Pennsylvania Real Estate Investment Trust (NYSE:PEI) saw unusually-strong trading volume on Friday . Approximately 626,514 shares were traded during mid-day trading, an increase of 31% from the previous session’s volume of 478,036 shares.The stock last traded at $24.30 and had previously closed at $24.49.

Separately, Zacks Investment Research downgraded shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Saturday, May 21st. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Pennsylvania Real Estate Investment Trust presently has a consensus rating of “Buy” and an average target price of $25.50.

The stock’s market cap is $1.71 billion. The stock’s 50 day moving average price is $23.96 and its 200 day moving average price is $21.97.

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 for the quarter, beating the consensus estimate of $0.41 by $0.02. The company had revenue of $94.30 million for the quarter, compared to the consensus estimate of $68.46 million. During the same quarter in the previous year, the business earned $0.39 earnings per share. Pennsylvania Real Estate Investment Trust’s revenue was down 7.3% compared to the same quarter last year. On average, equities analysts anticipate that Pennsylvania Real Estate Investment Trust will post $1.85 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be issued a dividend of $0.21 per share. The ex-dividend date is Tuesday, August 30th. This represents a $0.84 annualized dividend and a dividend yield of 3.41%.

In other news, 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 transaction of $701,250.00. Following the completion of the transaction, the chief executive officer now directly owns 347,196 shares in the company, valued at $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 on Thursday, June 9th. The shares were 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 of the company’s stock, valued at $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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