Pennsylvania Real Estate Investment Trust (NYSE:PEI) shares saw unusually-strong trading volume on Thursday . Approximately 963,835 shares were traded 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.

A number of analysts have recently weighed in on PEI shares. Boenning Scattergood upgraded shares of Pennsylvania Real Estate Investment Trust from a “neutral” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Wednesday, April 6th. Stifel Nicolaus upgraded shares of 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 shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research note on Saturday, May 21st. Finally, Mitsubishi UFJ Financial Group started coverage on shares of Pennsylvania Real Estate Investment Trust in a research note on Monday, April 4th. They issued an “overweight” rating and a $24.00 price objective on the stock. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.00.

The company’s 50 day moving average is $21.62 and its 200-day moving average is $21.10. The stock’s market cap is $1.59 billion.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $101.90 million for the quarter, compared to the consensus estimate of $71.89 million. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 EPS. Equities research analysts expect that Pennsylvania Real Estate Investment Trust will post $1.84 EPS for the current year.

In other news, EVP Andrew M. Ioannou sold 10,000 shares of the business’s 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 completion of the sale, the executive vice president now owns 46,156 shares in the company, valued at approximately $1,027,894.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joseph F. Coradino sold 33,000 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $22.29, for a total transaction of $735,570.00. Following the sale, the chief executive officer now owns 324,056 shares of the company’s stock, valued at approximately $7,223,208.24. The disclosure for this sale can be found here.

Other hedge funds recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of 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 in the last quarter. California Public Employees Retirement System increased its stake in shares of 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 in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of 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 in the last quarter. Principal Financial Group Inc. increased its stake in shares of 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 in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Pennsylvania Real Estate Investment Trust by 15.6% in the fourth quarter. Sei Investments Co. now owns 49,125 shares of the real estate investment trust’s stock valued at $1,074,000 after buying an additional 6,641 shares in 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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