Insider Selling: Pennsylvania Real Estate Investment Trust (NYSE:PEI) Director Sells 100,000 Shares of Stock
Pennsylvania Real Estate Investment Trust (NYSE: PEI) director Michael J. Demarco sold 100,000 shares of Pennsylvania Real Estate Investment Trust in a December 17 transaction. The stock sold at an average price of $ 1.02 for a total of $ 102,000.00. The transaction was announced in a legal filing with the SEC, which is available at this hyperlink.
NYSE PEI stocks fell $ 0.02 during Monday’s midday trading to hit $ 1.01. The share had a trading volume of 597,111 shares compared to an average volume of 1,450,220 shares. The company has a market capitalization of $ 81.00 million, a price to earnings ratio of -0.24, and a beta of 2.38. The Pennsylvania Real Estate Investment Trust has a 1-year low of $ 0.96 and a 1-year high of $ 3.47. The company has a quick ratio of 0.71, a current ratio of 0.71, and debt of 62.22. The company has a fifty-day moving average price of $ 1.46 and a 200-day moving price of $ 1.95.
Several hedge funds and other institutional investors recently added or reduced their stakes in the company. Brookfield Asset Management Inc. added a new position in the Pennsylvania Real Estate Investment Trust for approximately $ 619,000 in the second quarter. GSA Capital Partners LLP acquired a new position in the Pennsylvania Real Estate Investment Trust valued at approximately $ 618,000 in the second quarter. State Street Corp increased its position in Pennsylvania Real Estate Investment Trust by 1,898.2% in the second quarter. State Street Corp now owns 219,547 shares of the real estate investment trust, valued at $ 547,000, after purchasing an additional 208,560 shares last quarter. Vanguard Group Inc. increased its position in the Pennsylvania Real Estate Investment Trust by 6.8% in the second quarter. Vanguard Group Inc. now owns 2,669,741 shares in the real estate investment trust valued at $ 6,647,000 after acquiring an additional 169,834 shares last quarter. Eventually, Asset Management One Co. Ltd. a new position in the Pennsylvania Real Estate Investment Trust valued at approximately $ 266,000 in the 2nd quarter. 11.36% of the shares are currently owned by institutional investors and hedge funds.
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About Pennsylvania Real Estate Investment Trust
The Pennsylvania Real Estate Investment Trust is engaged in the ownership, management, rental, acquisition, remediation and disposition of shopping centers. The company focuses on malls in the eastern half of the US, primarily in the Mid-Atlantic region. The real estate portfolio includes Cherry Hill Mall, Plymouth Meeting Mall, Mall at Prince Georges and Springfield Town Center.
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