Pennsylvania Real Estate Investment Trust (NYSE:PEI) was down 2.6% during trading on Thursday . The stock traded as low as $24.00 and last traded at $24.03, with a volume of 186,696 shares traded. The stock had previously closed at $24.66.

A number of equities research analysts have recently issued reports on PEI shares. Stifel Nicolaus upgraded Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, April 20th. Zacks Investment Research lowered Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research note on Saturday, May 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $25.00.

The firm’s 50 day moving average price is $23.30 and its 200 day moving average price is $21.62. The firm’s market capitalization is $1.69 billion.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The business earned $94.30 million during the quarter, compared to analyst estimates of $68.46 million. The business’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. Equities research 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 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 sale, the executive vice president now owns 46,156 shares of the company’s stock, valued at $1,027,894.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph F. Coradino sold 33,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 347,196 shares of the company’s stock, valued at approximately $7,377,915. The disclosure for this sale can be found here.

Other hedge funds have modified their holdings of the company. Nationwide Fund Advisors boosted 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 valued at $1,153,000 after buying an additional 725 shares during the period. New York State Common Retirement Fund boosted 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 valued at $1,459,000 after buying an additional 3,600 shares during the period. California Public Employees Retirement System boosted its stake in shares of 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. Finally, Victory Capital Management Inc. boosted its stake 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 valued at $22,718,000 after buying an additional 117,500 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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