Barclays cut shares of Pennsylvania R.E.I.T. (NYSE:PEI) from an equal weight rating to an underweight rating in a research note issued to investors on Tuesday morning, The Fly reports. Barclays currently has $18.00 target price on the real estate investment trust’s stock, down from their prior target price of $21.00.

Several other equities analysts have also weighed in on PEI. Zacks Investment Research restated a sell rating on shares of Pennsylvania R.E.I.T. in a research report on Sunday, January 17th. Boenning Scattergood started coverage on shares of Pennsylvania R.E.I.T. in a research report on Friday, December 4th. They set a neutral rating for the company.

Pennsylvania R.E.I.T. (NYSE:PEI) traded up 3.82% during trading on Tuesday, reaching $19.55. 249,271 shares of the company’s stock traded hands. The stock’s market cap is $1.35 billion. The company’s 50 day moving average is $20.81 and its 200-day moving average is $21.02. Pennsylvania R.E.I.T. has a 52-week low of $18.49 and a 52-week high of $25.14.

In other Pennsylvania R.E.I.T. news, CAO Jonathen Bell sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $22.67, for a total transaction of $113,350.00. Following the sale, the chief accounting officer now directly owns 38,197 shares of the company’s stock, valued at $865,925.99. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

A number of large investors have added to or reduced their stakes in PEI. Louisiana State Employees Retirement System acquired a new stake in Pennsylvania R.E.I.T. during the fourth quarter valued at approximately $669,000. Nationwide Fund Advisors increased its stake in shares of Pennsylvania R.E.I.T. by 1.4% in the fourth quarter. Nationwide Fund Advisors now owns 52,710 shares of the real estate investment trust’s stock worth $1,153,000 after buying an additional 725 shares during the last quarter. Capstone Asset Management Company increased its stake in shares of Pennsylvania R.E.I.T. by 0.7% in the fourth quarter. Capstone Asset Management Company now owns 20,975 shares of the real estate investment trust’s stock worth $459,000 after buying an additional 150 shares during the last quarter. Churchill Management increased its stake in shares of Pennsylvania R.E.I.T. by 4.6% in the fourth quarter. Churchill Management now owns 336,476 shares of the real estate investment trust’s stock worth $7,359,000 after buying an additional 14,663 shares during the last quarter. Finally, KBC Group increased its stake in shares of Pennsylvania R.E.I.T. by 28.5% in the third quarter. KBC Group now owns 10,835 shares of the real estate investment trust’s stock worth $215,000 after buying an additional 2,401 shares during the last quarter.

Pennsylvania Real Estate Investment Trust (NYSE:PEI) is an integrated, self-managed and self-administered real estate investment trusts (REIT). The Company is engaged in the ownership, management, leasing, acquisition, redevelopment, development and disposition of shopping malls. The Company owns interests in approximately 42 retail properties, of which 38 are operating properties and four are development properties. The 38 operating properties include approximately 32 shopping malls and over six other retail properties, have a total of approximately 28.6 million square feet and are located in 11 states. Its property portfolio includes Cherry Hill Mall, New Jersey, Willow Grove Park, Pennsylvania, New River Valley Mall, Lycoming Mall, Palmer Park Mall, Uniontown Mall, Washington Crown Center and Beaver Valley Mall, among others. Its portfolio also includes other retail properties, including power centers, street level retail, office properties and properties under redevelopment.

12 Month Chart for NYSE:PEI

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