Pennsylvania R.E.I.T. (NYSE:PEI) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Pennsylvania R.E.I.T. (NYSE:PEI) issued its earnings results on Thursday. The real estate investment trust reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.01), MarketWatch Earnings reports. Pennsylvania R.E.I.T. had a negative net margin of 3.23% and a negative return on equity of 2.35%. The firm had revenue of $74.24 million during the quarter, compared to analysts’ expectations of $82.84 million.

PEI stock traded up $0.02 during midday trading on Friday, hitting $1.18. 10,271 shares of the stock traded hands, compared to its average volume of 2,824,379. Pennsylvania R.E.I.T. has a 1-year low of $0.80 and a 1-year high of $7.07. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.50 and a quick ratio of 0.50. The stock’s fifty day simple moving average is $1.01 and its 200-day simple moving average is $3.43. The firm has a market cap of $100.92 million, a P/E ratio of -2.19 and a beta of 2.00.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 6.78%. The ex-dividend date of this dividend is Friday, May 29th. Pennsylvania R.E.I.T.’s dividend payout ratio is currently 80.00%.

PEI has been the topic of several recent research reports. Zacks Investment Research raised shares of Pennsylvania R.E.I.T. from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. ValuEngine lowered shares of Pennsylvania R.E.I.T. from a “sell” rating to a “strong sell” rating in a report on Thursday, April 2nd. Citigroup cut their price target on Pennsylvania R.E.I.T. from $3.75 to $0.70 and set a “sell” rating on the stock in a research report on Tuesday, April 7th. Finally, SunTrust Banks decreased their price objective on Pennsylvania R.E.I.T. from $4.00 to $1.00 and set a “sell” rating for the company in a report on Friday, April 24th. Four equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. Pennsylvania R.E.I.T. currently has an average rating of “Sell” and an average price target of $3.61.

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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Earnings History for Pennsylvania R.E.I.T. (NYSE:PEI)

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