Pennsylvania Real Estate Investment Trust (NYSE:PEI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $13.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.04% from the company’s previous close.

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 also recently issued reports about the stock. ValuEngine raised shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $11.00 target price on shares of Pennsylvania Real Estate Investment Trust in a research report on Thursday, October 12th. Boenning Scattergood reissued a “hold” rating on shares of Pennsylvania Real Estate Investment Trust in a research report on Friday, November 3rd. Citigroup decreased their target price on shares of Pennsylvania Real Estate Investment Trust from $12.50 to $12.00 and set a “neutral” rating for the company in a research report on Friday, November 10th. Finally, Barclays reaffirmed a “sell” rating and set a $10.00 price objective on shares of Pennsylvania Real Estate Investment Trust in a report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $13.71.

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) opened at $11.50 on Wednesday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.91 and a quick ratio of 1.91. The company has a market cap of $799.76, a P/E ratio of -9.27 and a beta of 1.35. Pennsylvania Real Estate Investment Trust has a 1 year low of $9.32 and a 1 year high of $18.98.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The company had revenue of $89.20 million during the quarter, compared to the consensus estimate of $98.85 million. Pennsylvania Real Estate Investment Trust had a negative net margin of 16.35% and a negative return on equity of 7.60%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 earnings per share. sell-side analysts predict that Pennsylvania Real Estate Investment Trust will post 1.64 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. bought a new stake in shares of Pennsylvania Real Estate Investment Trust during the 3rd quarter worth $146,000. SG Americas Securities LLC boosted its holdings in shares of Pennsylvania Real Estate Investment Trust by 46.3% during the 2nd quarter. SG Americas Securities LLC now owns 14,618 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 4,624 shares during the period. Piedmont Investment Advisors LLC acquired a new position in Pennsylvania Real Estate Investment Trust during the 2nd quarter valued at $171,000. BlueCrest Capital Management Ltd raised its stake in Pennsylvania Real Estate Investment Trust by 13.6% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 15,152 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 1,818 shares during the last quarter. Finally, Hartland & Co. LLC acquired a new position in Pennsylvania Real Estate Investment Trust during the 3rd quarter valued at $185,000. 97.74% of the stock is owned by institutional investors and hedge funds.

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About Pennsylvania Real Estate Investment Trust

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).

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