Pennsylvania Real Estate Investment Trust (NYSE:PEI) Downgraded by StockNews.com

Pennsylvania Real Estate Investment Trust (NYSE:PEI – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Shares of NYSE PEI opened at $0.67 on Friday. The firm’s 50-day moving average price is $0.87 and its 200-day moving average price is $1.28. The company has a market cap of $54.04 million, a PE ratio of -0.33 and a beta of 2.29. Pennsylvania Real Estate Investment Trust has a 52-week low of $0.65 and a 52-week high of $3.47. The company has a debt-to-equity ratio of 270.56, a quick ratio of 0.71 and a current ratio of 0.96.

A number of institutional investors have recently modified their holdings of PEI. Morgan Stanley lifted its position in Pennsylvania Real Estate Investment Trust by 28.2% during the first quarter. Morgan Stanley now owns 81,516 shares of the real estate investment trust’s stock valued at $157,000 after purchasing an additional 17,939 shares during the period. State Street Corp lifted its position in Pennsylvania Real Estate Investment Trust by 1,898.2% during the second quarter. State Street Corp now owns 219,547 shares of the real estate investment trust’s stock valued at $547,000 after purchasing an additional 208,560 shares during the period. Cubist Systematic Strategies LLC bought a new position in Pennsylvania Real Estate Investment Trust during the second quarter valued at approximately $158,000. invesco ltd lifted its position in Pennsylvania Real Estate Investment Trust by 1.3% during the second quarter. invesco ltd now owns 782,426 shares of the real estate investment trust’s stock valued at $1,948,000 after purchasing an additional 10,336 shares during the period. Finally, Barclays PLC lifted its position in Pennsylvania Real Estate Investment Trust by 232.7% during the third quarter. Barclays PLC now owns 13,489 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 9,434 shares during the period. Institutional investors own 10.39% of the company’s stock.

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About Pennsylvania Real Estate Investment Trust (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 US 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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