In early February, Pennsylvania Real Estate Investment Trust announced that comparable sales per square foot for the 12 months ended December 31, 2015, grew by approximately 10% in its mall portfolio, compared to the prior year, to $432 per square foot. Sales growth was reported across all properties in the portfolio. Excluding non-core malls being marketed for sale, and including Springfield Town Center, sales per square foot were $451, marking another milestone for the company.
The SunTrust team feels that the huge 23% sell-off this year is totally unwarranted, and they cite improving metrics, not the least of which is improving leverage to 7.4 times. The analysts also expect that Wall Street will rerate the company, given the extremely high-quality assets in the portfolio.
Investors here are paid a very solid 4.87% distribution, which could include return of principal. The SunTrust price objective is set at $28, and the consensus target price is $19.67. The shares closed Friday at $17.26.
Shares of this top company are down 50% since last fall. The Qlik Technologies Inc. (NASDAQ: QLIK) QlikView Business Discovery platform lets people quickly bring data sources together to create dynamic visual applications that can be navigated and searched intuitively. QlikView uses natural analytics to reflect the way human curiosity researches and processes information, while delivering the enterprise manageability, governance and service offerings organizations require.
The company’s new Qlik Sense product has helped push the company in the business intelligence and analytic market, but the recent earnings were just in line with expectations and guidance was weak, with the company citing soft spending and competition. The long price decline for the stock has continued as well. Some analysts feel that the company could be taking business from Tableau Software, and they hear that spending is positive.
The company reported mixed numbers last week. While achieving solid year-over-year total and licensing revenue growth of 22% and 21%, respectively, on a constant-currency basis, adjusted earnings per share decreased 3%. The stock closed down over 9% on Friday in response, as earnings and 2016 guidance were weaker than analysts expected. The SunTrust analysts note the stock is trading at the lowest valuation since its IPO, and with a strong product upgrade cycle, the firm believes the next generation products will increase the size of deals.
SunTrust has a $25 price target for the stock, but the consensus target is higher at $31.21. The stock closed Friday’s trading at $17.61.
Bill Gates and Warren Buffet Purchases Highlight Massive Insider Buying: AutoNation, Phillips 66, Tempur Sealy, Wynn and More
Irrational selling often is heightened during times of extreme stock market weakness. Weak hands will sell shares in panic rather than looking at the big picture. All three of these companies have big potential upside and rather limited downside.