Looking For A Top Momentum Pick? Why Pennsylvania Real Estate Investment Trust (NYSE: PEI) Is A Great Choice

Pennsylvania Real Estate Investment Trust (NYSE:PEI) price on Friday, October 08, fall -3.33% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $1.74.

A look at the stock’s price movement, the close in the last trading session was $1.80, moving within a range at $1.72 and $1.83. The beta value (5-Year monthly) was 2.63. Turning to its 52-week performance, $3.47 and $0.35 were the 52-week high and 52-week low respectively. Overall, PEI moved -12.56% over the past month.

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Pennsylvania Real Estate Investment Trust’s market cap currently stands at around $139.57 million, with investors looking forward to this quarter’s earnings report slated for Nov 04, 2021 – Nov 08, 2021.

Analysts have a consensus estimate of $68 million for the company’s revenue for the quarter, with a low and high estimate of $68 million and $68 million respectively. The average forecast suggests down to a -16.40% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2020 to grow to $261.82 million, representing a -22.30% decline on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that PEI is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.

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1 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 0 recommend PEI as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.

PEI’s current price about -9.26% and -12.20% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 30.89, while 7-day volatility ratio is 4.21% and 4.27% in the 30-day chart. Further, Pennsylvania Real Estate Investment Trust (PEI) has a beta value of 2.53, and an average true range (ATR) of 0.09. Analysts have given the company’s stock an average 52-week price target of $1.00, forecast between a low of $1.00 and high of $1.00. Looking at the price targets, the low is 42.53% off current price level while to achieve the yearly target high, price needs to move 42.53%. Nonetheless, investors will most likely welcome a 42.53% jump to $1.00 which is the analysts’ median price.

In the market, a comparison of Pennsylvania Real Estate Investment Trust (PEI) and its peers suggest the former has performed considerably weaker. Data shows PEI’s intraday price has changed -3.33% in last session and 183.30% over the past year. Comparatively, Regency Centers Corporation (REG) has moved -0.73% on the day and only 71.69% in the past 12 months. Looking at another peer, we see that Universal Health Realty Income Trust (UHT) price has dipped -0.62% on the day. However, the stock is -4.26% off its price a year ago. Moreover, ARMOUR Residential REIT Inc. (ARR) is also up 0.27% in trading on the day while keeping a an uptrend of 9.50% over the past year.

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If we refocus on Pennsylvania Real Estate Investment Trust (NYSE:PEI), historical trading data shows that trading volumes averaged 0.26 million over the past 10 days and 492.45K over the past 3 months. The company’s latest data on shares outstanding shows there are 78.14 million shares.

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The 1.20% of Pennsylvania Real Estate Investment Trust’s shares are in the hands of company insiders while institutional holders own 11.40% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 11.66 million on Sep 14, 2021, giving us a short ratio of 21.63. The data shows that as of Sep 14, 2021 short interest in Pennsylvania Real Estate Investment Trust (PEI) stood at 14.54% of shares outstanding, with shares short falling to 11.75 million registered in Aug 12, 2021. Current price change has pushed the stock 74.00% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PEI stock continues to rise going into the next quarter.

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