Shares of Pennsylvania R.E.I.T. (NYSE:PEI) have been given an average rating of “Hold” by the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $10.75.
PEI has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Pennsylvania R.E.I.T. from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Thursday, January 4th. ValuEngine downgraded Pennsylvania R.E.I.T. from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Boenning Scattergood reiterated a “hold” rating on shares of Pennsylvania R.E.I.T. in a report on Friday, February 16th. Stifel Nicolaus restated a “hold” rating and issued a $11.50 price target (down from $12.00) on shares of Pennsylvania R.E.I.T. in a report on Thursday, February 15th. Finally, SunTrust Banks restated a “hold” rating and issued a $10.00 price target on shares of Pennsylvania R.E.I.T. in a report on Tuesday, April 3rd.
Institutional investors have recently made changes to their positions in the business. Fox Run Management L.L.C. bought a new stake in shares of Pennsylvania R.E.I.T. in the fourth quarter worth about $139,000. Crossmark Global Holdings Inc. bought a new stake in shares of Pennsylvania R.E.I.T. in the third quarter worth about $146,000. Alps Advisors Inc. bought a new stake in shares of Pennsylvania R.E.I.T. in the fourth quarter worth about $227,000. Verition Fund Management LLC bought a new stake in shares of Pennsylvania R.E.I.T. in the fourth quarter worth about $241,000. Finally, OppenheimerFunds Inc. bought a new stake in shares of Pennsylvania R.E.I.T. in the fourth quarter worth about $266,000.
Pennsylvania R.E.I.T. (NYSE:PEI) last released its quarterly earnings data on Wednesday, February 14th. The real estate investment trust reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.53). The company had revenue of $97.97 million during the quarter, compared to the consensus estimate of $93.85 million. Pennsylvania R.E.I.T. had a negative net margin of 7.99% and a negative return on equity of 3.60%. sell-side analysts predict that Pennsylvania R.E.I.T. will post 1.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were issued a $0.21 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.84 annualized dividend and a dividend yield of 8.69%. Pennsylvania R.E.I.T.’s dividend payout ratio (DPR) is currently 50.30%.
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About Pennsylvania R.E.I.T.
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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