Pennsylvania Real Estate Investment Trust (NYSE:PEI) has earned an average recommendation of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $14.08.

Several equities research analysts have issued reports on PEI shares. Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. ValuEngine downgraded Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Stifel Nicolaus started coverage on Pennsylvania Real Estate Investment Trust in a report on Friday, July 14th. They set a “hold” rating and a $11.50 price objective on the stock. Boenning Scattergood restated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, August 10th. Finally, Barclays PLC dropped their price objective on Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Tuesday, August 15th.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) opened at 10.70 on Friday. Pennsylvania Real Estate Investment Trust has a one year low of $9.75 and a one year high of $24.14. The firm’s market capitalization is $747.15 million. The company has a 50-day moving average price of $10.75 and a 200-day moving average price of $12.38.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last announced its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The business had revenue of $89.25 million for the quarter, compared to the consensus estimate of $95.60 million. Pennsylvania Real Estate Investment Trust had a negative return on equity of 9.06% and a negative net margin of 18.13%. The company’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the business posted $0.43 EPS. On average, equities research analysts anticipate that Pennsylvania Real Estate Investment Trust will post ($0.74) EPS for the current year.

In other Pennsylvania Real Estate Investment Trust news, CFO Robert F. Mccadden acquired 10,000 shares of the company’s stock in a transaction on Monday, June 19th. The shares were bought at an average cost of $10.88 per share, for a total transaction of $108,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 1.5% in the 1st quarter. Ameriprise Financial Inc. now owns 393,917 shares of the real estate investment trust’s stock valued at $5,964,000 after acquiring an additional 5,974 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 92.2% in the 1st quarter. Bank of America Corp DE now owns 530,229 shares of the real estate investment trust’s stock valued at $8,028,000 after acquiring an additional 254,310 shares during the last quarter. Stephens Inc. AR increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 9.7% in the 1st quarter. Stephens Inc. AR now owns 123,059 shares of the real estate investment trust’s stock valued at $1,863,000 after acquiring an additional 10,865 shares during the last quarter. Dupont Capital Management Corp increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 77.4% in the 2nd quarter. Dupont Capital Management Corp now owns 11,727 shares of the real estate investment trust’s stock valued at $133,000 after acquiring an additional 5,117 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Pennsylvania Real Estate Investment Trust by 15,806.0% in the 1st quarter. Sei Investments Co. now owns 122,317 shares of the real estate investment trust’s stock valued at $1,852,000 after acquiring an additional 121,548 shares during the last quarter. Institutional investors and hedge funds own 99.29% of the company’s stock.

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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).

Analyst Recommendations for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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