Zacks: Analysts Anticipate Pennsylvania Real Estate Investment Trust (PEI) to Announce $0.49 EPS

Equities analysts forecast that Pennsylvania Real Estate Investment Trust (NYSE:PEI) will report earnings of $0.49 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Pennsylvania Real Estate Investment Trust’s earnings. The highest EPS estimate is $0.49 and the lowest is $0.48. Pennsylvania Real Estate Investment Trust reported earnings per share of $0.57 during the same quarter last year, which indicates a negative year over year growth rate of 14%. The company is scheduled to announce its next quarterly earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Pennsylvania Real Estate Investment Trust will report full year earnings of $1.65 per share for the current year, with EPS estimates ranging from $1.63 to $1.65. For the next fiscal year, analysts forecast that the company will post earnings of $1.74 per share, with EPS estimates ranging from $1.69 to $1.81. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Pennsylvania Real Estate Investment Trust.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $89.20 million during the quarter, compared to analysts’ expectations of $98.85 million. During the same period in the prior year, the company earned $0.48 earnings per share. The business’s revenue was down 9.8% compared to the same quarter last year.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research note on Friday. ValuEngine lowered shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Citigroup lowered their target price on shares of Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, November 10th. Boenning Scattergood restated a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research report on Friday, November 3rd. Finally, Barclays restated a “sell” rating and set a $10.00 target price on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $13.86.

Pennsylvania Real Estate Investment Trust (NYSE PEI) opened at $11.73 on Friday. Pennsylvania Real Estate Investment Trust has a one year low of $9.32 and a one year high of $19.52. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.79. The stock has a market cap of $813.04, a PE ratio of -9.46 and a beta of 1.35.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.84 annualized dividend and a yield of 7.16%. Pennsylvania Real Estate Investment Trust’s payout ratio is currently -67.74%.

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position 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 valued at $130,033,000 after purchasing an additional 130,986 shares during the last quarter. BlackRock Inc. grew its position 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 valued at $117,609,000 after purchasing an additional 159,545 shares during the last quarter. State Street Corp grew its position 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 valued at $30,370,000 after purchasing an additional 60,384 shares during the last quarter. Northern Trust Corp grew its position 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 valued at $25,270,000 after purchasing an additional 61,797 shares during the last quarter. Finally, Presima Inc. grew its position in shares of Pennsylvania Real Estate Investment Trust by 361.4% in the third quarter. Presima Inc. now owns 2,059,300 shares of the real estate investment trust’s stock valued at $21,602,000 after purchasing an additional 1,613,000 shares during the last quarter. Institutional investors own 97.74% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was originally reported by Transcript Daily and is owned by of Transcript Daily. If you are accessing this article on another website, it was illegally copied and republished in violation of U.S. and international copyright and trademark law. The original version of this article can be accessed at https://transcriptdaily.com/2018/01/06/zacks-analysts-anticipate-pennsylvania-real-estate-investment-trust-pei-to-announce-0-49-eps.html.

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).

Get a free copy of the Zacks research report on Pennsylvania Real Estate Investment Trust (PEI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Pennsylvania Real Estate Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennsylvania Real Estate Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply