Pennsylvania Real Estate Investment Trust (PEI) Upgraded by BidaskClub to “Hold”

Pennsylvania Real Estate Investment Trust (NYSE:PEI) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Monday, July 31st.

A number of other research analysts also recently issued reports on the stock. Barclays PLC reissued an “underweight” rating and set a $14.00 price objective (down from $15.00) on shares of Pennsylvania Real Estate Investment Trust in a research report on Wednesday, April 19th. Zacks Investment Research upgraded shares of Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Boenning Scattergood cut shares of Pennsylvania Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a report on Monday, May 15th. ValuEngine cut shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Stifel Nicolaus started coverage on shares of Pennsylvania Real Estate Investment Trust in a report on Friday, July 14th. They set a “hold” rating and a $11.50 target price on the stock. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $16.70.

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) traded down 2.93% during trading on Monday, reaching $10.92. 2,107,136 shares of the company’s stock traded hands. The company’s 50-day moving average is $11.65 and its 200 day moving average is $13.60. Pennsylvania Real Estate Investment Trust has a 52-week low of $10.00 and a 52-week high of $25.43. The company’s market cap is $762.51 million.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. The company had revenue of $89.25 million for the quarter, compared to the consensus estimate of $95.60 million. Pennsylvania Real Estate Investment Trust had a negative net margin of 18.13% and a negative return on equity of 9.06%. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 earnings per share. Equities analysts forecast that Pennsylvania Real Estate Investment Trust will post ($0.04) EPS for the current year.

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In other news, Director George J. Alburger, Jr. bought 5,000 shares of Pennsylvania Real Estate Investment Trust stock in a transaction that occurred on Monday, June 12th. The stock was bought at an average cost of $11.78 per share, with a total value of $58,900.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $58,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert F. Mccadden purchased 10,000 shares of the company’s stock in a transaction on Monday, June 19th. The stock was acquired at an average price of $10.88 per share, with a total value of $108,800.00. The disclosure for this purchase can be found here. Insiders have bought a total of 35,000 shares of company stock valued at $391,000 in the last ninety days. Insiders own 4.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of PEI. Mckinley Capital Management LLC Delaware purchased a new position in Pennsylvania Real Estate Investment Trust during the first quarter worth approximately $132,000. Independence Advisors LLC purchased a new position in Pennsylvania Real Estate Investment Trust during the second quarter worth approximately $1,390,000. Dupont Capital Management Corp increased its position in Pennsylvania Real Estate Investment Trust by 77.4% in the second quarter. Dupont Capital Management Corp now owns 11,727 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 5,117 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new position in Pennsylvania Real Estate Investment Trust during the first quarter worth approximately $202,000. Finally, SG Americas Securities LLC increased its position in Pennsylvania Real Estate Investment Trust by 46.3% in the second quarter. SG Americas Securities LLC now owns 14,618 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 4,624 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

About Pennsylvania Real Estate Investment Trust

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).

Analyst Recommendations for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

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