 after purchasing an additional 559,316 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in Pennsylvania R.E.I.T. during the second quarter worth approximately $3,357,000. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD purchased a new stake in Pennsylvania R.E.I.T. during the third quarter worth approximately $17,532,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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. PREIT'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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Analyst Recommendations for Pennsylvania R.E.I.T. (NYSE:PEI)

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