The Pennsylvania Real Estate Investment Trust (PEI) Lowered to “Hold” at SunTrust Banks Inc.

The Pennsylvania Real Estate Investment Trust (PEI) Lowered to “Hold” at SunTrust Banks Inc.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) was downgraded by equities researchers at SunTrust Banks Inc. from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Pennsylvania Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Saturday, November 5th. Stifel Nicolaus downgraded shares of Pennsylvania Real Estate Investment Trust from a “buy” rating to a “hold” rating and decreased their price target for the company from $27.00 to $22.00 in a research note on Monday, December 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $23.50.

Shares of Pennsylvania Real Estate Investment Trust (NYSE:PEI) traded down 1.43% during midday trading on Thursday, hitting $17.96. 484,929 shares of the stock were exchanged. Pennsylvania Real Estate Investment Trust has a 12 month low of $16.42 and a 12 month high of $25.67. The firm has a 50 day moving average of $19.14 and a 200-day moving average of $21.65. The stock’s market cap is $1.25 billion.

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in shares of Pennsylvania Real Estate Investment Trust by 260.6% in the third quarter. JPMorgan Chase & Co. now owns 2,558,488 shares of the real estate investment trust’s stock valued at $58,922,000 after buying an additional 1,848,917 shares in the last quarter. FMR LLC boosted its position in Pennsylvania Real Estate Investment Trust by 106.7% in the second quarter. FMR LLC now owns 3,396,601 shares of the real estate investment trust’s stock worth $72,857,000 after buying an additional 1,753,001 shares during the last quarter. Numeric Investors LLC boosted its position in Pennsylvania Real Estate Investment Trust by 1,330.8% in the second quarter. Numeric Investors LLC now owns 1,558,151 shares of the real estate investment trust’s stock worth $33,422,000 after buying an additional 1,449,251 shares during the last quarter. Uniplan Investment Counsel Inc. bought a new position in Pennsylvania Real Estate Investment Trust during the third quarter worth approximately $16,940,000. Finally, BlackRock Fund Advisors boosted its position in Pennsylvania Real Estate Investment Trust by 9.8% in the third quarter. BlackRock Fund Advisors now owns 4,910,451 shares of the real estate investment trust’s stock worth $113,088,000 after buying an additional 438,202 shares during the last quarter. 90.85% of the stock is currently owned by institutional investors and hedge funds.

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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