Pennsylvania Real Estate Investment Trust (NYSE:PEI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “PENNSYLVANIA R.E. INVEST. TR. is a real estate investment trust, engaged in acquiring and holding for investment interests in real estate. “

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) opened at 19.10 on Tuesday. Pennsylvania Real Estate Investment Trust has a 52 week low of $16.42 and a 52 week high of $25.67. The stock’s market capitalization is $1.33 billion. The company’s 50 day moving average price is $21.26 and its 200-day moving average price is $22.54.

Large investors have recently bought and sold shares of the company. Hsbc Holdings PLC boosted its stake in Pennsylvania Real Estate Investment Trust by 0.3% in the second quarter. Hsbc Holdings PLC now owns 15,502 shares of the real estate investment trust’s stock valued at $332,000 after buying an additional 51 shares during the period. Louisiana State Employees Retirement System boosted its stake in Pennsylvania Real Estate Investment Trust by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the real estate investment trust’s stock valued at $661,000 after buying an additional 100 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Pennsylvania Real Estate Investment Trust by 1.2% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,101 shares of the real estate investment trust’s stock valued at $256,000 after buying an additional 127 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in Pennsylvania Real Estate Investment Trust by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 15,420 shares of the real estate investment trust’s stock valued at $355,000 after buying an additional 250 shares during the period. Finally, PineBridge Investments L.P. boosted its stake in Pennsylvania Real Estate Investment Trust by 4.1% in the second quarter. PineBridge Investments L.P. now owns 8,811 shares of the real estate investment trust’s stock valued at $189,000 after buying an additional 348 shares during the period. 92.72% of the stock is owned by institutional investors.

Pennsylvania Real Estate Investment Trust Company Profile

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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