Pennsylvania Real Estate Investment Trust (NYSE:PEI) was up 2.6% during trading on Thursday . The company traded as high as $24.69 and last traded at $24.51, with a volume of 372,068 shares changing hands. The stock had previously closed at $23.88.

Separately, Zacks Investment Research lowered Pennsylvania Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $25.50.

The company’s market cap is $1.70 billion. The company has a 50 day moving average of $23.81 and a 200-day moving average of $21.90.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last posted its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company earned $94.30 million during the quarter, compared to analyst estimates of $68.46 million. Pennsylvania Real Estate Investment Trust’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period in the prior 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.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Tuesday, August 30th.

In other news, CEO Joseph F. Coradino sold 33,000 shares of the firm’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $21.25, for a total transaction of $701,250.00. Following the sale, the chief executive officer now owns 347,196 shares of the company’s stock, valued at approximately $7,377,915. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew M. Ioannou sold 10,000 shares of the firm’s 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 sale, the executive vice president now directly owns 46,156 shares in the company, valued at approximately $1,027,894.12. The disclosure for this sale can be found here.

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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