Stifel Nicolaus set a $11.00 price objective on Pennsylvania Real Estate Investment Trust (NYSE:PEI) in a research note issued to investors on Sunday morning. The firm currently has a hold rating on the real estate investment trust’s stock.

Other analysts have also recently issued research reports about the company. Boenning Scattergood reaffirmed a hold rating on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, August 10th. BidaskClub raised Pennsylvania Real Estate Investment Trust from a sell rating to a hold rating in a research report on Monday, July 31st. Zacks Investment Research raised Pennsylvania Real Estate Investment Trust from a sell rating to a hold rating in a research report on Saturday, August 19th. ValuEngine cut Pennsylvania Real Estate Investment Trust from a buy rating to a hold rating in a research report on Friday, June 2nd. Finally, Citigroup Inc. reduced their price target on Pennsylvania Real Estate Investment Trust from $13.50 to $12.50 and set a neutral rating for the company in a research report on Monday, August 14th. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The company currently has an average rating of Hold and an average price target of $14.93.

Shares of Pennsylvania Real Estate Investment Trust (NYSE PEI) opened at 10.28 on Friday. The stock has a 50 day moving average price of $10.95 and a 200-day moving average price of $12.49. Pennsylvania Real Estate Investment Trust has a 1-year low of $9.75 and a 1-year high of $24.14. The firm’s market cap is $717.82 million.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last announced its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Pennsylvania Real Estate Investment Trust had a negative return on equity of 9.06% and a negative net margin of 18.13%. The company had revenue of $89.25 million during the quarter, compared to analysts’ expectations of $95.60 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts expect that Pennsylvania Real Estate Investment Trust will post ($0.74) earnings per share for the current fiscal year.

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In other Pennsylvania Real Estate Investment Trust news, CFO Robert F. Mccadden acquired 10,000 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were acquired at an average cost of $10.88 per share, for a total transaction of $108,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Pennsylvania Real Estate Investment Trust by 1.2% in the second quarter. Vanguard Group Inc. now owns 11,487,090 shares of the real estate investment trust’s stock worth $130,033,000 after purchasing an additional 130,986 shares during the period. BlackRock Inc. increased its stake in shares of Pennsylvania Real Estate Investment Trust by 1.6% in the second quarter. BlackRock Inc. now owns 10,389,468 shares of the real estate investment trust’s stock worth $117,609,000 after purchasing an additional 159,545 shares during the period. State Street Corp increased its stake in shares of Pennsylvania Real Estate Investment Trust by 2.3% in the second quarter. State Street Corp now owns 2,683,266 shares of the real estate investment trust’s stock worth $30,370,000 after purchasing an additional 60,384 shares during the period. Northern Trust Corp increased its stake in shares of Pennsylvania Real Estate Investment Trust by 2.8% in the second quarter. Northern Trust Corp now owns 2,232,312 shares of the real estate investment trust’s stock worth $25,270,000 after purchasing an additional 61,797 shares during the period. Finally, Morgan Stanley increased its stake in shares of Pennsylvania Real Estate Investment Trust by 667.8% in the first quarter. Morgan Stanley now owns 2,186,212 shares of the real estate investment trust’s stock worth $33,099,000 after purchasing an additional 1,901,460 shares during the period. Institutional investors and hedge funds own 99.29% of the company’s stock.

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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