Equities analysts expect Pennsylvania R.E.I.T. (NYSE:PEI) to post $67.74 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Pennsylvania R.E.I.T.’s earnings, with the lowest sales estimate coming in at $65.97 million and the highest estimate coming in at $69.50 million. Pennsylvania R.E.I.T. reported sales of $80.88 million during the same quarter last year, which indicates a negative year-over-year growth rate of 16.2%. The company is scheduled to report its next quarterly earnings report on Tuesday, November 3rd.
According to Zacks, analysts expect that Pennsylvania R.E.I.T. will report full-year sales of $270.28 million for the current year, with estimates ranging from $267.35 million to $273.20 million. For the next financial year, analysts forecast that the company will report sales of $270.20 million, with estimates ranging from $270.10 million to $270.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Pennsylvania R.E.I.T..
Pennsylvania R.E.I.T. (NYSE:PEI) last announced its quarterly earnings data on Monday, August 10th. The real estate investment trust reported ($0.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.46). Pennsylvania R.E.I.T. had a negative return on equity of 6.48% and a negative net margin of 8.63%.
A number of equities research analysts recently commented on PEI shares. ValuEngine lowered shares of Pennsylvania R.E.I.T. from a “sell” rating to a “strong sell” rating in a report on Monday, August 3rd. Zacks Investment Research upgraded shares of Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a report on Tuesday, August 18th. Four research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. The company presently has an average rating of “Sell” and a consensus target price of $2.40.
Shares of PEI opened at $0.75 on Thursday. The firm has a market cap of $59.96 million, a price-to-earnings ratio of -1.06 and a beta of 1.94. The company has a debt-to-equity ratio of 5.30, a quick ratio of 1.11 and a current ratio of 1.11. Pennsylvania R.E.I.T. has a fifty-two week low of $0.75 and a fifty-two week high of $6.41. The firm has a 50 day moving average price of $1.07 and a 200-day moving average price of $1.23.
A number of institutional investors have recently modified their holdings of PEI. Charles Schwab Investment Management Inc. increased its position in Pennsylvania R.E.I.T. by 67.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,408,501 shares of the real estate investment trust’s stock valued at $1,916,000 after purchasing an additional 567,520 shares during the period. Nuveen Asset Management LLC grew its position in shares of Pennsylvania R.E.I.T. by 161.0% in the 1st quarter. Nuveen Asset Management LLC now owns 804,812 shares of the real estate investment trust’s stock worth $9,189,000 after buying an additional 496,472 shares during the period. Jane Street Group LLC purchased a new stake in shares of Pennsylvania R.E.I.T. in the 2nd quarter worth about $511,000. Lido Advisors LLC grew its position in shares of Pennsylvania R.E.I.T. by 78.0% in the 1st quarter. Lido Advisors LLC now owns 592,725 shares of the real estate investment trust’s stock worth $540,000 after buying an additional 259,725 shares during the period. Finally, State Street Corp boosted its stake in Pennsylvania R.E.I.T. by 8.6% in the 1st quarter. State Street Corp now owns 3,052,730 shares of the real estate investment trust’s stock worth $2,783,000 after purchasing an additional 240,699 shares in the last quarter. 46.33% of the stock is currently owned by institutional investors and hedge funds.
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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