Pennsylvania Real Estate Investment Trust (PEI) Files Form 4 Insider Selling : Andrew M. Ioannou Sells 10,000 Shares

Pennsylvania Real Estate Investment Trust (PEI): Andrew M. Ioannou , EVP – Finance & Acquisitions of Pennsylvania Real Estate Investment Trust sold 10,000 shares on Jun 9, 2016. The Insider selling transaction was reported by the company on Jun 10, 2016 to the Securities and Exchange Commission. The shares were sold at $22.27 per share for a total value of $222,700.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Jun 8, 2016, Joseph F Coradino (Chief Executive Officer) sold 33,000 shares at $21.25 per share price.On Mar 21, 2016, Rosemarie B Greco (director) sold 5,412 shares at $21.36 per share price.Also, On Nov 5, 2015, Jonathen Bell (SVP & Chief Accounting Officer) sold 5,000 shares at $22.67 per share price.On Aug 21, 2015, Andrew M. Ioannou (EVP – Finance & Acquisitions) sold 10,000 shares at $21.65 per share price.

Pennsylvania R.E.I.T.: On Thursday, Jun 9, 2016 heightened volatility was witnessed in Pennsylvania R.E.I.T. which led to swings in the share price. The shares opened for trading at $22.14 and hit $22.4 on the upside , eventually ending the session at $22.25, with a gain of 0.18% or 0.04 points. The heightened volatility saw the trading volume jump to 4,74,644 shares. The 52-week high of the share price is $23.99 and the company has a market cap of $1,546 M . The 52-week low of the share price is at $16.42.

Pennsylvania R.E.I.T. Money Flow Index Chart

Company has been under the radar of several Street Analysts.Pennsylvania R.E.I.T. is Upgraded by Stifel to Buy and the brokerage firm has set the Price Target at $27. Earlier the firm had a rating of Hold on the company shares. The Rating was issued on Apr 20, 2016.

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.

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