Pennsylvania Real Estate Investment Trust (PEI) : Traders are bullish on Pennsylvania Real Estate Investment Trust (PEI) as it has outperformed the S&P 500 by a margin of 6.82% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.04%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.67% in the last 1 week, and is up 14.04% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Pennsylvania Real Estate Investment Trust (NYSE:PEI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $23.35 and $23.35 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $23.91. The buying momentum continued till the end and the stock did not give up its gains. It closed at $23.72, notching a gain of 1.50% for the day. The total traded volume was 1,339,473 . The stock had closed at $23.37 on the previous day.
The stock has recorded a 20-day Moving Average of 7.32% and the 50-Day Moving Average is 9.17%. Pennsylvania Real Estate Investment Trust is up 5.29% in the last 3-month period. Year-to-Date the stock performance stands at 10.72%.
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.