Pennsylvania R.E.I.T. (NYSE:PEI) has been given a $7.00 price objective by investment analysts at Citigroup in a research note issued on Tuesday, February 26th. The firm presently has a “hold” rating on the real estate investment trust’s stock. Citigroup‘s target price points to a potential upside of 14.75% from the stock’s previous close.
A number of other equities research analysts have also recently commented on the stock. Boenning Scattergood reissued a “hold” rating on shares of Pennsylvania R.E.I.T. in a research note on Friday, February 15th. Zacks Investment Research downgraded shares of Pennsylvania R.E.I.T. from a “hold” rating to a “sell” rating in a research report on Saturday, February 16th. JPMorgan Chase & Co. downgraded shares of Pennsylvania R.E.I.T. from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $10.00 to $8.00 in a research report on Wednesday, December 19th. ValuEngine downgraded shares of Pennsylvania R.E.I.T. from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 1st. Finally, Barclays reaffirmed a “sell” rating and issued a $6.00 price objective on shares of Pennsylvania R.E.I.T. in a report on Wednesday, January 16th. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $8.30.
Shares of NYSE PEI traded up $0.02 during midday trading on Tuesday, reaching $6.10. The company had a trading volume of 1,017,633 shares, compared to its average volume of 1,812,858. The stock has a market cap of $433.68 million, a P/E ratio of 3.96 and a beta of 1.52. Pennsylvania R.E.I.T. has a 1 year low of $5.51 and a 1 year high of $12.45. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 3.04.
Pennsylvania R.E.I.T. (NYSE:PEI) last posted its quarterly earnings results on Wednesday, February 13th. The real estate investment trust reported ($1.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($1.77). Pennsylvania R.E.I.T. had a negative return on equity of 16.89% and a negative net margin of 30.84%. The company had revenue of $95.33 million during the quarter, compared to analysts’ expectations of $96.88 million. As a group, sell-side analysts forecast that Pennsylvania R.E.I.T. will post 1.25 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of PEI. Northern Trust Corp lifted its holdings in shares of Pennsylvania R.E.I.T. by 1.6% during the second quarter. Northern Trust Corp now owns 1,267,840 shares of the real estate investment trust’s stock worth $13,934,000 after buying an additional 19,799 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in Pennsylvania R.E.I.T. during the 3rd quarter worth approximately $179,000. Presima Inc. lifted its holdings in Pennsylvania R.E.I.T. by 12.5% during the 3rd quarter. Presima Inc. now owns 2,819,700 shares of the real estate investment trust’s stock worth $26,674,000 after purchasing an additional 314,200 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Pennsylvania R.E.I.T. by 5.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,936,041 shares of the real estate investment trust’s stock worth $18,314,000 after purchasing an additional 102,048 shares during the last quarter. Finally, Cedar Capital LLC acquired a new stake in Pennsylvania R.E.I.T. during the 3rd quarter worth approximately $1,546,000. Hedge funds and other institutional investors own 82.28% of the company’s stock.
About Pennsylvania R.E.I.T.
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.
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