<ARTICLE> 5
<CIK> 0000077281
<NAME> PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
<CURRENCY> DOLLARS
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          AUG-31-1997
<PERIOD-START>                             SEP-01-1996
<PERIOD-END>                               MAY-31-1997
<EXCHANGE-RATE>                                      1
<CASH>                                       3,554,000
<SECURITIES>                                         0
<RECEIVABLES>                                8,041,000
<ALLOWANCES>                                 1,880,000
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                     201,336,000
<DEPRECIATION>                              49,172,000
<TOTAL-ASSETS>                             161,879,000
<CURRENT-LIABILITIES>                        6,705,000
<BONDS>                                    112,467,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                     8,678,000
<OTHER-SE>                                  34,029,000
<TOTAL-LIABILITY-AND-EQUITY>               161,879,000
<SALES>                                     30,116,000
<TOTAL-REVENUES>                            35,017,000
<CGS>                                                0
<TOTAL-COSTS>                               19,248,000
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                               500,000
<INTEREST-EXPENSE>                           6,864,000
<INCOME-PRETAX>                              8,405,000
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          8,405,000
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 8,405,000
<EPS-PRIMARY>                                     $.97
<EPS-DILUTED>                                     $.97