Zacks: Analysts Anticipate Pennsylvania Real Estate Investment Trust (PEI) Will Announce Earnings of $0.41 Per Share

Brokerages expect that Pennsylvania Real Estate Investment Trust (NYSE:PEI) will post earnings of $0.41 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Pennsylvania Real Estate Investment Trust’s earnings, with estimates ranging from $0.38 to $0.43. Pennsylvania Real Estate Investment Trust reported earnings per share of ($0.02) during the same quarter last year, which suggests a positive year over year growth rate of 2,150%. The company is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, November 1st.

According to Zacks, analysts expect that Pennsylvania Real Estate Investment Trust will report full year earnings of $1.65 per share for the current financial year, with EPS estimates ranging from $1.61 to $1.68. For the next year, analysts anticipate that the business will post earnings of $1.76 per share, with EPS estimates ranging from $1.69 to $1.86. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Pennsylvania Real Estate Investment Trust.

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

A number of analysts recently issued reports on the company. Zacks Investment Research raised Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. ValuEngine downgraded Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Stifel Nicolaus began coverage on Pennsylvania Real Estate Investment Trust in a research report on Friday, July 14th. They issued a “hold” rating and a $11.50 target price on the stock. Boenning Scattergood reissued a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, August 10th. Finally, Barclays PLC lowered their price target on Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $14.08.

ILLEGAL ACTIVITY NOTICE: “Zacks: Analysts Anticipate Pennsylvania Real Estate Investment Trust (PEI) Will Announce Earnings of $0.41 Per Share” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US & international copyright legislation. The legal version of this piece of content can be accessed at https://ledgergazette.com/2017/10/10/zacks-analysts-anticipate-pennsylvania-real-estate-investment-trust-pei-will-announce-earnings-of-0-41-per-share.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Pennsylvania Real Estate Investment Trust by 1.2% during the second quarter. Vanguard Group Inc. now owns 11,487,090 shares of the real estate investment trust’s stock worth $130,033,000 after buying an additional 130,986 shares during the last quarter. BlackRock Inc. increased its position in Pennsylvania Real Estate Investment Trust by 1.6% during the second quarter. BlackRock Inc. now owns 10,389,468 shares of the real estate investment trust’s stock worth $117,609,000 after buying an additional 159,545 shares during the last quarter. State Street Corp increased its position in Pennsylvania Real Estate Investment Trust by 2.3% during the second quarter. State Street Corp now owns 2,683,266 shares of the real estate investment trust’s stock worth $30,370,000 after buying an additional 60,384 shares during the last quarter. Northern Trust Corp increased its position in Pennsylvania Real Estate Investment Trust by 2.8% during the second quarter. Northern Trust Corp now owns 2,232,312 shares of the real estate investment trust’s stock worth $25,270,000 after buying an additional 61,797 shares during the last quarter. Finally, Morgan Stanley increased its position in Pennsylvania Real Estate Investment Trust by 667.8% during the first quarter. Morgan Stanley now owns 2,186,212 shares of the real estate investment trust’s stock worth $33,099,000 after buying an additional 1,901,460 shares during the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) traded down 0.37% during mid-day trading on Thursday, hitting $10.79. The stock had a trading volume of 892,335 shares. The stock’s 50-day moving average is $10.40 and its 200 day moving average is $11.77. The company’s market capitalization is $753.43 million. Pennsylvania Real Estate Investment Trust has a 52 week low of $9.75 and a 52 week high of $21.85.

Pennsylvania Real Estate Investment Trust Company Profile

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).

Get a free copy of the Zacks research report on Pennsylvania Real Estate Investment

According to Zacks, analysts expect that Pennsylvania Real Estate Investment Trust will report full year earnings of $1.65 per share for the current financial year, with EPS estimates ranging from $1.61 to $1.68. For the next year, analysts anticipate that the business will post earnings of $1.76 per share, with EPS estimates ranging from $1.69 to $1.86. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Pennsylvania Real Estate Investment Trust.

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

A number of analysts recently issued reports on the company. Zacks Investment Research raised Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. ValuEngine downgraded Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Stifel Nicolaus began coverage on Pennsylvania Real Estate Investment Trust in a research report on Friday, July 14th. They issued a “hold” rating and a $11.50 target price on the stock. Boenning Scattergood reissued a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, August 10th. Finally, Barclays PLC lowered their price target on Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $14.08.

ILLEGAL ACTIVITY NOTICE: “Zacks: Analysts Anticipate Pennsylvania Real Estate Investment Trust (PEI) Will Announce Earnings of $0.41 Per Share” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US & international copyright legislation. The legal version of this piece of content can be accessed at https://ledgergazette.com/2017/10/10/zacks-analysts-anticipate-pennsylvania-real-estate-investment-trust-pei-will-announce-earnings-of-0-41-per-share.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Pennsylvania Real Estate Investment Trust by 1.2% during the second quarter. Vanguard Group Inc. now owns 11,487,090 shares of the real estate investment trust’s stock worth $130,033,000 after buying an additional 130,986 shares during the last quarter. BlackRock Inc. increased its position in Pennsylvania Real Estate Investment Trust by 1.6% during the second quarter. BlackRock Inc. now owns 10,389,468 shares of the real estate investment trust’s stock worth $117,609,000 after buying an additional 159,545 shares during the last quarter. State Street Corp increased its position in Pennsylvania Real Estate Investment Trust by 2.3% during the second quarter. State Street Corp now owns 2,683,266 shares of the real estate investment trust’s stock worth $30,370,000 after buying an additional 60,384 shares during the last quarter. Northern Trust Corp increased its position in Pennsylvania Real Estate Investment Trust by 2.8% during the second quarter. Northern Trust Corp now owns 2,232,312 shares of the real estate investment trust’s stock worth $25,270,000 after buying an additional 61,797 shares during the last quarter. Finally, Morgan Stanley increased its position in Pennsylvania Real Estate Investment Trust by 667.8% during the first quarter. Morgan Stanley now owns 2,186,212 shares of the real estate investment trust’s stock worth $33,099,000 after buying an additional 1,901,460 shares during the last quarter. 98.97% of the stock is currently owned by hedge funds and other institutional investors.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) traded down 0.37% during mid-day trading on Thursday, hitting $10.79. The stock had a trading volume of 892,335 shares. The stock’s 50-day moving average is $10.40 and its 200 day moving average is $11.77. The company’s market capitalization is $753.43 million. Pennsylvania Real Estate Investment Trust has a 52 week low of $9.75 and a 52 week high of $21.85.

Pennsylvania Real Estate Investment Trust Company Profile

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).

Get a free copy of the Zacks research report on Pennsylvania Real Estate Investment Trust (PEI)

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

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