StockNews.com Upgrades Pennsylvania Real Estate Investment Trust (NYSE:PEI) to Hold

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.

Shares of PEI opened at $0.52 on Friday. Pennsylvania Real Estate Investment Trust has a one year low of $0.49 and a one year high of $3.47. The company has a 50-day moving average of $0.67 and a two-hundred day moving average of $0.99. The stock has a market cap of $41.75 million, a price-to-earnings ratio of -0.26 and a beta of 2.15. The company has a debt-to-equity ratio of 270.56, a current ratio of 0.96 and a quick ratio of 0.96.

Several institutional investors and hedge funds have recently made changes to their positions in PEI. GSA Capital Partners LLP boosted its holdings 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’s stock worth $818,000 after buying an additional 173,232 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Pennsylvania Real Estate Investment Trust in the fourth quarter worth approximately $154,000. Doyle Wealth Management purchased a new stake in shares of Pennsylvania Real Estate Investment Trust in the third quarter worth approximately $192,000. Two Sigma Investments LP lifted its position in shares of Pennsylvania Real Estate Investment Trust by 105.1% in the third quarter. Two Sigma Investments LP now owns 134,140 shares of the real estate investment trust’s stock worth $260,000 after purchasing an additional 68,740 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Pennsylvania Real Estate Investment Trust in the third quarter worth approximately $114,000. Institutional investors own 21.30% of the company’s stock.

About Pennsylvania Real Estate Investment Trust (Get Rating)

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in the densely-populated eastern U.S.

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