Pennsylvania Real Estate Investment Trust (PEI) : Investors lapped up stocks on upticks to the tune of $5.88 million in the Wednesdays trading session. The trading value on downticks was comparatively at $2.06 million and the uptick to downtick ratio of 2.85 indicates continuous buying by the bulls. The net money flow into the stock was $3.82 million. The block trades were dominated by the bulls with a healthy 5.01, uptick to downtick ratio. Only $0.99 million worth of trades exchanged hands on downticks showing the reluctance of the large traders to part with their holdings. Upticks saw transactions worth $4.96 clearly indicating buying by large investors. The total money flow for block trades stood at $3.97 million, which is a positive for the stock in the long-term. Pennsylvania Real Estate Investment Trust (PEI) fell $0.06 during the day at $23.14, a drop of -0.24% over the previous days close. However, for the week, the stock is 1.11%, compared to the previous week.
Also, Stifel Nicolaus upgrades its view on Pennsylvania Real Estate Investment Trust (NYSE:PEI) according to the research report released by the firm to its investors. The shares have now been rated Buy by the stock experts at the ratings house. Earlier, the shares had a rating of Hold. The rating by the firm was issued on April 20, 2016.
Pennsylvania Real Estate Investment Trust (NYSE:PEI): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $23.26 and $23.04 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $23.30. The buying momentum continued till the end and the stock did not give up its gains. It closed at $23.22, notching a gain of 0.13% for the day. The total traded volume was 1,656,777 . The stock had closed at $23.19 on the previous day.
The stock has recorded a 20-day Moving Average of 6.12% and the 50-Day Moving Average is 6.83%. In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (Chief Executive Officer) of Pennsylvania Real Estate Investment Trust, Coradino Joseph F had sold 33,000 shares worth of $735,570 in a transaction dated June 9, 2016. In this transaction, 33,000 shares were sold at $22.29 per share.
Pennsylvania Real Estate Investment Trust (PREIT) 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.