Revenue Update on Pennsylvania R.E.I.T.(NYSE:PEI)

Pennsylvania R.E.I.T.(NYSE:PEI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 26, 2016. Company reported revenue of $61.24M. Analysts estimated a revenue of $67.25M. Earnings per share were $0.43. Analysts had estimated an EPS of $0.41.

Pennsylvania R.E.I.T. (PEI) made into the market gainers list on Fridays trading session with the shares advancing 1.48% or 0.37 points. Due to strong positive momentum, the stock ended at $25.44, which is also near the day’s high of $25.64. The stock began the session at $25.06 and the volume stood at 7,05,436 shares. The 52-week high of the shares is $25.64 and the 52 week low is $16.42. The company has a current market capitalization of $1,767 M and it has 6,94,70,731 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 13, 2016, Joseph F Coradino (Chief Executive Officer) sold 33,000 shares at $22.29 per share price.Also, On Jun 10, 2016, Andrew M. Ioannou (EVP – Finance & Acquisitions) sold 10,000 shares at $22.27 per share price.On Mar 21, 2016, Rosemarie B Greco (director) sold 5,412 shares at $21.36 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *