Citigroup Lowers Pennsylvania R.E.I.T. (PEI) Price Target to $10.00

Pennsylvania R.E.I.T. (NYSE:PEI) had its target price reduced by equities researchers at Citigroup from $11.50 to $10.00 in a note issued to investors on Tuesday. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Citigroup’s price target would suggest a potential upside of 11.48% from the stock’s current price.

PEI has been the topic of several other reports. Zacks Investment Research cut shares of Pennsylvania R.E.I.T. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. ValuEngine cut shares of Pennsylvania R.E.I.T. from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Finally, Barclays reissued a “sell” rating and set a $9.00 price target on shares of Pennsylvania R.E.I.T. in a research report on Sunday, October 14th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Pennsylvania R.E.I.T. has a consensus rating of “Hold” and a consensus target price of $10.42.

Shares of NYSE PEI opened at $8.97 on Tuesday. The firm has a market cap of $622.91 million, a PE ratio of 5.37 and a beta of 1.10. Pennsylvania R.E.I.T. has a twelve month low of $8.57 and a twelve month high of $12.52. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.44.

Pennsylvania R.E.I.T. (NYSE:PEI) last posted its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The company had revenue of $83.90 million during the quarter, compared to the consensus estimate of $87.12 million. Pennsylvania R.E.I.T. had a negative net margin of 6.91% and a negative return on equity of 3.53%. As a group, equities analysts anticipate that Pennsylvania R.E.I.T. will post 1.54 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in Pennsylvania R.E.I.T. by 5.8% during the second quarter. BlackRock Inc. now owns 11,418,011 shares of the real estate investment trust’s stock valued at $125,484,000 after acquiring an additional 622,763 shares in the last quarter. Presima Inc. lifted its holdings in shares of Pennsylvania R.E.I.T. by 12.5% in the 3rd quarter. Presima Inc. now owns 2,819,700 shares of the real estate investment trust’s stock valued at $26,674,000 after buying an additional 314,200 shares during the period. Victory Capital Management Inc. raised its holdings in Pennsylvania R.E.I.T. by 5.6% during the third quarter. Victory Capital Management Inc. now owns 1,936,041 shares of the real estate investment trust’s stock worth $18,314,000 after purchasing an additional 102,048 shares during the last quarter. Northern Trust Corp raised its holdings in Pennsylvania R.E.I.T. by 1.6% during the second quarter. Northern Trust Corp now owns 1,267,840 shares of the real estate investment trust’s stock worth $13,934,000 after purchasing an additional 19,799 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Pennsylvania R.E.I.T. by 5.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,217,751 shares of the real estate investment trust’s stock worth $13,384,000 after purchasing an additional 61,299 shares during the last quarter. Institutional investors own 91.12% of the company’s stock.

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. REIT'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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Analyst Recommendations for Pennsylvania R.E.I.T. (NYSE:PEI)

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