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 $25.67 and last traded at $25.60, with a volume of 232,291 shares traded. The stock had previously closed at $25.44.

A number of research analysts have issued reports on the company. Zacks Investment Research lowered Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. 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. 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, Boenning Scattergood upgraded Pennsylvania Real Estate Investment Trust from a “neutral” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Wednesday, April 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.00.

The company’s market cap is $1.76 billion. The stock has a 50 day moving average price of $22.32 and a 200 day moving average price of $21.29.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. The company earned $94.30 million during the quarter, compared to analyst estimates of $68.46 million. During the same period in the previous year, the company posted $0.39 earnings per share. The company’s quarterly revenue was down 7.3% on a year-over-year basis. On average, equities research analysts anticipate that Pennsylvania Real Estate Investment Trust will post $1.85 EPS for the current fiscal year.

In other news, EVP Andrew M. Ioannou sold 10,000 shares of the stock in a transaction that occurred on 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 approximately $1,027,894.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joseph F. Coradino sold 33,000 shares of the stock in a transaction that occurred on 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 $7,377,915. The disclosure for this sale can be found here.

Several institutional investors recently modified their holdings of PEI. Victory Capital Management Inc. boosted its position 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 worth $22,718,000 after buying an additional 117,500 shares during the last quarter. Principal Financial Group Inc. boosted its stake 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 worth $10,167,000 after buying an additional 15,174 shares in the last quarter. New York State Common Retirement Fund boosted 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 worth $1,459,000 after buying an additional 3,600 shares in the last quarter. 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. Finally, 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.

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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