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

Pennsylvania Real Estate Investment Trust (NYSE: PEI – Get a rating) has been upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report released on Friday.

Prince Edward Island was down $0.04 at midday Friday, hitting $0.73. 1,120,053 shares of the company were traded, against an average volume of 540,204. The company has a quick ratio of 0.71, a current ratio of 0.96 and a leverage ratio of 264.65. The company 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 company. State Street Corp increased its stake in shares of Pennsylvania Real Estate Investment Trust by 1,898.2% in Q2. State Street Corp now owns 219,547 shares of the real estate investment trust worth $547,000 after purchasing an additional 208,560 shares during the period. GSA Capital Partners LLP increased its stake in shares of Pennsylvania Real Estate Investment Trust by 69.8% in the third quarter. GSA Capital Partners LLP now owns 421,557 shares of the real estate investment trust worth $818,000 after purchasing an additional 173,232 shares during the period. Vanguard Group Inc. increased its stake in shares of Pennsylvania Real Estate Investment Trust by 6.8% in Q2. Vanguard Group Inc. now owns 2,669,741 shares of the real estate investment trust worth $6,647,000 after purchasing an additional 169,834 shares during the period. Renaissance Technologies LLC purchased a new stock position in Pennsylvania Real Estate Investment Trust in Q4 for a value of approximately $154,000. Finally, Doyle Wealth Management bought a new position in shares of Pennsylvania Real Estate Investment Trust in Q3 for a value of approximately $192,000. Institutional investors and hedge funds hold 10.39% of the company’s shares.

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Pennsylvania Real Estate Investment Trust Company Profile (Get a rating)

Pennsylvania Real Estate Investment Trust is engaged in the ownership, management, leasing, acquisition, redevelopment and disposition of shopping centers. The company focuses on shopping centers located in the eastern half of the United States, primarily in the Mid-Atlantic region. Its real estate portfolio includes Cherry Hill Mall, Plymouth Meeting Mall, Mall at Prince Georges and Springfield Town Center.

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