Pennsylvania Real Estate Investment Trust (NYSE:PEI) saw unusually-high trading volume on Friday . Approximately 626,514 shares traded hands during 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 upgraded 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 report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $25.50.

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

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last released its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The business had revenue of $94.30 million for the quarter, compared to analyst estimates of $68.46 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. Analysts expect that Pennsylvania Real Estate Investment Trust will post $1.85 EPS for the current fiscal year.

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

In related news, CEO Joseph F. Coradino sold 33,000 shares of the company’s 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 sale, the chief executive officer now owns 347,196 shares in the company, valued at approximately $7,377,915. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrew M. Ioannou sold 10,000 shares of the company’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 completion of the sale, the executive vice president now 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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