Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) saw an uptick in trading volume on Thursday . 963,835 shares traded hands during mid-day trading, an increase of 18% from the previous session’s volume of 814,669 shares.The stock last traded at $22.91 and had previously closed at $22.84.

Several brokerages recently issued reports on PEI. Stifel Nicolaus raised Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, April 20th. Zacks Investment Research lowered Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Mitsubishi UFJ Financial Group began coverage on Pennsylvania Real Estate Investment Trust in a report on Monday, April 4th. They set an “overweight” rating and a $24.00 target price for the company. Finally, Boenning Scattergood upgraded Pennsylvania Real Estate Investment Trust from a “neutral” rating to an “outperform” rating and set a $30.00 target price for the company in a report on Wednesday, April 6th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $25.00.

The firm’s market capitalization is $1.59 billion. The company’s 50 day moving average is $21.58 and its 200 day moving average is $21.10.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last released its quarterly earnings results 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 had revenue of $101.90 million for the quarter, compared to analysts’ expectations of $71.89 million. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts expect that Pennsylvania Real Estate Investment Trust will post $1.84 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Friday, May 27th.

In other news, EVP Andrew M. Ioannou sold 10,000 shares of Pennsylvania Real Estate Investment Trust stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $22.27, for a total transaction of $222,700.00. Following the sale, the executive vice president now owns 46,156 shares of the company’s stock, valued at approximately $1,027,894.12. The transaction was disclosed in a filing 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 that occurred on Monday, June 6th. The shares were sold at an average price of $21.25, for a total transaction of $701,250.00. Following the sale, the chief executive officer now directly owns 347,196 shares in the company, valued at approximately $7,377,915. The disclosure for this sale can be found here.

A number of hedge funds recently bought and sold shares of the stock. Nationwide Fund Advisors increased its stake in Pennsylvania Real Estate Investment Trust by 1.4% in the fourth quarter. Nationwide Fund Advisors now owns 52,710 shares of the real estate investment trust’s stock valued at $1,153,000 after buying an additional 725 shares during the period. California State Teachers Retirement System increased its stake in Pennsylvania Real Estate Investment Trust by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 128,087 shares of the real estate investment trust’s stock valued at $2,801,000 after buying an additional 2,054 shares during the period. Dimensional Fund Advisors LP increased 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 period. New York State Common Retirement Fund increased its stake in Pennsylvania Real Estate Investment Trust by 5.7% in the fourth quarter. New York State Common Retirement Fund now owns 66,700 shares of the real estate investment trust’s stock valued at $1,459,000 after buying an additional 3,600 shares during the period. Finally, Rhumbline Advisers increased its stake in Pennsylvania Real Estate Investment Trust by 4.5% in the fourth quarter. Rhumbline Advisers now owns 120,810 shares of the real estate investment trust’s stock valued at $2,642,000 after buying an additional 5,175 shares during the period.

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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