<ARTICLE> 5
<CIK> 0000077281
<NAME> PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
<CURRENCY> U.S.DOLLARS
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               SEP-30-1998
<EXCHANGE-RATE>                                      1
<CASH>                                       1,333,000
<SECURITIES>                                         0
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<ALLOWANCES>                                 1,626,000
<INVENTORY>                                          0
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<DEPRECIATION>                              59,333,000
<TOTAL-ASSETS>                             404,107,000
<CURRENT-LIABILITIES>                       34,624,000
<BONDS>                                    231,684,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                    13,300,000
<OTHER-SE>                                 124,499,000
<TOTAL-LIABILITY-AND-EQUITY>               404,107,000
<SALES>                                     42,076,000
<TOTAL-REVENUES>                            48,685,000
<CGS>                                                0
<TOTAL-COSTS>                               24,581,000
<OTHER-EXPENSES>                                     0
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<INCOME-TAX>                                         0
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<EPS-PRIMARY>                                     1.34
<EPS-DILUTED>                                     1.34