NYSE:PEI

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Pennsylvania Real Estate Investment Trust

Executive Summary

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. More Details


Snowflake Analysis

Imperfect balance sheet and overvalued.


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 is more volatile than 90% of US stocks over the past 3 months, typically moving +/- 27% a week.

Volatility Over Time: PEI's weekly volatility (27%) has been stable over the past year, but is still higher than 75% of US stocks.


Market Performance


7 Day Return

41.4%

PEI

-0.9%

US REITs

-2.7%

US Market


1 Year Return

-41.8%

PEI

-10.7%

US REITs

21.2%

US Market

Return vs Industry: PEI underperformed the US REITs industry which returned -9.3% over the past year.

Return vs Market: PEI underperformed the US Market which returned 24.3% over the past year.


Shareholder returns

PEIIndustryMarket
7 Day41.4%-0.9%-2.7%
30 Day143.8%0.4%1.8%
90 Day392.7%9.8%16.4%
1 Year-35.6%-41.8%-6.5%-10.7%23.9%21.2%
3 Year-68.1%-77.1%24.7%9.7%43.7%34.2%
5 Year-79.5%-86.8%53.4%22.0%124.3%99.2%

Long-Term 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

Valuation

Is Pennsylvania Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?

0.64x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: PEI ($2.56) is trading above our estimate of fair value ($0.69)

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 US 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 (0.6x) compared to the US REITs industry average (1.6x).


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 0 analysts?

10.6%

Forecasted Real Estate industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Pennsylvania Real Estate Investment Trust has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Pennsylvania Real Estate Investment Trust performed over the past 5 years?

-0.8%

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 0.8% 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 (2.9%).


Return on Equity

High ROE: PEI has a negative Return on Equity (-25.65%), 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 ($108.2M) do not cover its short term liabilities ($148.0M).

Long Term Liabilities: PEI's short term assets ($108.2M) do not cover its long term liabilities ($1.9B).


Debt to Equity History and Analysis

Debt Level: PEI's debt to equity ratio (581.9%) is considered high.

Reducing Debt: PEI's debt to equity ratio has increased from 220.5% to 581.9% 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 8.8% per year.


Next Steps

Dividend

What is Pennsylvania Real Estate Investment Trust current dividend yield, its reliability and sustainability?

0.78%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate PEI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PEI's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PEI's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PEI's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: PEI is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PEI's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.0yrs

Average management tenure


CEO

Joe Coradino (68 yo)

8.58yrs

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 ($USD5.18M) is above average for companies of similar size in the US market ($USD992.69K).

Compensation vs Earnings: Joe's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Joseph Coradino
Chairman & CEO8.58yrsUS$5.18m1.08%
$ 2.1m
Mario Ventresca
Executive VP & CFO1yrUS$1.22m0.25%
$ 498.3k
Andrew Ioannou
Executive Vice President of Finance & Acquisitions6yrsUS$999.29k0.17%
$ 345.9k
Joseph Aristone
Executive Vice President of Leasingno dataUS$1.06m0.17%
$ 345.4k
Rudolph Alberts
Senior Vice President of Operations0.42yrno datano data
Lisa Most
Executive VPno datano data0.13%
$ 253.0k
Heather Crowell
Executive Vice President of Strategy & Communicationsno datano data0.13%
$ 256.2k
Daniel Herman
Senior Vice President of Development7yrsno datano data
Debi Gilson
Regional Marketing Director of East Region Properties11.58yrsno datano data
Michael Rakers
General Manager of Springfield Mall10.5yrsno datano data

7.0yrs

Average Tenure

51.5yo

Average Age

Experienced Management: PEI's management team is seasoned and experienced (7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Joseph Coradino
Chairman & CEO8.58yrsUS$5.18m1.08%
$ 2.1m
John Roberts
Independent Trustee17.17yrsUS$216.06k0.24%
$ 477.1k
Mark Pasquerilla
Independent Trustee17.08yrsUS$194.06k0.35%
$ 692.6k
George Alburger
Independent Trustee3.58yrsUS$188.06k0.19%
$ 380.3k
Charles Pizzi
Lead Independent Trustee3.58yrsUS$234.06k0.20%
$ 400.4k
Joanne Epps
Independent Trustee2.92yrsUS$185.06k0.16%
$ 325.0k
Michael DeMarco
Independent Trustee5.58yrsUS$204.56k0.20%
$ 387.9k

3.9yrs

Average Tenure

68yo

Average Age

Experienced Board: PEI's board of directors are considered experienced (3.9 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.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.4%.


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$198.190m
  • Market Cap: US$193.275m
  • Shares outstanding: 81.56m
  • Website: https://www.preit.com

Number of Employees


Location

  • Pennsylvania Real Estate Investment Trust
  • One Commerce Square
  • 2005 Market Street
  • Philadelphia
  • Pennsylvania
  • 19103
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PEINYSE (New York Stock Exchange)YesCommon SharesUSUSDJan 1969
WX3DB (Deutsche Boerse AG)YesCommon SharesDEEURJan 1969
PEI.PRBNYSE (New York Stock Exchange)CUM RED PERP PFDUSUSDOct 2012
PEI.PRCNYSE (New York Stock Exchange)RED PFD SER CUSUSDJan 2017
PEI.PRDNYSE (New York Stock Exchange)6.875% RED PFD DUSUSDSep 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 offerin...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/27 23:41
End of Day Share Price2021/01/27 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.