Pennsylvania Real Estate Investment Trust (NYSE:PEI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, July 12th.

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. “

Several other equities research analysts have also issued reports on PEI. J P Morgan Chase & Co reduced their price target on Pennsylvania Real Estate Investment Trust from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, March 22nd. TheStreet lowered Pennsylvania Real Estate Investment Trust from a “c-” rating to a “d+” rating in a report on Friday, March 24th. Barclays PLC reissued an “underweight” rating and issued a $14.00 price objective (down from $15.00) on shares of Pennsylvania Real Estate Investment Trust in a research note on Wednesday, April 19th. Boenning Scattergood downgraded Pennsylvania Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a research note on Monday, May 15th. Finally, ValuEngine downgraded Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus price target of $16.70.

Pennsylvania Real Estate Investment Trust (NYSE PEI) opened at 12.14 on Wednesday. The firm’s 50-day moving average is $11.57 and its 200 day moving average is $13.89. Pennsylvania Real Estate Investment Trust has a 12-month low of $10.00 and a 12-month high of $25.43. The stock’s market capitalization is $846.66 million.

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In other news, Director John Joseph Roberts purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average price of $10.76 per share, with a total value of $107,600.00. Following the completion of the purchase, the director now directly owns 33,060 shares of the company’s stock, valued at approximately $355,725.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George J. Alburger, Jr. acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was bought at an average price of $11.78 per share, with a total value of $58,900.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $58,900. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 35,000 shares of company stock worth $391,000. 4.40% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware bought a new stake in Pennsylvania Real Estate Investment Trust during the first quarter valued at about $132,000. Dupont Capital Management Corp increased its stake in Pennsylvania Real Estate Investment Trust by 77.4% in the second quarter. Dupont Capital Management Corp now owns 11,727 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 5,117 shares in the last quarter. SG Americas Securities LLC increased its stake in Pennsylvania Real Estate Investment Trust by 46.3% in the second quarter. SG Americas Securities LLC now owns 14,618 shares of the real estate investment trust’s stock valued at $165,000 after buying an additional 4,624 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Pennsylvania Real Estate Investment Trust by 3.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,400 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 550 shares in the last quarter. Finally, BlueCrest Capital Management Ltd bought a new stake in Pennsylvania Real Estate Investment Trust during the first quarter valued at about $202,000. Institutional investors own 96.03% of the company’s stock.

Pennsylvania Real Estate Investment Trust Company Profile

Pennsylvania Real Estate Investment Trust (PREIT) is a self-managed and self-administered real estate investment trust (REIT). The Company’s primary business is owning and operating retail shopping malls, which it does primarily through operating partnership, PREIT Associates, L.P. (PREIT Associates).

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