Pennsylvania Real Estate Investment Trust (NYSE:PEI) Stock Continues to Trade in a Narrow Range

Investors who may be increasingly looking into the possibility of investing in stocks of real estate investment trusts could consider taking a look into the Pennsylvania Real Estate Investment Trust (NYSE:PEI) stock this week.

Market Stats

On Friday, PEI stock remains unchanged at $1.7000 with more than 791.52K shares, compared to its average volume of 479.25K shares. The stock has moved within a range of $1.6900 – 1.8000 after opening the trade at $1.7000.

Latest Development

This past Friday the stock may have been trading within a range but at the same time it should be noted that the day before the company had announced its financial results for the third fiscal quarter. The performance may not have particularly thrilled investors or market analysts considering the fact that the company it suffered funds from operations loss to the tune of as much as $6.5 million.

That loss worked out to 8 cents a share but at the same time it is also necessary to remember that it was a key metric in which the company suffered. As far as the real estate investment trust industry is concerned, the funds from operations metric is a vital one and is tracked closely by analysts.

It is a figure that represents net income and other assets like amortisation and depreciation among others. The total loss for the quarter stood at $44.6 million against revenues of $71.7 million. It remains to be seen if the Pennsylvania Real Estate Investment Trust stock stays in a range this week or not. 

Traders Corner

PEI stock is trading below the 20-Day and 50-Day Moving averages of $1.79 and $1.88 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.08. The stock is down 22% in the past 3-month.