Pennsylvania R.E.I.T. to Post Q2 2019 Earnings of $0.27 Per Share, SunTrust Banks Forecasts (NYSE:PEI)

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Pennsylvania R.E.I.T. (NYSE:PEI) – Analysts at SunTrust Banks cut their Q2 2019 earnings estimates for shares of Pennsylvania R.E.I.T. in a research report issued on Monday, June 10th. SunTrust Banks analyst K. Kim 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 $0.30. SunTrust Banks also issued estimates for Pennsylvania R.E.I.T.’s Q3 2019 earnings at $0.37 EPS and Q4 2019 earnings at $0.36 EPS.

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

Other research analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Pennsylvania R.E.I.T. from a “strong sell” rating to a “sell” rating in a report on Saturday, May 4th. Zacks Investment Research upgraded shares of Pennsylvania R.E.I.T. from a “strong sell” rating to a “hold” rating in a report on Thursday, May 9th. Boenning Scattergood upgraded shares of Pennsylvania R.E.I.T. from a “neutral” rating to an “outperform” rating in a report on Monday, May 6th. Barclays restated a “sell” rating and issued a $5.00 price target on shares of Pennsylvania R.E.I.T. in a report on Tuesday, April 16th. Finally, Citigroup set a $7.00 price target on shares of Pennsylvania R.E.I.T. and gave the stock a “hold” rating in a report on Tuesday, February 26th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $6.67.

NYSE PEI opened at $6.83 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 3.38. The stock has a market capitalization of $517.67 million, a PE ratio of 4.44 and a beta of 1.22. Pennsylvania R.E.I.T. has a 12 month low of $5.46 and a 12 month high of $12.45.

Hedge funds have recently made changes to their positions in the company. Bank of Montreal Can raised its holdings in shares of Pennsylvania R.E.I.T. by 41.4% in the 4th quarter. Bank of Montreal Can now owns 6,583 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 1,928 shares during the period. Arizona State Retirement System boosted its position in Pennsylvania R.E.I.T. by 6.2% during the 4th quarter. Arizona State Retirement System now owns 98,749 shares of the real estate investment trust’s stock worth $587,000 after acquiring an additional 5,746 shares during the period. Rhumbline Advisers raised its stake in shares of Pennsylvania R.E.I.T. by 17.9% in the 4th quarter. Rhumbline Advisers now owns 208,728 shares of the real estate investment trust’s stock worth $1,240,000 after buying an additional 31,651 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in shares of Pennsylvania R.E.I.T. during the fourth quarter worth $145,000. Finally, Virginia Retirement Systems ET AL purchased a new position in shares of Pennsylvania R.E.I.T. during the fourth quarter valued at $324,000. Institutional investors and hedge funds own 67.27% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 12.30%. The ex-dividend date is Friday, May 31st. 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.

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

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