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Shares of Penn Reit Has Fallen Below Previous 52-Week Low

By David Diaz

Shares of Penn Reit (NYSE:PEI) traded at a new 52-week low today of $5.08. This new low was reached on below average trading volume as 806,000 shares traded hands, while the average 30-day volume is approximately 1.6 million shares.

Over the past year, Penn Reithas traded in a range of $5.08 to $10.90 and are now at $5.08. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has slid 0.8%.

Penn Reit (NYSE:PEI) has potential upside of 100.8% based on a current price of $5.08 and analysts' consensus price target of $10.20. The stock should run into initial resistance at its 50-day moving average (MA) of $6.26 and subsequent resistance at its 200-day MA of $6.79.

Pennsylvania Real Estate Investment Trust is a self-administered real estate investment trust involved in acquiring, managing, and holding real estate interests for current yield and long-term appreciation. The Company's real estate holdings consist of shopping malls, strip and power centers, and industrial properties in the Mid-Atlantic and Southeastern United States.

SmarTrend recommended that its subscribers protect gains by selling shares of Penn Reit on July 22nd, 2019 by issuing a Downtrend alert when the shares were trading at $5.92. Since that call, shares of Penn Reit have fallen 11.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows penn reit

Ticker(s): PEI