Pennsylvania Real Estate Investment Trust
Market Cap
US$96.3m
Last Updated
2020/06/05 02:29 UTC
Data Sources
Company Financials +
Executive Summary
PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets.
Risk Analysis
Earnings are forecast to decline by an average of -11.2% per year for the next 3 years
Currently unprofitable and not forecast to become profitable over the next 3 years
+ 1 more risk
Snowflake Analysis
Average dividend payer with imperfect balance sheet.
Similar Companies
Share Price & News
How has Pennsylvania Real Estate Investment Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: PEI's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
24.8%
PEI
7.7%
US REITs
4.3%
US Market
1 Year Return
-78.4%
PEI
-5.1%
US REITs
10.3%
US Market
Return vs Industry: PEI underperformed the US REITs industry which returned -7.2% over the past year.
Return vs Market: PEI underperformed the US Market which returned 8.9% over the past year.
Shareholder returns
| PEI | Industry | Market | |
|---|---|---|---|
| 7 Day | 24.8% | 7.7% | 4.3% |
| 30 Day | 23.7% | 13.9% | 11.5% |
| 90 Day | -29.9% | -7.3% | 7.4% |
| 1 Year | -74.1%-78.4% | -1.1%-5.1% | 12.7%10.3% |
| 3 Year | -81.9%-87.5% | 19.4%4.7% | 37.1%28.0% |
| 5 Year | -90.0%-93.7% | 51.3%20.4% | 64.7%46.2% |
Price Volatility Vs. Market
How volatile is Pennsylvania Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 months ago | Simply Wall St
Pennsylvania Real Estate Investment Trust Just Reported, And Analysts Assigned A US$4.45 Price Target4 months ago | Simply Wall St
Pennsylvania Real Estate Investment Trust (NYSE:PEI) Insiders Increased Their Holdings5 months ago | Simply Wall St
What Does Pennsylvania Real Estate Investment Trust's (NYSE:PEI) Share Price Indicate?Valuation
Is Pennsylvania Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?
0.3x
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: PEI ($1.41) is trading above our estimate of fair value ($0.64)
Significantly Below Fair Value: PEI is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: PEI is unprofitable, so we can't compare its PE Ratio to the REITs industry average.
PE vs Market: PEI is unprofitable, so we can't compare its PE Ratio to the US market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate PEI's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: PEI is good value based on its PB Ratio (0.3x) compared to the US REITs industry average (1.5x).
Next Steps
Future Growth
How is Pennsylvania Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
-11.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PEI is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: PEI is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: PEI is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: PEI's revenue (0.6% per year) is forecast to grow slower than the US market (8.8% per year).
High Growth Revenue: PEI's revenue (0.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if PEI's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Pennsylvania Real Estate Investment Trust performed over the past 5 years?
-5.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PEI is currently unprofitable.
Growing Profit Margin: PEI is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: PEI is unprofitable, and losses have increased over the past 5 years at a rate of -5.6% per year.
Accelerating Growth: Unable to compare PEI's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: PEI is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (5.2%).
Return on Equity
High ROE: PEI has a negative Return on Equity (-2.78%), as it is currently unprofitable.
Next Steps
Financial Health
How is Pennsylvania Real Estate Investment Trust's financial position?
Financial Position Analysis
Short Term Liabilities: PEI's short term assets ($55.1M) do not cover its short term liabilities ($146.6M).
Long Term Liabilities: PEI's short term assets ($55.1M) do not cover its long term liabilities ($1.8B).
Debt to Equity History and Analysis
Debt Level: PEI's debt to equity ratio (474.6%) is considered high.
Reducing Debt: PEI's debt to equity ratio has increased from 196.9% to 474.6% over the past 5 years.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: Whilst unprofitable PEI has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: PEI is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 4% per year.
Next Steps
Dividend
What is Pennsylvania Real Estate Investment Trust's current dividend yield, its reliability and sustainability?
5.67%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: PEI's dividend (5.67%) is higher than the bottom 25% of dividend payers in the US market (1.62%).
High Dividend: PEI's dividend (5.67%) is in the top 25% of dividend payers in the US market (4.32%)
Stability and Growth of Payments
Stable Dividend: PEI's dividend payments have been volatile in the past 10 years.
Growing Dividend: PEI's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (90.6%), PEI's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: PEI's dividends in 3 years are forecast to be thoroughly covered by earnings (0.3% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
8.0yrs
Average management tenure
CEO
Joe Coradino (67yo)
8yrs
Tenure
US$5,177,851
Compensation
Mr. Joseph F. Coradino, also known as Joe, has been the Chief Executive Officer at Pennsylvania Real Estate Investment Trust since June 7, 2012 and has been Chairman of the Board since February 2017 and Tr ...
CEO Compensation Analysis
Compensation vs Market: Joe's total compensation ($USD5.18M) is above average for companies of similar size in the US market ($USD577.87K).
Compensation vs Earnings: Joe's compensation has increased whilst the company is unprofitable.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 8yrs | US$5.18m | 1.1% $1.1m | |
| Executive VP & CFO | 0.42yr | US$1.22m | 0.25% $244.1k | |
| Executive Vice President of Leasing | no data | US$1.06m | 0.18% $169.2k | |
| Executive Vice President of Finance & Acquisitions | no data | US$999.29k | 0.18% $169.4k | |
| Executive VP | no data | no data | 0.13% $123.9k | |
| Executive Vice President of Strategy & Communications | no data | no data | 0.13% $125.5k | |
| Senior Vice President of Development | 6.42yrs | no data | no data | |
| Senior Vice President of Asset Management | no data | no data | no data | |
| Regional Marketing Director of East Region Properties | 11yrs | no data | no data | |
| General Manager of Springfield Mall | 9.92yrs | no data | no data |
8.0yrs
Average Tenure
50.5yo
Average Age
Experienced Management: PEI's management team is seasoned and experienced (8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 8yrs | US$5.18m | 1.1% $1.1m | |
| Independent Trustee | 16.58yrs | US$216.06k | 0.11% $108.9k | |
| Independent Trustee | 16.5yrs | US$194.06k | 0.16% $151.1k | |
| Independent Trustee | 3yrs | US$188.06k | 0.19% $186.3k | |
| Lead Independent Trustee | 3yrs | US$234.06k | 0.20% $196.1k | |
| Independent Trustee | 2.33yrs | US$185.06k | 0.17% $159.2k | |
| Independent Trustee | 5yrs | US$204.56k | 0.20% $190.0k |
3.3yrs
Average Tenure
67yo
Average Age
Experienced Board: PEI's board of directors are considered experienced (3.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Pennsylvania Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Pennsylvania Real Estate Investment Trust
- Ticker: PEI
- Exchange: NYSE
- Founded: 1960
- Industry: Retail REITs
- Sector: Real Estate
- Implied Market Cap: US$96.270m
- Market Cap: US$111.216m
- Shares outstanding: 80.90m
- Website: https://www.preit.com
Number of Employees
Location
- Pennsylvania Real Estate Investment Trust
- 2005 Market Street
- Suite 1000
- Philadelphia
- Pennsylvania
- 19103
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| PEI | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Jan 1969 |
| WX3 | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Jan 1969 |
| PEI.PRB | NYSE (New York Stock Exchange) | CUM RED PERP PFD | US | USD | Oct 2012 | |
| PEI.PRC | NYSE (New York Stock Exchange) | RED PFD SER C | US | USD | Jan 2017 | |
| PEI.PRD | NYSE (New York Stock Exchange) | 6.875% RED PFD D | US | USD | Sep 2017 |
Biography
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. with concentrations in the mid-Atlantic's top MSAs. Since 2012, the Company has driven a transformation guided by an emphasis on portfolio quality and balance sheet strength driven by disciplined capital expenditures.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/06/05 02:29 |
| End of Day Share Price | 2020/06/04 00:00 |
| Earnings | 2020/03/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.