Brokerages Anticipate Pennsylvania R.E.I.T. (PEI) Will Announce Quarterly Sales of $89.16 Million

Analysts expect Pennsylvania R.E.I.T. (NYSE:PEI) to announce $89.16 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Pennsylvania R.E.I.T.’s earnings, with the highest sales estimate coming in at $91.79 million and the lowest estimate coming in at $86.52 million. Pennsylvania R.E.I.T. reported sales of $88.42 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.8%. The firm is expected to report its next quarterly earnings report on Tuesday, April 24th.

According to Zacks, analysts expect that Pennsylvania R.E.I.T. will report full-year sales of $89.16 million for the current financial year, with estimates ranging from $358.40 million to $378.99 million. For the next financial year, analysts expect that the firm will report sales of $381.84 million per share, with estimates ranging from $372.55 million to $394.18 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Pennsylvania R.E.I.T..

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Pennsylvania R.E.I.T. (NYSE:PEI) last released its quarterly earnings data on Wednesday, February 14th. The real estate investment trust reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.53). The company had revenue of $97.97 million for the quarter, compared to analysts’ expectations of $93.85 million. Pennsylvania R.E.I.T. had a negative net margin of 7.99% and a negative return on equity of 3.60%.

PEI has been the subject of a number of recent research reports. ValuEngine lowered Pennsylvania R.E.I.T. from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Zacks Investment Research upgraded Pennsylvania R.E.I.T. from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Thursday, January 4th. Goldman Sachs started coverage on Pennsylvania R.E.I.T. in a research report on Friday, January 19th. They set a “sell” rating and a $10.00 target price on the stock. Stifel Nicolaus restated a “hold” rating and set a $11.50 target price (down from $12.00) on shares of Pennsylvania R.E.I.T. in a research report on Thursday, February 15th. Finally, Boenning Scattergood restated a “hold” rating on shares of Pennsylvania R.E.I.T. in a research report on Friday, February 16th. Four research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $11.25.

Several large investors have recently bought and sold shares of PEI. Presima Inc. grew its position in shares of Pennsylvania R.E.I.T. by 361.4% during the 3rd quarter. Presima Inc. now owns 2,059,300 shares of the real estate investment trust’s stock valued at $21,602,000 after acquiring an additional 1,613,000 shares during the period. King Street Capital Management L.P. grew its position in shares of Pennsylvania R.E.I.T. by 240.0% during the 3rd quarter. King Street Capital Management L.P. now owns 1,700,000 shares of the real estate investment trust’s stock valued at $17,833,000 after acquiring an additional 1,200,000 shares during the period. Victory Capital Management Inc. grew its position in shares of Pennsylvania R.E.I.T. by 24.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,779,525 shares of the real estate investment trust’s stock valued at $21,159,000 after acquiring an additional 350,456 shares during the period. Highbridge Capital Management LLC grew its position in shares of Pennsylvania R.E.I.T. by 346.6% during the 3rd quarter. Highbridge Capital Management LLC now owns 401,958 shares of the real estate investment trust’s stock valued at $4,217,000 after acquiring an additional 311,958 shares during the period. Finally, Guggenheim Capital LLC grew its position in shares of Pennsylvania R.E.I.T. by 373.6% during the 4th quarter. Guggenheim Capital LLC now owns 292,838 shares of the real estate investment trust’s stock valued at $3,482,000 after acquiring an additional 231,007 shares during the period.

Pennsylvania R.E.I.T. stock traded down $0.16 during midday trading on Friday, hitting $9.50. The company’s stock had a trading volume of 760,325 shares, compared to its average volume of 1,213,671. The stock has a market cap of $665.72, a price-to-earnings ratio of -10.67 and a beta of 1.22. Pennsylvania R.E.I.T. has a twelve month low of $9.27 and a twelve month high of $15.42. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.87 and a quick ratio of 0.87.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.84%. The ex-dividend date was Wednesday, February 28th. Pennsylvania R.E.I.T.’s dividend payout ratio (DPR) is presently -94.38%.

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About Pennsylvania R.E.I.T.

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

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