Pennsylvania Real Estate Investment Trust (PEI) Releases FY17 Earnings Guidance

Pennsylvania Real Estate Investment Trust (NYSE:PEI) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.66 – $1.72 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.67.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) traded down 1.44% on Friday, reaching $10.24. 2,247,136 shares of the company’s stock traded hands. The firm’s market capitalization is $715.03 million. The firm’s 50 day moving average price is $11.54 and its 200 day moving average price is $13.36. Pennsylvania Real Estate Investment Trust has a 52-week low of $9.84 and a 52-week high of $25.43.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.39 earnings per share for the quarter, topping the Zacks’ 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 quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 EPS. On average, analysts predict that Pennsylvania Real Estate Investment Trust will post ($0.27) EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 8.20%. The ex-dividend date is Wednesday, August 30th. Pennsylvania Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -64.12%.

PEI has been the topic of several recent research reports. Boenning Scattergood downgraded shares of Pennsylvania Real Estate Investment Trust from an outperform rating to a neutral rating in a report on Monday, May 15th. BidaskClub raised shares of Pennsylvania Real Estate Investment Trust from a sell rating to a hold rating in a report on Monday, July 31st. Zacks Investment Research downgraded shares of Pennsylvania Real Estate Investment Trust from a hold rating to a sell rating in a report on Wednesday, July 12th. ValuEngine downgraded shares of Pennsylvania Real Estate Investment Trust from a buy rating to a hold rating in a report on Friday, June 2nd. Finally, Barclays PLC dropped their price objective on shares of Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an underweight rating on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $15.50.

In related news, CEO Joseph F. Coradino acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were bought at an average cost of $11.57 per share, for a total transaction of $115,700.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George J. Alburger, Jr. acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was bought at an average price of $11.78 per share, for a total transaction of $58,900.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $58,900. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 35,000 shares of company stock worth $391,000. 4.40% of the stock is owned by company insiders.

COPYRIGHT VIOLATION NOTICE: “Pennsylvania Real Estate Investment Trust (PEI) Releases FY17 Earnings Guidance” was first published by BNB Daily and is the sole property of of BNB Daily. If you are reading this article on another domain, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this article can be accessed at https://www.baseball-news-blog.com/2017/08/19/pennsylvania-real-estate-investment-trust-pei-issues-fy17-earnings-guidance-updated.html.

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).

Earnings History and Estimates for Pennsylvania Real Estate Investment Trust (NYSE:PEI)

Receive News & Ratings for Pennsylvania Real Estate Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennsylvania Real Estate Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply