Pennsylvania R.E.I.T. (NYSE:PEI) – Equities research analysts at Mitsubishi UFJ Financial Group lowered their Q2 2019 earnings estimates for shares of Pennsylvania R.E.I.T. in a report issued on Tuesday, May 14th. Mitsubishi UFJ Financial Group analyst K. Ford now anticipates that the real estate investment trust will post earnings per share of $0.27 for the quarter, down from their prior estimate of $0.29. Mitsubishi UFJ Financial Group also issued estimates for Pennsylvania R.E.I.T.’s FY2019 earnings at $1.19 EPS, Q1 2020 earnings at $0.28 EPS, Q2 2020 earnings at $0.29 EPS, Q3 2020 earnings at $0.30 EPS, Q4 2020 earnings at $0.37 EPS and FY2020 earnings at $1.24 EPS.

A number of other analysts have also commented on the company. Zacks Investment Research upgraded Pennsylvania R.E.I.T. from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 9th. Boenning Scattergood upgraded Pennsylvania R.E.I.T. from a “neutral” rating to an “outperform” rating in a research report on Monday, May 6th. ValuEngine upgraded Pennsylvania R.E.I.T. from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 4th. Barclays reiterated a “sell” rating and issued a $5.00 price objective on shares of Pennsylvania R.E.I.T. in a research report on Tuesday, April 16th. Finally, Citigroup set a $7.00 price objective on Pennsylvania R.E.I.T. and gave the stock a “hold” rating in a research report on Tuesday, February 26th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Pennsylvania R.E.I.T. presently has a consensus rating of “Hold” and a consensus target price of $6.67.

Shares of PEI stock opened at $7.26 on Thursday. The company has a debt-to-equity ratio of 3.38, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $557.16 million, a P/E ratio of 4.71 and a beta of 1.47. Pennsylvania R.E.I.T. has a 12 month low of $5.46 and a 12 month high of $12.45.

Pennsylvania R.E.I.T. (NYSE:PEI) last released its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.55). The business had revenue of $84.68 million during the quarter, compared to the consensus estimate of $86.85 million. Pennsylvania R.E.I.T. had a negative net margin of 34.03% and a negative return on equity of 20.43%.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in shares of Pennsylvania R.E.I.T. by 1.9% during the 1st quarter. BlackRock Inc. now owns 11,648,170 shares of the real estate investment trust’s stock worth $73,265,000 after buying an additional 219,859 shares during the period. Bank of New York Mellon Corp grew its position in shares of Pennsylvania R.E.I.T. by 0.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,709,303 shares of the real estate investment trust’s stock worth $16,170,000 after buying an additional 13,275 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Pennsylvania R.E.I.T. by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,110,353 shares of the real estate investment trust’s stock worth $10,504,000 after buying an additional 7,754 shares during the period. Geode Capital Management LLC grew its position in shares of Pennsylvania R.E.I.T. by 11.6% during the 1st quarter. Geode Capital Management LLC now owns 997,898 shares of the real estate investment trust’s stock worth $6,276,000 after buying an additional 103,931 shares during the period. Finally, Norges Bank acquired a new position in shares of Pennsylvania R.E.I.T. during the 4th quarter worth about $3,803,000. Hedge funds and other institutional investors own 73.93% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.84 dividend on an annualized basis and a yield of 11.57%. Pennsylvania R.E.I.T.’s payout ratio is 54.55%.

Pennsylvania R.E.I.T. Company Profile

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in the densely-populated eastern U.S.

Further Reading: Convertible Shares

Earnings History and Estimates for Pennsylvania R.E.I.T. (NYSE:PEI)

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