Equities analysts predict that Pennsylvania Real Estate Investment Trust (NYSE:PEI) will announce sales of $95.64 million for the current quarter, Zacks reports. Four analysts have issued estimates for Pennsylvania Real Estate Investment Trust’s earnings, with estimates ranging from $90.18 million to $104.17 million. Pennsylvania Real Estate Investment Trust reported sales of $93.25 million during the same quarter last year, which indicates a positive year over year growth rate of 2.6%. The company is scheduled to report its next earnings results on Wednesday, November 1st.

On average, analysts expect that Pennsylvania Real Estate Investment Trust will report full year sales of $95.64 million for the current financial year, with estimates ranging from $368.96 million to $420.43 million. For the next fiscal year, analysts anticipate that the firm will post sales of $400.56 million per share, with estimates ranging from $374.98 million to $431.27 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Pennsylvania Real Estate Investment Trust.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last released its earnings results on Tuesday, August 8th. 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. The firm had revenue of $89.25 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $0.43 EPS.

Several research firms have weighed in on PEI. Zacks Investment Research raised shares of Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. ValuEngine downgraded shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Stifel Nicolaus began coverage on shares of Pennsylvania Real Estate Investment Trust in a research note on Friday, July 14th. They issued a “hold” rating and a $11.50 price target for the company. Boenning Scattergood reaffirmed a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research note on Thursday, August 10th. Finally, Barclays PLC decreased their price target on shares of Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $14.93.

Several large investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Pennsylvania Real Estate Investment Trust during the second quarter worth about $196,000. Public Employees Retirement System of Ohio increased its position in shares of Pennsylvania Real Estate Investment Trust by 0.9% during the second quarter. Public Employees Retirement System of Ohio now owns 83,543 shares of the real estate investment trust’s stock worth $946,000 after acquiring an additional 754 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Pennsylvania Real Estate Investment Trust during the second quarter worth about $171,000. Kalos Management Inc. bought a new stake in shares of Pennsylvania Real Estate Investment Trust during the second quarter worth about $598,000. Finally, BB&T Investment Services Inc. bought a new stake in shares of Pennsylvania Real Estate Investment Trust during the second quarter worth about $207,000. 98.97% of the stock is owned by institutional investors.

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Pennsylvania Real Estate Investment Trust (NYSE:PEI) traded up 0.41% during trading on Tuesday, reaching $9.88. The company’s stock had a trading volume of 567,940 shares. Pennsylvania Real Estate Investment Trust has a 12 month low of $9.75 and a 12 month high of $24.14. The company’s market cap is $689.89 million. The stock’s 50-day moving average is $10.65 and its 200 day moving average is $12.23.

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).

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

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