Wall Street brokerages predict that Pennsylvania R.E.I.T. (NYSE:PEI) will post earnings per share (EPS) of $0.36 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Pennsylvania R.E.I.T.’s earnings, with the lowest EPS estimate coming in at $0.33 and the highest estimate coming in at $0.39. Pennsylvania R.E.I.T. reported earnings per share of $0.42 in the same quarter last year, which suggests a negative year over year growth rate of 14.3%. The company is expected to issue its next quarterly earnings results on Wednesday, November 7th.
On average, analysts expect that Pennsylvania R.E.I.T. will report full year earnings of $1.51 per share for the current year, with EPS estimates ranging from $1.44 to $1.53. For the next financial year, analysts anticipate that the firm will post earnings of $1.49 per share, with EPS estimates ranging from $1.47 to $1.53. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Pennsylvania R.E.I.T..
Pennsylvania R.E.I.T. (NYSE:PEI) last announced its earnings results on Thursday, August 2nd. The real estate investment trust reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.40). The firm had revenue of $81.76 million during the quarter, compared to analysts’ expectations of $88.32 million. Pennsylvania R.E.I.T. had a negative net margin of 3.69% and a negative return on equity of 2.21%.
PEI has been the subject of several analyst reports. Citigroup lowered their target price on shares of Pennsylvania R.E.I.T. from $12.00 to $11.50 and set a “neutral” rating for the company in a report on Thursday, August 16th. ValuEngine upgraded shares of Pennsylvania R.E.I.T. from a “strong sell” rating to a “sell” rating in a report on Saturday, August 18th. Finally, Zacks Investment Research upgraded shares of Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a report on Thursday, June 14th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $10.83.
Several institutional investors and hedge funds have recently bought and sold shares of the company. US Bancorp DE boosted its position in shares of Pennsylvania R.E.I.T. by 25.5% in the second quarter. US Bancorp DE now owns 24,543 shares of the real estate investment trust’s stock valued at $270,000 after acquiring an additional 4,984 shares during the period. Teachers Insurance & Annuity Association of America boosted its position in shares of Pennsylvania R.E.I.T. by 6.2% in the second quarter. Teachers Insurance & Annuity Association of America now owns 87,599 shares of the real estate investment trust’s stock valued at $963,000 after acquiring an additional 5,087 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Pennsylvania R.E.I.T. by 15.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 43,800 shares of the real estate investment trust’s stock valued at $423,000 after acquiring an additional 5,700 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Pennsylvania R.E.I.T. by 26.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 29,721 shares of the real estate investment trust’s stock valued at $327,000 after acquiring an additional 6,151 shares during the period. Finally, Kalos Management Inc. boosted its position in shares of Pennsylvania R.E.I.T. by 7.3% in the second quarter. Kalos Management Inc. now owns 95,665 shares of the real estate investment trust’s stock valued at $1,051,000 after acquiring an additional 6,514 shares during the period. Hedge funds and other institutional investors own 91.34% of the company’s stock.
Shares of PEI stock traded down $0.01 on Thursday, hitting $9.43. The stock had a trading volume of 703,900 shares, compared to its average volume of 1,114,000. The company has a market cap of $669.30 million, a P/E ratio of 5.65 and a beta of 1.10. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.05 and a quick ratio of 1.05. Pennsylvania R.E.I.T. has a 12-month low of $8.86 and a 12-month high of $12.52.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Tuesday, September 4th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 31st. This represents a $0.84 annualized dividend and a dividend yield of 8.91%. Pennsylvania R.E.I.T.’s payout ratio is 50.30%.
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. REIT'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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