Pennsylvania R.E.I.T. (PEI) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Pennsylvania R.E.I.T. (NYSE:PEI) from a strong sell rating to a hold rating in a research note published on Thursday morning, Zacks.com reports.

According to Zacks, “PENNSYLVANIA R.E. INVEST. TR. is a real estate investment trust, engaged in acquiring and holding for investment interests in real estate. “

Other analysts have also issued research reports about the company. ValuEngine upgraded Pennsylvania R.E.I.T. from a strong sell rating to a sell rating in a research note on Saturday, May 4th. Boenning Scattergood upgraded Pennsylvania R.E.I.T. from a neutral rating to an outperform rating in a research note on Monday, May 6th. Barclays restated a sell rating and issued a $5.00 price objective on shares of Pennsylvania R.E.I.T. in a research note on Tuesday, April 16th. Finally, Citigroup set a $7.00 target price on Pennsylvania R.E.I.T. and gave the company a hold rating in a research report on Tuesday, February 26th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $6.67.

NYSE:PEI opened at $7.45 on Thursday. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.65 and a current ratio of 0.54. The company has a market capitalization of $559.48 million, a price-to-earnings ratio of 4.84 and a beta of 1.47. Pennsylvania R.E.I.T. has a 12-month low of $5.46 and a 12-month high of $12.45.

Pennsylvania R.E.I.T. (NYSE:PEI) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.55). The business had revenue of $84.68 million during the quarter, compared to the consensus estimate of $86.85 million. Pennsylvania R.E.I.T. had a negative net margin of 34.03% and a negative return on equity of 20.43%. Equities research analysts predict that Pennsylvania R.E.I.T. will post 1.25 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 11.28%. The ex-dividend date is Friday, May 31st. Pennsylvania R.E.I.T.’s payout ratio is 54.55%.

Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can grew its position in shares of Pennsylvania R.E.I.T. by 41.4% in the fourth quarter. Bank of Montreal Can now owns 6,583 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 1,928 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Pennsylvania R.E.I.T. by 32.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,767 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 1,896 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Pennsylvania R.E.I.T. in the fourth quarter valued at approximately $63,000. Meeder Asset Management Inc. grew its position in shares of Pennsylvania R.E.I.T. by 71.1% in the fourth quarter. Meeder Asset Management Inc. now owns 12,671 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 5,266 shares during the last quarter. Finally, Magnus Financial Group LLC acquired a new position in shares of Pennsylvania R.E.I.T. in the first quarter valued at approximately $96,000. 75.21% of the stock is currently owned by institutional investors.

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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