Zacks Investment Research Lowers Pennsylvania R.E.I.T. (NYSE:PEI) to Hold

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Zacks Investment Research lowered shares of Pennsylvania R.E.I.T. (NYSE:PEI) from a buy rating to a hold rating in a research report released on Saturday morning, Zacks.com reports.

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 also recently issued reports about the company. Boenning Scattergood upgraded Pennsylvania R.E.I.T. from a neutral rating to an outperform rating in a research report on Monday, May 6th. ValuEngine downgraded Pennsylvania R.E.I.T. from a sell rating to a strong sell rating in a research report on Wednesday, May 29th. Finally, Barclays reiterated a sell rating and set a $5.00 target price on shares of Pennsylvania R.E.I.T. in a research report on Tuesday, April 16th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $6.81.

Shares of NYSE PEI opened at $5.52 on Friday. The firm has a fifty day moving average price of $6.30. The firm has a market cap of $448.05 million, a price-to-earnings ratio of 3.58 and a beta of 1.19. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 3.70. Pennsylvania R.E.I.T. has a one year low of $5.41 and a one year high of $11.05.

Pennsylvania R.E.I.T. (NYSE:PEI) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.44). The company had revenue of $81.08 million for the quarter. Pennsylvania R.E.I.T. had a negative net margin of 28.45% and a negative return on equity of 18.31%. As a group, research analysts expect that Pennsylvania R.E.I.T. will post 1.24 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 15.22%. Pennsylvania R.E.I.T.’s payout ratio is 54.55%.

Several hedge funds have recently made changes to their positions in PEI. Advisor Group Inc. lifted its position in shares of Pennsylvania R.E.I.T. by 816.1% during the 2nd quarter. Advisor Group Inc. now owns 4,993 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 4,448 shares during the last quarter. Amalgamated Bank bought a new stake in shares of Pennsylvania R.E.I.T. during the 4th quarter worth $63,000. Magnus Financial Group LLC bought a new stake in shares of Pennsylvania R.E.I.T. during the 1st quarter worth $96,000. BNP Paribas Arbitrage SA lifted its position in shares of Pennsylvania R.E.I.T. by 41.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 16,163 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 4,755 shares during the last quarter. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of Pennsylvania R.E.I.T. during the 1st quarter worth $102,000. Institutional investors and hedge funds own 67.85% of the company’s stock.

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. 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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