|Bid||5.95 x 2900|
|Ask||6.37 x 1400|
|Day's Range||6.05 - 6.18|
|52 Week Range||5.51 - 12.45|
|Beta (3Y Monthly)||1.88|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 29, 2019 - May 3, 2019|
|Forward Dividend & Yield||0.84 (14.31%)|
|1y Target Est||6.31|
PHILADELPHIA, March 21, 2019 /PRNewswire/ -- PREIT (PEI) announced a series of milestones with scheduled openings at Woodland Mall, further establishing its presence as the premiere retail, dining and entertainment destination in Grand Rapids, the second largest city in Michigan. The project will feature an exclusive line up of high-impact tenants, strengthening this market-dominant asset. As the second largest redevelopment underway in PREIT's portfolio, Woodland Mall is expected to deliver nearly 20% NOI growth in 2020.
Realty Income's (O) April dividend payment marks the company's 585 successive monthly dividend payments through its 50-year operating history.
Investors have driven Pennsylvania Real Estate Investment Trust's dividend yield to an incredibly high level out of fear that FFO will continue declining. Here's what Mr. Market is missing.
Pennsylvania Real Estate Investment Trust NYSE:PEIView full report here! Summary * ETFs holding this stock are seeing positive inflows * Bearish sentiment is high * Economic output in this company's sector is expanding Bearish sentimentShort interest | NegativeShort interest is extremely high for PEI with more than 20% of shares on loan. This means that investors who seek to profit from falling equity prices are currently targeting PEI. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding PEI are favorable, with net inflows of $3.57 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | PositiveAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is strong relative to the trend shown over the past year. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Realty Income (O) is poised to benefit from solid investments and focus on service, non-discretionary and low-price retail business tenants. However, choppy retail real estate market remains a drag.
PREIT does not anticipate any JC Penney closings PREIT touts no unleased department stores in its core portfolio PHILADELPHIA , March 4, 2019 /PRNewswire/ -- PREIT (NYSE: PEI) today commented on JC Penney's ...
Pennsylvania Real Estate Investment Trust is a self-managed and self-administered REIT in the United States. The dividend yield of Pennsylvania Real Estate Investment Trust stocks is 12.84%. Warning! GuruFocus has detected 5 Warning Signs with PEI.
PHILADELPHIA, Feb. 25, 2019 /PRNewswire/ -- Pennsylvania Real Estate Investment Trust (PEI) today announced that Joseph Coradino, Chief Executive Officer, and Robert McCadden, Executive Vice President and Chief Financial Officer, will participate in a roundtable presentation at the Citi 2019 Global Property CEO Conference in Hollywood, Florida. The Company's roundtable presentation is scheduled for Tuesday, March 5, 2019 at 1:35PM Eastern Time. A replay of the audio webcast will be available one hour after the conclusion of the live event, and will remain available until June 1, 2019, and can be accessed by using the same URL.
PHILADELPHIA, Feb. 20, 2019 /PRNewswire/ -- PREIT (PEI) today detailed new updates in the transformation of Valley Mall in Hagerstown, MD – one of the Company's key suburban Washington DC assets. As part of its strategic efforts to strengthen its portfolio through anchor repositioning and remerchandising, PREIT has successfully replaced three department stores, with four tenants opening in just two years.
These days, the retail sector is a cut-throat bloodbath. The rise and continued growth of online shopping and omnichannel operations have completely changed the game for the sector. A number of once top brands and stores have closed or filed for bankruptcy. That's not only hurt retail stocks but the retail REITs that own malls and power centers.And it's going to get worse before it gets better.During their latest conference call, one of the top mall REITs -- Simon Property Group (NYSE:SPG) -- warned that, "there are some retailers out there that we're nervous about" and that they "are concerned about a few [retail bankruptcies] that should shake out in the first quarter."InvestorPlace - Stock Market News, Stock Advice & Trading TipsWhat's scary is that SPG is one of the top mall REITs around and features malls in so-called prime or "A" markets. These places are dominated by high-incomes, steady home prices, and relative economic stability.If Simon is finally starting to get worried, what does that mean for the mall REITs that don't own such prime assets? These REITs are certainly in big trouble as the shift in retail continues. * Should You Buy, Sell, Or Hold These 7 Medical Cannabis Stocks? But which retail REITs are in a precarious position? Here are 3 that could see declines and issues in the quarters ahead.Source: Shutterstock CBL & Associates (CBL)The recession could have been the first punch to CBL & Associates (NYSE:CBL) that staggered the firm in a big way. After the recession, CBL's portfolio of Class B malls were some of hardest hit and full of the chain stores that were in the first wave of retail causalities. Because of that, the mall REIT was faced with the difficult task of filing plenty of empty store frontage in a terrible environment. Unfortunately, it wasn't able to do that. Its core audience of shoppers has simply migrated to discounters like Target (NYSE:TGT) or online.And that continues to hurt its bottom line.During CBL's last earnings report, rising vacancy rates and retailer bankruptcies managed to reduce overall rents per square foot by 10.8% for all leases signed in 2018. That caused a big $41.8 million year-over-year decline in the amount cash CBL can pull in from its tenants. That's a big deal as that directly translates into a REIT's Funds from Operations (FFO) metric. And you know what FFO translates into? Dividends.With a 19.6% year-over-year decline in FFO, CBL was forced to cut its dividend payout to investors. This is now the second cut in about year.With more bankruptcies, store closures and lower consumer demand predicted, CBL is one retail REIT to avoid.Source: Shutterstock Washington Prime (WPG)Back in 2014, Simon could see the writing on the wall and spun-out some of its open-air shopping plazas and less than desirable malls as Washington Prime (NYSE:WPG). WPG later bought Glimcher Realty Trust 0- an owner of mostly Class B and some Class A properties. The problem is, WPG is still very much exposed to the pending retail apocalypse.As of September -- when WPG last reported earnings -- Sears (OTCMKTS:SHLDQ) was one of Washington Prime's largest tenants. As are Macy's (NYSE:M) and J C Penney (NYSE:JCP). The trio of struggling retailers makes up around 102 different locations in WPG's malls. WPG has been proactive in filling locations when they come up vacant -- Bon-Ton was another large tenant in its system. That's great, but it may not be enough.Moody's estimates that the department store sector will contract by a further 3.5% in 2019, while the overall number of store closings is set to surge -- with mall staples like the Gap (NYSE:GPS), Children's Place (NASDAQ:PLCE) and now bankrupt Gymboree all planning on closing hundreds of locations. This is exactly the kinds of stores that dot WPG's malls and shopping centers. * 5 Entertainment Stocks That Can Weather a Market Storm With rents falling slightly and FFO metrics being flat, Washington Primes management has stubbornly kept its dividend high. While WPG isn't in as bad of a shape as CBL -- thanks to some of its A properties -- I'm not sure I'd want to own it in the current environment. Especially when there are other retail REITs out there worthy of attention.Source: Ser Amantio di Nicolao via Wikimedia Pennsylvania REIT (PEI)Truth be told, Pennsylvania REIT (NYSE:PEI) or PREIT as it's commonly called is in the best shape of the retail REITs on this list. The mall owner got smart after the recession and started to purge its assets of underperforming malls. Those asset sales and closures helped PREIT get back on a great footing, improve sales per square foot and rents. Heck, even Sears isn't a problem as the REIT only holds four Sear's stores in its portfolio.The problem is, PEI is still operating in the economically sensitive A/B property range.Sales per square foot at PEI's locations now run about $500. That's a marked improvement over just a few years ago. However, when looking at some of Simon's top malls, that number is kind of low. Top A malls in SPG's portfolio typically pull in $1,000 to $1,200 sales per square feet. The point is, you're still dealing with a customer at PEI's locations that could be impacted during the next recession.Secondly, PREIT has looked to towards experiences -- such as LEGO Discovery Centers and Dave & Buster's Arcades -- to fill empty anchor stores. If the economy goes bad, these are the first things consumers will cut. With the economy showing signs of cracking, it's easy to see why PEI stock now has a 9%+ dividend yield.All in all, PREIT isn't bad per se, but certainly does have plenty of risk behind it. Investors may be better suited in less risky REITs with lower yields.Disclosure: At the time of writing, Aaron Levitt did not have a position in any of the stocks mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 U.S. Stocks That Are Coming to Life Again * The 7 Best Video Game Stocks to Power Up Your Portfolio! * 5 Tips to Become a Better Stock Trader Compare Brokers The post 3 Retail REITs That Are Still in Big Trouble appeared first on InvestorPlace.
The East Coast-focused mall REIT expects a sharp decline in funds from operations this year, but not due to any deterioration in its core business.
Pennsylvania Real Estate (PEI) delivered FFO and revenue surprises of -3.70% and -1.60%, respectively, for the quarter ended December 2018. Do the numbers hold clues to what lies ahead for the stock?
PHILADELPHIA (AP) _ Pennsylvania Real Estate Investment Trust (PEI) on Wednesday reported a key measure of profitability in its fourth quarter. The real estate investment trust, based in Philadelphia, said it had funds from operations of $40.6 million, or 52 cents per share, in the period. The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 54 cents per share.
Core Mall total leased space reached 96.6% NOI-weighted sales per square foot reach $525 ; Sales up 5.1% at Top 5 Assets Average renewal spreads of 6.3% for the quarter and 6.9% for the year Opened Belk ...
Owner Ray Harper describes the menu as "no veto." As in, there's something for everyone.
PHILADELPHIA, Feb. 8, 2019 /PRNewswire/ -- Pennsylvania Real Estate Investment Trust (PEI) announced that its Board of Trustees has declared a quarterly cash dividend of $0.21 per common share. The dividend is payable on March 15, 2019 to common shareholders of record on March 1, 2019. The March 15th dividend payment will be the Company's 168th consecutive distribution since its initial dividend paid in August of 1962. The Company also announced today that its Board of Trustees has declared quarterly cash dividends of $0.4609375 per share on its 7.375% Series B Cumulative Redeemable Perpetual Preferred Shares, $0.450000 per share to holders of its 7.20% Series C Preferred Shares, and $0.4296875 per share to holders of its 6.875% Series D Preferred Shares.
PHILADELPHIA, Feb. 7, 2019 /PRNewswire/ -- Fashion District Philadelphia, a joint venture partnership between PREIT and Macerich, expands dining and entertainment concepts joining the roster – including a new flagship location from entertainment leader Round One Entertainment. Fashion District will offer a variety of dynamic tenants and community programming across four key pillars – Style, Dining, Entertainment, and Arts & Culture.
As 1776 opens at Cherry Hill Mall, it joins hotels, entertainment and fitness as part of a new playbook for mall operators.
Pennsylvania Real Estate Investment Trust has put up for sale a free-standing building that is leased to Whole Foods Market within the Exton Square Mall property. The grocer occupies 55,000 square feet and has a long-term lease on the space. The store opened in January 2018. These stand-alone out parcels leased to the organic grocery store don’t sell frequently in the Philadelphia region though buildings leased to other tenants, such as pharmacies, have traded. In 2014, Realen Properties sold the lease it had with Wegmans in King of Prussia along with the 12 acres the grocery store sits upon for $35.75 million.
PHILADELPHIA, Jan. 24, 2019 /PRNewswire/ -- PREIT (PEI) and 1776 announced today the opening of 1776's newest campus, a startup incubator and Founders' Market at Cherry Hill Mall, providing space and supporting innovation and collaboration for the local retail and startup communities. This new-to-portfolio concept for PREIT and first mall location for 1776 will focus on startups, small businesses, retail and e-commerce incubation initiatives, revolutionizing the mall model. As the shopping experience continues to evolve, Cherry Hill Mall now offers the opportunity for 1776 members to immerse themselves in a productive retail environment with real-time interaction with live customers, shoppers and retailers as they explore products and concepts to maximize their business.