Investment

Pennsylvania Real Estate Investment Trust (NYSE:PEI) Upgraded to “Hold” by StockNews.com

Pennsylvania Real Estate Investment Trust (NYSE:PEIGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

PEI traded down $0.04 during midday trading on Friday, hitting $0.73. 1,120,053 shares of the company traded hands, compared to its average volume of 540,204. The company has a quick ratio of 0.71, a current ratio of 0.96 and a debt-to-equity ratio of 264.65. The firm has a market capitalization of $58.56 million, a PE ratio of -0.36 and a beta of 2.29. The company’s 50-day moving average is $0.91 and its 200 day moving average is $1.33. Pennsylvania Real Estate Investment Trust has a 52 week low of $0.69 and a 52 week high of $3.47.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp lifted its stake in shares of Pennsylvania Real Estate Investment Trust by 1,898.2% in the 2nd quarter. State Street Corp now owns 219,547 shares of the real estate investment trust’s stock worth $547,000 after purchasing an additional 208,560 shares during the period. GSA Capital Partners LLP lifted its stake in shares of Pennsylvania Real Estate Investment Trust by 69.8% in the 3rd quarter. GSA Capital Partners LLP now owns 421,557 shares of the real estate investment trust’s stock worth $818,000 after purchasing an additional 173,232 shares during the period. Vanguard Group Inc. lifted its stake in shares of Pennsylvania Real Estate Investment Trust by 6.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,669,741 shares of the real estate investment trust’s stock worth $6,647,000 after purchasing an additional 169,834 shares during the period. Renaissance Technologies LLC bought a new position in shares of Pennsylvania Real Estate Investment Trust in the 4th quarter worth approximately $154,000. Finally, Doyle Wealth Management bought a new position in shares of Pennsylvania Real Estate Investment Trust in the 3rd quarter worth approximately $192,000. Institutional investors and hedge funds own 10.39% of the company’s stock.

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Pennsylvania Real Estate Investment Trust Company Profile (Get Rating)

Pennsylvania Real Estate Investment Trust engages in the ownership, management, leasing, acquisition, redevelopment, and disposition of shopping malls. The firm focuses on shopping malls located in the eastern half of the U.S. primarily in the Mid-Atlantic region. Its property portfolio includes Cherry Hill Mall, Plymouth Meeting Mall, Mall at Prince Georges, and Springfield Town Center.

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