Pennsylvania Real Estate Investment Trust (NYSE:PEI) had its target price decreased by Citigroup Inc. from $12.50 to $12.00 in a report issued on Friday. Citigroup Inc. currently has a neutral rating on the real estate investment trust’s stock.

Several other research analysts have also commented on the stock. Stifel Nicolaus restated a hold rating and issued a $11.00 price target on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 12th. ValuEngine lowered shares of Pennsylvania Real Estate Investment Trust from a buy rating to a hold rating in a report on Friday, September 1st. Barclays PLC restated a sell rating and issued a $10.00 price target on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 19th. Mitsubishi UFJ Financial Group lowered shares of Pennsylvania Real Estate Investment Trust from an overweight rating to a neutral rating and cut their price target for the company from $16.00 to $12.00 in a report on Thursday, August 24th. Finally, Zacks Investment Research lowered shares of Pennsylvania Real Estate Investment Trust from a hold rating to a sell rating in a report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Pennsylvania Real Estate Investment Trust currently has a consensus rating of Hold and an average target price of $13.83.

Pennsylvania Real Estate Investment Trust (NYSE PEI) traded up $0.20 during midday trading on Friday, reaching $11.14. 1,987,400 shares of the company traded hands, compared to its average volume of 1,929,248. Pennsylvania Real Estate Investment Trust has a 52-week low of $9.32 and a 52-week high of $20.58. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.91 and a quick ratio of 1.91. The stock has a market capitalization of $778.79, a price-to-earnings ratio of 6.44 and a beta of 1.29.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Pennsylvania Real Estate Investment Trust had a negative net margin of 16.35% and a negative return on equity of 7.60%. The firm had revenue of $89.20 million for the quarter, compared to analyst estimates of $98.85 million. During the same quarter last year, the firm posted $0.48 earnings per share. Pennsylvania Real Estate Investment Trust’s revenue for the quarter was down 9.8% compared to the same quarter last year. sell-side analysts anticipate that Pennsylvania Real Estate Investment Trust will post 1.65 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.54%. Pennsylvania Real Estate Investment Trust’s dividend payout ratio is currently -67.74%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its stake in shares of Pennsylvania Real Estate Investment Trust by 0.4% during the second quarter. Louisiana State Employees Retirement System now owns 28,400 shares of the real estate investment trust’s stock valued at $321,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System raised its stake in shares of Pennsylvania Real Estate Investment Trust by 0.6% during the second quarter. Arizona State Retirement System now owns 36,413 shares of the real estate investment trust’s stock valued at $412,000 after purchasing an additional 200 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of Pennsylvania Real Estate Investment Trust by 3.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 16,400 shares of the real estate investment trust’s stock valued at $186,000 after purchasing an additional 550 shares during the period. Texas Permanent School Fund raised its stake in shares of Pennsylvania Real Estate Investment Trust by 1.2% during the second quarter. Texas Permanent School Fund now owns 50,918 shares of the real estate investment trust’s stock valued at $576,000 after purchasing an additional 613 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Pennsylvania Real Estate Investment Trust by 0.9% in 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 buying an additional 754 shares during the last quarter. Institutional investors own 99.30% of the company’s stock.

Pennsylvania Real Estate Investment Trust Company Profile

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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