ValuEngine upgraded shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

A number of other equities research analysts also recently issued reports on PEI. Boenning Scattergood reissued a hold rating on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, August 10th. Citigroup Inc. dropped their target price on shares of Pennsylvania Real Estate Investment Trust from $13.50 to $12.50 and set a neutral rating for the company in a report on Monday, August 14th. Barclays PLC dropped their target price on shares of Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an underweight rating for the company in a report on Tuesday, August 15th. Zacks Investment Research raised shares of Pennsylvania Real Estate Investment Trust from a sell rating to a hold rating in a report on Saturday, August 19th. Finally, BidaskClub raised shares of Pennsylvania Real Estate Investment Trust from a sell rating to a hold rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $14.08.

Pennsylvania Real Estate Investment Trust (PEI) traded down 2.32% during midday trading on Monday, hitting $10.96. The company’s stock had a trading volume of 602,902 shares. Pennsylvania Real Estate Investment Trust has a 12 month low of $9.75 and a 12 month high of $22.23. The firm’s market cap is $765.30 million. The company’s 50 day moving average price is $10.35 and its 200 day moving average price is $11.88.

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

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A number of institutional investors have recently modified their holdings of PEI. Dupont Capital Management Corp boosted its holdings in 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 worth $133,000 after buying an additional 5,117 shares during the period. SG Americas Securities LLC boosted its holdings in Pennsylvania Real Estate Investment Trust by 46.3% in the 2nd quarter. SG Americas Securities LLC now owns 14,618 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 4,624 shares during the period. Piedmont Investment Advisors LLC bought a new position in Pennsylvania Real Estate Investment Trust in the 2nd quarter worth $171,000. BlueCrest Capital Management Ltd boosted its holdings in Pennsylvania Real Estate Investment Trust by 13.6% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 15,152 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 1,818 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in Pennsylvania Real Estate Investment Trust by 3.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,400 shares of the real estate investment trust’s stock worth $186,000 after buying an additional 550 shares during the period. 98.97% of the stock is owned by institutional investors.

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

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