<ARTICLE> 5
<CIK> 0000077281
<NAME> PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
<CURRENCY> DOLLARS
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          AUG-31-1997
<PERIOD-START>                             SEP-01-1996
<PERIOD-END>                               FEB-28-1997
<EXCHANGE-RATE>                                      1
<CASH>                                       4,335,000
<SECURITIES>                                         0
<RECEIVABLES>                                6,191,000
<ALLOWANCES>                                 1,930,000
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                     200,532,000
<DEPRECIATION>                              47,666,000
<TOTAL-ASSETS>                             161,462,000
<CURRENT-LIABILITIES>                        6,395,000
<BONDS>                                    111,066,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                     8,678,000
<OTHER-SE>                                  35,323,000
<TOTAL-LIABILITY-AND-EQUITY>               161,462,000
<SALES>                                     20,085,000
<TOTAL-REVENUES>                            23,581,000
<CGS>                                                0
<TOTAL-COSTS>                               12,855,000
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                               500,000
<INTEREST-EXPENSE>                           4,605,000
<INCOME-PRETAX>                              5,621,000
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          5,621,000
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 5,621,000
<EPS-PRIMARY>                                     $.65
<EPS-DILUTED>                                     $.65