<ARTICLE> 5
<CIK> 0000077281
<NAME> PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
<CURRENCY> DOLLARS
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               MAR-31-1999
<EXCHANGE-RATE>                                      1
<CASH>                                       2,998,000
<SECURITIES>                                         0
<RECEIVABLES>                               43,723,000
<ALLOWANCES>                                 1,536,000
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                     515,840,000
<DEPRECIATION>                              74,186,000
<TOTAL-ASSETS>                             486,839,000
<CURRENT-LIABILITIES>                       40,558,000
<BONDS>                                    309,247,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                    13,314,000
<OTHER-SE>                                 123,720,000
<TOTAL-LIABILITY-AND-EQUITY>               486,839,000
<SALES>                                     21,100,000
<TOTAL-REVENUES>                            22,421,000
<CGS>                                       11,446,000
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                           5,105,000
<INCOME-PRETAX>                              5,870,000
<INCOME-TAX>                                         0
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<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 5,870,000
<EPS-PRIMARY>                                      .44
<EPS-DILUTED>                                      .44