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

A number of equities research analysts have recently weighed in on PEI shares. Zacks Investment Research downgraded Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. 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 research report on Wednesday, April 6th. Mitsubishi UFJ Financial Group started coverage on Pennsylvania Real Estate Investment Trust in a report on Monday, April 4th. They issued an “overweight” rating and a $24.00 price objective for the company. Finally, Stifel Nicolaus upgraded Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, April 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $25.00.

The company’s 50 day moving average price is $22.07 and its 200-day moving average price is $21.20. The company’s market capitalization is $1.67 billion.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last announced its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. During the same period in the prior year, the business earned $0.39 earnings per share. The company had revenue of $94.30 million for the quarter, compared to the consensus estimate of $68.46 million. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis. Analysts expect that Pennsylvania Real Estate Investment Trust will post $1.84 EPS for the current fiscal year.

In other news, 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 directly owns 347,196 shares of the company’s stock, valued at approximately $7,377,915. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, 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.

Several hedge funds and institutional investors have bought and sold shares of the company. Victory Capital Management Inc. raised its position 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 period. California Public Employees Retirement System raised its position 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 period. Mutual of America Capital Management LLC raised its position 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 period. Principal Financial Group Inc. raised its position 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 period. Finally, Sei Investments Co. raised its position 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 valued at $1,074,000 after buying an additional 6,641 shares during the period.

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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