Pennsylvania Real Estate Investment Trust (PEI) Plunges 6.51%

Pennsylvania Real Estate Investment Trust (PEI) Plunges 6.51%

Pennsylvania Real Estate Investment Trust (PEI) had a rough trading day for Tuesday December 03 as shares tumbled 6.51%, or a loss of $-0.36 per share, to close at $5.17. After opening the day at $5.36, shares of Pennsylvania Real Estate Investment Trust traded as high as $5.38 and as low as $5.03. Volume was 2.89 million shares over 11,278 trades, against an average daily volume of n/a shares and a total float of 77.55 million.

As a result of the decline, Pennsylvania Real Estate Investment Trust now has a market cap of $400.93 million. In the last year, shares of Pennsylvania Real Estate Investment Trust have traded between a range of $8.20 and $4.34, and its 50-day SMA is currently $n/a and 200-day SMA is $n/a.

Pennsylvania Real Estate Investment Trust is a self-managed and self-administered REIT in the United States. It is engaged in the ownership, management, leasing, acquisition, redevelopment, development and disposition of retail shopping malls including regional department stores and large format retailers. Its properties involve mall portfolio, redevelopment, speciality leasing, and partnerships and marketing. It derives the substantial majority of revenue from rent leases of retail properties in the real estate portfolio.

Pennsylvania Real Estate Investment Trust is based out of Philadelphia, PA and has some 274 employees. Its CEO is Joseph F. Coradino.

Pennsylvania Real Estate Investment Trust is a component of the Russell 2000. The Russell 2000 is one of the leading indices tracking small-cap companies in the United States. It’s maintained by Russell Investments, an industry leader in creating and maintaining indices, and consists of the smallest 2000 stocks from the broader Russell 3000 index.

Russell’s indices differ from traditional indices like the Dow Jones Industrial Average (DJIA) or S&P 500, whose members are selected by committee, because they base membership entirely on an objective, rules based methodology. The 3,000 largest companies by market cap make up the Russell 3000, with the 2,000 smaller companies making up the Russell 2000. It’s a simple approach that gives a broad, unbiased look at the small-cap market as a whole.

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