Brokerages predict that Pennsylvania R.E.I.T. (NYSE:PEI) will report $86.04 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Pennsylvania R.E.I.T.’s earnings. The highest sales estimate is $88.50 million and the lowest is $84.01 million. Pennsylvania R.E.I.T. reported sales of $81.76 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.2%. The firm is scheduled to announce its next earnings report after the market closes on Tuesday, July 30th.
According to Zacks, analysts expect that Pennsylvania R.E.I.T. will report full-year sales of $355.24 million for the current financial year, with estimates ranging from $352.94 million to $359.60 million. For the next year, analysts forecast that the company will report sales of $367.39 million, with estimates ranging from $359.73 million to $381.20 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Pennsylvania R.E.I.T..
Pennsylvania R.E.I.T. (NYSE:PEI) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.55). Pennsylvania R.E.I.T. had a negative net margin of 34.03% and a negative return on equity of 20.43%. The business had revenue of $84.68 million for the quarter, compared to the consensus estimate of $86.85 million.
A number of equities research analysts recently weighed in on the stock. Barclays set a €45.00 ($52.33) price objective on shares of Zalando and gave the company a “buy” rating in a research report on Tuesday, April 16th. Zacks Investment Research downgraded shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine raised shares of USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, Boenning Scattergood reaffirmed a “neutral” rating on shares of Farmers & Merchants Bancorp, Inc. (OH) in a research report on Monday, May 6th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. Pennsylvania R.E.I.T. has an average rating of “Hold” and a consensus price target of $6.81.
Several large investors have recently made changes to their positions in PEI. PNC Financial Services Group Inc. grew its position in shares of Pennsylvania R.E.I.T. by 32.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,767 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 1,896 shares during the last quarter. Amalgamated Bank bought a new position in Pennsylvania R.E.I.T. in the 4th quarter worth about $63,000. Magnus Financial Group LLC bought a new position in Pennsylvania R.E.I.T. in the 1st quarter worth about $96,000. BNP Paribas Arbitrage SA grew its position in Pennsylvania R.E.I.T. by 41.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 16,163 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 4,755 shares during the last quarter. Finally, NumerixS Investment Technologies Inc bought a new position in Pennsylvania R.E.I.T. in the 1st quarter worth about $102,000. 66.69% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:PEI traded down $0.13 during trading on Friday, reaching $6.24. 973,000 shares of the company’s stock traded hands, compared to its average volume of 1,455,318. The company has a debt-to-equity ratio of 3.38, a current ratio of 0.54 and a quick ratio of 0.54. Pennsylvania R.E.I.T. has a 12 month low of $5.46 and a 12 month high of $11.05. The company’s 50 day moving average is $6.48. The stock has a market cap of $484.40 million, a PE ratio of 4.05 and a beta of 1.17.
Pennsylvania R.E.I.T. Company Profile
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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