Pennsylvania Real Estate Investment Trust (NYSE:PEI) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $24.07 and last traded at $24.03, with a volume of 339,029 shares changing hands. The stock had previously closed at $23.72.

A number of research analysts recently issued reports on PEI shares. Zacks Investment Research upgraded Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Wednesday, April 27th. Stifel Nicolaus upgraded Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, April 20th. Boenning Scattergood upgraded Pennsylvania Real Estate Investment Trust from a “neutral” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Wednesday, April 6th. Finally, Mitsubishi UFJ Financial Group started 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 on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.00.

The company’s market cap is $1.68 billion. The firm has a 50 day moving average of $21.90 and a 200-day moving average of $21.17.

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 Monday, June 6th. The shares were 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 $7,377,915. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction, the executive vice president now owns 46,156 shares of the company’s stock, valued at approximately $1,027,894.12. The disclosure for this sale can be found here.

Other hedge funds recently added to or reduced their stakes in the company. Nationwide Fund Advisors boosted 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 worth $1,153,000 after buying an additional 725 shares in the last quarter. California State Teachers Retirement System boosted 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 worth $2,801,000 after buying an additional 2,054 shares in the last quarter. Sei Investments Co. boosted its stake in 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 in the last quarter. Rhumbline Advisers boosted 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 worth $2,642,000 after buying an additional 5,175 shares in the last quarter. Finally, 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 worth $4,618,000 after buying an additional 30,800 shares in the last quarter.

Pennsylvania Real Estate Investment Trust (PREIT) is an integrated, self-managed and self-administered real estate investment trust (REIT). The Company has a primary investment focus on retail shopping malls located in the eastern half of the United States. It is engaged in the ownership, management, leasing, acquisition, redevelopment, development and disposition of shopping malls.

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