Brokerages Set Pennsylvania R.E.I.T. (NYSE:PEI) PT at $5.83

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Shares of Pennsylvania R.E.I.T. (NYSE:PEI) have been assigned an average rating of “Hold” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.83.

A number of analysts have recently issued reports on PEI shares. ValuEngine upgraded Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Citigroup downgraded Pennsylvania R.E.I.T. from a “neutral” rating to a “sell” rating and dropped their price target for the company from $6.00 to $4.50 in a research report on Monday, September 23rd. Finally, Zacks Investment Research upgraded Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a research report on Thursday.

In other Pennsylvania R.E.I.T. news, Director Leonard I. Korman bought 30,000 shares of Pennsylvania R.E.I.T. stock in a transaction dated Monday, August 26th. The shares were purchased at an average cost of $4.77 per share, with a total value of $143,100.00. Following the completion of the purchase, the director now owns 410,962 shares of the company’s stock, valued at $1,960,288.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles P. Pizzi bought 10,000 shares of Pennsylvania R.E.I.T. stock in a transaction dated Wednesday, September 18th. The shares were acquired at an average cost of $5.34 per share, for a total transaction of $53,400.00. Following the completion of the purchase, the director now directly owns 58,459 shares of the company’s stock, valued at approximately $312,171.06. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 56,700 shares of company stock valued at $286,076. Corporate insiders own 3.10% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Inc. grew its holdings in shares of Pennsylvania R.E.I.T. by 816.1% during the second quarter. Advisor Group Inc. now owns 4,993 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 4,448 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Pennsylvania R.E.I.T. by 119.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,250 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 3,943 shares during the period. Bank of Montreal Can boosted its holdings in Pennsylvania R.E.I.T. by 76.5% in the 2nd quarter. Bank of Montreal Can now owns 10,711 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 4,644 shares during the period. Voloridge Investment Management LLC bought a new stake in Pennsylvania R.E.I.T. in the 2nd quarter valued at $78,000. Finally, Tyers Asset Management LLC boosted its holdings in Pennsylvania R.E.I.T. by 43.8% in the 2nd quarter. Tyers Asset Management LLC now owns 11,968 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 3,648 shares during the period. 66.40% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:PEI opened at $5.18 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 3.70. The stock’s fifty day simple moving average is $5.32 and its two-hundred day simple moving average is $6.03. Pennsylvania R.E.I.T. has a 1-year low of $4.34 and a 1-year high of $9.80. The stock has a market cap of $401.71 million, a PE ratio of 3.36 and a beta of 1.22.

Pennsylvania R.E.I.T. (NYSE:PEI) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate 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%. On average, sell-side analysts forecast that Pennsylvania R.E.I.T. will post 1.2 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.21 per share. The ex-dividend date was Friday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 16.22%. Pennsylvania R.E.I.T.’s dividend payout ratio (DPR) is presently 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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