Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) reached 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. The stock had previously closed at $25.44.

PEI has been the topic of a number of research reports. Zacks Investment Research downgraded Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Boenning Scattergood raised 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. Finally, Stifel Nicolaus raised 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.00.

The firm’s 50-day moving average is $22.52 and its 200-day moving average is $21.38. The company’s market cap is $1.75 billion.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. During the same quarter in the prior year, the company posted $0.39 EPS. The business had revenue of $94.30 million for the quarter, compared to analysts’ expectations of $68.46 million. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, analysts forecast that Pennsylvania Real Estate Investment Trust will post $1.85 earnings per share for the current year.

In other news, EVP Andrew M. Ioannou sold 10,000 shares of the firm’s 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 transaction, the executive vice president now owns 46,156 shares in the company, valued at $1,027,894.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joseph F. Coradino sold 33,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $7,377,915. The disclosure for this sale can be found here.

Several institutional investors have recently added to or reduced their stakes in PEI. Sei Investments Co. increased 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. Nationwide Fund Advisors increased its position 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 valued at $1,153,000 after buying an additional 725 shares during the period. New York State Common Retirement Fund increased its position 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 valued at $1,459,000 after buying an additional 3,600 shares during the period. Rhumbline Advisers increased its position 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 valued at $2,642,000 after buying an additional 5,175 shares during the period. Finally, California Public Employees Retirement System increased 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.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.