Pennsylvania R.E.I.T. (PEI) reported quarterly earnings results on Tuesday, Apr-26-2016. The company reported $0.43 EPS for the quarter. Analysts had a consensus estimate of $0.43. The company posted revenue of $101.90 million in the period, compared to analysts expectations of $111.16 million. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.
Many Wall Street Analysts have commented on Pennsylvania R.E.I.T.. Stifel Upgraded Pennsylvania R.E.I.T. on Apr 20, 2016 to ” Buy”, Price Target of the shares are set at $27.Company shares were Reiterated by Barclays on Mar 7, 2016 to “Underweight”, Firm has raised the Price Target to $ 19 from a previous price target of $18 .
Pennsylvania R.E.I.T. opened for trading at $22.76 and hit $23.1 on the upside on Friday, eventually ending the session at $22.75, with a gain of 0.22% or 0.05 points. The heightened volatility saw the trading volume jump to 5,66,609 shares. Company has a market cap of $1,576 M.
In a different news, on Mar 21, 2016, Rosemarie B Greco (director) sold 5,412 shares at $21.36 per share price. According to the SEC, on Nov 5, 2015, Jonathen Bell (SVP & Chief Accounting Officer) sold 5,000 shares at $22.67 per share price. On Aug 21, 2015, Andrew M. Ioannou (EVP – Finance & Acquisitions) sold 10,000 shares at $21.65 per share price, according to the Form-4 filing with the securities and exchange commission.
Pennsylvania Real Estate Investment Trust (PREIT) is an integrated self-managed and self-administered real estate investment trusts (REIT). The Company is engaged in the ownership management leasing acquisition redevelopment development and disposition of shopping malls. The Company owns interests in approximately 42 retail properties of which 38 are operating properties and four are development properties. The 38 operating properties include approximately 32 shopping malls and over six other retail properties have a total of approximately 28.6 million square feet and are located in 11 states. Its property portfolio includes Cherry Hill Mall New Jersey Willow Grove Park Pennsylvania New River Valley Mall Lycoming Mall Palmer Park Mall Uniontown Mall Washington Crown Center and Beaver Valley Mall among others. Its portfolio also includes other retail properties including power centers street level retail office properties and properties under redevelopment.