Pennsylvania Real Estate Investment Trust (PEI) Files Form 4 Insider Selling : Joseph F Coradino Sells 33,000 Shares

Pennsylvania Real Estate Investment Trust (PEI): Joseph F Coradino , Chief Executive Officer of Pennsylvania Real Estate Investment Trust sold 33,000 shares on Jun 9, 2016. The Insider selling transaction was reported by the company on Jun 13, 2016 to the Securities and Exchange Commission. The shares were sold at $22.29 per share for a total value of $735,570.00 , 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 10, 2016, Andrew M. Ioannou (EVP – Finance & Acquisitions) sold 10,000 shares at $22.27 per share price.On Jun 8, 2016, Joseph F Coradino (Chief Executive Officer) sold 33,000 shares at $21.25 per share price.Also, On Mar 21, 2016, Rosemarie B Greco (director) sold 5,412 shares at $21.36 per share price.On Nov 5, 2015, Jonathen Bell (SVP & Chief Accounting Officer) sold 5,000 shares at $22.67 per share price.

Shares of Pennsylvania R.E.I.T. (PEI) ended Friday, Jun 10, 2016 session in red amid volatile trading. The shares closed down -0.28 points or -1.26% at $21.97 with 7,33,794 shares getting traded. Post opening the session at $22.11, the shares hit an intraday low of $21.91 and an intraday high of $22.24 and the price vacillated in this range throughout the day. The company has a market cap of $1,526 M and the number of outstanding shares has been calculated to be 6,94,70,731 shares. The 52-week high of Pennsylvania R.E.I.T. is $23.99 and the 52-week low is $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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