Pennsylvania Real Estate Investment Trust (NYSE:PEI) shares saw an uptick in trading volume on Wednesday . 1,214,534 shares were traded during mid-day trading, an increase of 34% from the previous session’s volume of 907,384 shares.The stock last traded at $23.18 and had previously closed at $23.19.

A number of research firms have recently weighed in on PEI. Mitsubishi UFJ Financial Group began coverage on Pennsylvania Real Estate Investment Trust in a research note on Monday, April 4th. They issued an “overweight” rating and a $24.00 price target on the stock. Zacks Investment Research raised Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, March 23rd. 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. Finally, 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. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.00.

The company’s 50 day moving average price is $21.78 and its 200-day moving average price is $21.13. The stock’s market capitalization is $1.61 billion.

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

In other Pennsylvania Real Estate Investment Trust news, CEO Joseph F. Coradino sold 33,000 shares of the company’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $22.29, for a total value of $735,570.00. Following the completion of the sale, the chief executive officer now directly owns 324,056 shares of the company’s stock, valued at approximately $7,223,208.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew M. Ioannou sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 9th. The stock was 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 directly owns 46,156 shares of the company’s stock, valued at $1,027,894.12. The disclosure for this sale can be found here.

A number of large investors have recently modified their holdings of PEI. 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 worth $1,074,000 after buying an additional 6,641 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of 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 worth $1,153,000 after buying an additional 725 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of 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 worth $1,459,000 after buying an additional 3,600 shares during the last quarter. Rhumbline Advisers increased its stake in shares of 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 worth $2,642,000 after buying an additional 5,175 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of 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 worth $2,801,000 after buying an additional 2,054 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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