X0202 4 2007-01-31 0 0000077281 PENNSYLVANIA REAL ESTATE INVESTMENT TRUST PEI 0001297969 Cohen Stephen B C/O PENN. REAL ESTATE INVESTMENT TRUST THE BELLEVUE, 200 SOUTH BROAD STREET PHILADELPHIA PA 19102 1 0 0 0 Shares of Beneficial Interest, par value $1.00 per share 2007-01-31 4 A 0 1000 A 38317 D Shares of Beneficial Interest, par value $1.00 per share 37056 I By Trust Shares of Beneficial Interest, par value $1.00 per share 243944 I By Trust Shares of Beneficial Interest, par value $1.00 per share 153713 I By Trust Grant of restricted shares for no consideration under the issuer's Restricted Share Plan for Non-Employee Trustees. Mr. Cohen is a beneficiary of an Indenture of Trust dated April 28, 1969. Mr. Cohen disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that Mr. Cohen is the beneficial owner of the securities for purposes of Section 16 or for any other purpose. Mr. Cohen is a future beneficiary of the Deed of Trust of Sylvan M. Cohen dated May 14, 1998, as amended. Mr Cohen disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that Mr. Cohen is the beneficial owner of the securities for purposes of Section 16 or for any other purpose. Mr. Cohen is a trustee of the Sylvan M. Cohen Charitable Remainder Trust. Mr. Cohen disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that Mr. Cohen is the beneficial owner of the securities for purposes of Section 16 or for any other purpose. Bruce Goldman (attorney in fact) 2007-02-01