Pennsylvania Real Estate Investment Trust (NYSE:PEI) posted its quarterly earnings results on Tuesday. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02, Bloomberg Earnings reports. Pennsylvania Real Estate Investment Trust had a negative net margin of 3.49% and a negative return on equity of 1.78%. The business had revenue of $89.25 million during the quarter, compared to analysts’ expectations of $95.60 million. During the same quarter last year, the company posted $0.43 earnings per share. The business’s quarterly revenue was down 5.3% on a year-over-year basis. Pennsylvania Real Estate Investment Trust updated its FY17 guidance to $1.66 – $1.72 EPS.

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) traded down 0.25% on Wednesday, hitting $11.81. 168,585 shares of the company traded hands. Pennsylvania Real Estate Investment Trust has a 12 month low of $10.00 and a 12 month high of $25.43. The stock’s 50-day moving average price is $11.54 and its 200-day moving average price is $13.84. The company’s market capitalization is $823.64 million.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.84 annualized dividend and a dividend yield of 7.09%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -182.61%.

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Several research analysts recently issued reports on PEI shares. Zacks Investment Research cut shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a report on Friday, July 21st. BidaskClub raised shares of Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Monday, July 31st. ValuEngine cut shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Barclays PLC reissued an “underweight” rating and set a $14.00 target price (down previously from $15.00) on shares of Pennsylvania Real Estate Investment Trust in a report on Wednesday, April 19th. Finally, Boenning Scattergood cut shares of Pennsylvania Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Pennsylvania Real Estate Investment Trust has a consensus rating of “Hold” and a consensus target price of $16.70.

In other news, CEO Joseph F. Coradino acquired 10,000 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was bought at an average price of $11.57 per share, for a total transaction of $115,700.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director George J. Alburger, Jr. acquired 5,000 shares of the business’s stock in a transaction on Monday, June 12th. The shares were purchased at an average price of $11.78 per share, with a total value of $58,900.00. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $58,900. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 35,000 shares of company stock valued at $391,000. 4.40% of the stock is owned by insiders.

About Pennsylvania Real Estate Investment Trust

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).

Earnings History for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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