Pennsylvania Real Estate Investment Trust (NYSE:PEI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.

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 analysts also recently commented on the company. Boenning Scattergood downgraded Pennsylvania Real Estate Investment Trust from an “outperform” rating to a “neutral” rating in a report on Monday, May 15th. BidaskClub upgraded Pennsylvania Real Estate Investment Trust from a “sell” rating to a “hold” rating in a report on Monday, July 31st. ValuEngine downgraded Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Barclays PLC lowered their price target on Pennsylvania Real Estate Investment Trust from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Tuesday. Finally, Citigroup Inc. lowered their price target on Pennsylvania Real Estate Investment Trust from $13.50 to $12.50 and set a “neutral” rating on the stock in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Pennsylvania Real Estate Investment Trust currently has an average rating of “Hold” and an average target price of $15.50.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) opened at 10.24 on Friday. The firm’s market capitalization is $715.03 million. The firm’s 50-day moving average is $11.54 and its 200-day moving average is $13.36. Pennsylvania Real Estate Investment Trust has a 12 month low of $9.84 and a 12 month high of $25.43.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) last released its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Pennsylvania Real Estate Investment Trust had a negative return on equity of 9.06% and a negative net margin of 18.13%. The firm had revenue of $89.25 million for the quarter, compared to the consensus estimate of $95.60 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. On average, equities research analysts expect that Pennsylvania Real Estate Investment Trust will post ($0.27) EPS for the current year.

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In other Pennsylvania Real Estate Investment Trust news, Director George J. Alburger, Jr. bought 5,000 shares of the stock in a transaction dated Monday, June 12th. The stock was bought at an average cost of $11.78 per share, for a total transaction of $58,900.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at approximately $58,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Joseph Roberts bought 10,000 shares of the stock in a transaction dated Tuesday, May 30th. The stock was 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 owns 33,060 shares of the company’s stock, valued at approximately $355,725.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 35,000 shares of company stock valued at $391,000. 4.40% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of Pennsylvania Real Estate Investment Trust by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 1,112,078 shares of the real estate investment trust’s stock worth $16,836,000 after buying an additional 60,709 shares during the period. AEW Capital Management L P purchased a new stake in shares of Pennsylvania Real Estate Investment Trust during the first quarter worth approximately $10,867,000. IndexIQ Advisors LLC raised its stake in shares of Pennsylvania Real Estate Investment Trust by 12.4% in the first quarter. IndexIQ Advisors LLC now owns 73,269 shares of the real estate investment trust’s stock worth $1,109,000 after buying an additional 8,071 shares during the last quarter. APG Asset Management US Inc. raised its stake in shares of Pennsylvania Real Estate Investment Trust by 6.9% in the first quarter. APG Asset Management US Inc. now owns 3,640,300 shares of the real estate investment trust’s stock worth $55,114,000 after buying an additional 233,469 shares during the last quarter. Finally, Amica Mutual Insurance Co. raised its stake in shares of Pennsylvania Real Estate Investment Trust by 37.0% in the first quarter. Amica Mutual Insurance Co. now owns 207,830 shares of the real estate investment trust’s stock worth $3,147,000 after buying an additional 56,103 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

About Pennsylvania Real Estate Investment Trust

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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