Zacks Investment Research Upgrades Pennsylvania R.E.I.T. (NYSE:PEI) to Buy

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Pennsylvania R.E.I.T. (NYSE:PEI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The firm currently has a $7.25 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 16.19% from the company’s current price.

According to Zacks, “PENNSYLVANIA R.E. INVEST. TR. is a real estate investment trust, engaged in acquiring and holding for investment interests in real estate. “

Other analysts have also issued research reports about the stock. Barclays set a €45.00 ($52.33) price objective on shares of Zalando and gave the stock a “buy” rating in a report on Tuesday, April 16th. Boenning Scattergood reissued a “neutral” rating on shares of Farmers & Merchants Bancorp, Inc. (OH) in a research report on Monday, May 6th. Finally, ValuEngine raised shares of USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $6.81.

Pennsylvania R.E.I.T. stock opened at $6.24 on Wednesday. The company has a debt-to-equity ratio of 3.38, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $484.40 million, a P/E ratio of 4.05 and a beta of 1.17. Pennsylvania R.E.I.T. has a one year low of $5.46 and a one year high of $11.05. The stock’s fifty day simple moving average is $6.48.

Pennsylvania R.E.I.T. (NYSE:PEI) last released 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). The company had revenue of $84.68 million during the quarter, compared to the consensus estimate of $86.85 million. Pennsylvania R.E.I.T. had a negative net margin of 34.03% and a negative return on equity of 20.43%. Equities research analysts forecast that Pennsylvania R.E.I.T. will post 1.25 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of PEI. PNC Financial Services Group Inc. lifted its position in shares of Pennsylvania R.E.I.T. by 32.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,767 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 1,896 shares in the last quarter. Amalgamated Bank bought a new position in shares of Pennsylvania R.E.I.T. during the fourth quarter valued at about $63,000. Magnus Financial Group LLC bought a new position in shares of Pennsylvania R.E.I.T. during the first quarter valued at about $96,000. BNP Paribas Arbitrage SA lifted its position in shares of Pennsylvania R.E.I.T. by 41.7% during the first quarter. BNP Paribas Arbitrage SA now owns 16,163 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 4,755 shares in the last quarter. Finally, NumerixS Investment Technologies Inc bought a new position in shares of Pennsylvania R.E.I.T. during the first quarter valued at about $102,000. 66.69% of the stock is owned by hedge funds and other institutional investors.

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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