Pennsylvania Real Estate Investment Trust (NYSE:PEI) was up 2.1% during trading on Thursday . The stock traded as high as $22.28 and last traded at $22.20, with a volume of 588,799 shares trading hands. The stock had previously closed at $21.74.

Several equities research analysts recently commented on PEI shares. Zacks Investment Research lowered Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. SunTrust Banks Inc. dropped their price target on Pennsylvania Real Estate Investment Trust from $28.00 to $26.00 in a research note on Monday, March 14th. Boenning Scattergood raised Pennsylvania Real Estate Investment Trust from a “neutral” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Wednesday, April 6th. Mitsubishi UFJ Financial Group assumed coverage on Pennsylvania Real Estate Investment Trust in a research note on Monday, April 4th. They set an “overweight” rating and a $24.00 price target on the stock. Finally, Stifel Nicolaus raised Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, April 20th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $25.00.

The company has a 50 day moving average of $21.42 and a 200 day moving average of $21.06. The company’s market capitalization is $1.56 billion.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last released its quarterly earnings data on Tuesday, April 26th. The real estate investment trust reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The firm earned $101.90 million during the quarter, compared to analysts’ expectations of $71.89 million. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 EPS. On average, analysts predict that Pennsylvania Real Estate Investment Trust will post $1.84 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were issued a $0.21 dividend. The ex-dividend date was Friday, May 27th. This represents a $0.84 annualized dividend and a dividend yield of 3.74%.

In other news, EVP Andrew M. Ioannou sold 10,000 shares of Pennsylvania Real Estate Investment Trust stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $22.27, for a total value of $222,700.00. Following the transaction, the executive vice president now owns 46,156 shares in the company, valued at $1,027,894.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Joseph F. Coradino sold 33,000 shares of Pennsylvania Real Estate Investment Trust stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $21.25, for a total value of $701,250.00. Following the completion of the transaction, the chief executive officer now owns 347,196 shares in the company, valued at approximately $7,377,915. The disclosure for this sale can be found here.

Several hedge funds have bought and sold shares of PEI. Victory Capital Management Inc. boosted its stake in Pennsylvania Real Estate Investment Trust by 12.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,038,795 shares of the real estate investment trust’s stock valued at $22,718,000 after buying an additional 117,500 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Pennsylvania Real Estate Investment Trust by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 948,279 shares of the real estate investment trust’s stock valued at $20,739,000 after buying an additional 2,533 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Pennsylvania Real Estate Investment Trust by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 464,865 shares of the real estate investment trust’s stock valued at $10,167,000 after buying an additional 15,174 shares during the last quarter. California Public Employees Retirement System boosted its stake in Pennsylvania Real Estate Investment Trust by 17.1% in the fourth quarter. California Public Employees Retirement System now owns 211,134 shares of the real estate investment trust’s stock valued at $4,618,000 after buying an additional 30,800 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in Pennsylvania Real Estate Investment Trust by 9.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 195,454 shares of the real estate investment trust’s stock valued at $4,275,000 after buying an additional 16,714 shares during the last quarter.

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.

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