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Pennsylvania Real Estate Investment Trust (PEI)

NYSE - NYSE Delayed Price. Currency in USD
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1.2600+0.4100 (+48.24%)
At close: 4:00PM EST

1.2600 0.00 (0.00%)
Before hours: 4:21AM EST

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  • C
    Canyon Traveler
    There are at least a week's worth of days like this required for the shorts to cover their position. Don't be eager to sell. PEI true value is over $10 per share.
  • A
    Aniket
    It's time to maximize our profit .The price at which PEI is trading right now is a discount price. I bought more shares yesterday. Even now 90cents is a very low price for this stock.Dividend or capital gains money is money.If anyone is relying on dividend, they should consider reducing their average cost so capital gains or dividend both the option will be in hand.This stock is easy money right now.
    Bullish
  • F
    Fox
    in case you've been under a rock cause it's the weekend... SVP agreed and this is supposed to be 100% closed "equity unimpaired" tomorrow. They get 150million in cash(3 times current market cap)
  • J
    John
    IMHO I wouldn't buy the preferred above 9 and I love preferred, but we still don't really know what is going to happen nor when they might pay the preferred.
  • E
    Edward
    I think this deal buys PEI about 2 years to get there act together. Therefore I think the sp will run up to maybe 3.00 over the short term. There will be volatility. If there are signs PEI is making progress there will be further upside. If not, it could be curtains for PEI. We have 2 years.... the stock price will up, don’t sell cheap
  • t
    tungsten
    Here is a thought it is said that PREIT were performing steadily until the government forced shutdown. The bankruptcy court will provide relief and grant the RSA. The closest estimation is during the hearing since the 95% of vote were in and the remaining 5% doesn’t have enough voting rights to overturn 2/3 required in the bankruptcy proceedings. It was at a book value of $5 pre-covid and by the looks of the 2 catalyst of chapter 11 resolution by tomorrow or 3 calendar day after and the vaccine emergency use mid December prior to Christmas this retail stocks will be back ranging $4-5.
  • C
    Canyon Traveler
    A huge short squeeze is coming. Don't sell lower than $6. They now have the financing to finish leasing Fashion District which is a class A property and with the vaccine coming this month revenue will soon be higher than pre-covid levels.
  • R
    Rick
    how long before they bring back a dividend to boost the price. I know they are only aloud to pay if needed to maintain reit status. How long will they cook the books to not pay out? Asking for a friend, think we will see a dividend again sometime next year?
    Bullish
  • R
    Randall
    Thoughts or ideas on when the PEI Pfd's will reinstate their cumulative dividends?
  • F
    Fox
    doc #170, #6. After considerable negotiations, on November 19, 2020, the parties agreed to that
    certain Stipulation Among Debtors, Wells Fargo Bank, National Association, and Certain
    Affiliates of Strategic Value Partners Regarding Matters to be Resolved Pursuant to Rule 9019
    of the Federal Rules of Bankruptcy Procedure [D.I. 155] (the “Settlement Stipulation”). The
    Settlement Stipulation provides for certain modifications to the Exit Facilities Documents and
    payment of certain professional fees incurred by SVP. Effectuation of the Settlement Stipulation
    will thus result in a fully consensual Plan that restructures the Debtors’ debt structure and leaves
    all other creditors, including equity holders, unimpaired.
  • t
    thomas
    Too late to buy?
    Bullish
  • J
    Jim
    In 2016 this stock was $25.00/share...check the chart.

    I know there are profit takers waiting to dump.

    These malls are reinventing themselves and will not go away for a while. Yes, they do not need so much parking now, I get it...my local mall, FSK in Maryland, placed a few restaurants in their parking lot $$$

    I plan to be patient until at least $5.

    GLTA.
  • C
    Captain Oblivious
    It's been a long dark night for PEI but that bright light you see isn't a rocket going off... it's just the fuse being lit. The fireworks start tomorrow with the judicial announcement.
  • A
    Aniket
    I try to avoid saying $ amount, but it is safe to say that PEI will reach $1 or more tomorrow. Right now on the trading platform that I use, it's 12 bullish vs 3bearish.
    Bullish
  • J
    JH
    Another document some might like to read (go to Prime Clerk and look up PREIT or Case No. 20-12737) is #173. It's a statement by Jonathan Walters of PJT Partners. Here's an excerpt from item #14, p. 6.

    "After extensive negotiations, I understand that in advance of confirmation of the Plan, SVP intends to modify the Ballots that it already submitted so as to vote to accept the Plan, and, thus, it is anticipated that the Plan will receive the unanimous support of all of the Debtors’ creditor constituencies."
  • z
    zag
    Did SVP agree to the RSA?
  • B
    Bullfrog
    I try to never buy into a short squeeze because the price always drops once the squeeze is over. I still think this is a good buy I just think I can get in on a more reasonable price.
  • C
    Charles T.
    Gosh, how exciting. Plenty of upside here, long term. Picked this and started monthly buys back in March out of pure contrarian entertainment value. Went ACPS + around 10am.
  • A
    Aniket
    Patience guys! I doubled my money & just reinvested the same amount after removing the profit ;) it would be safe to say that PEI will reach $3 per share by early next year if bankruptcy gets resolved properly & vaccine becomes available to public by Feb 2021
    Bullish
  • S
    SW
    Except as provided in **section 1123**(a)(4) of this title, a class of claims or interests is impaired under a plan unless, with respect to each claim or interest of such class, the plan

    (1)leaves unaltered the legal, equitable, and contractual rights to which such claim or interest entitles the holder of such claim or interest; or
    (2)notwithstanding any contractual provision or applicable law that entitles the holder of such claim or interest to demand or receive accelerated payment of such claim or interest after the occurrence of a default—
    (A)cures any such default that occurred before or after the commencement of the case under this title, other than a default of a kind specified in section 365(b)(2) of this title or of a kind that section 365(b)(2) expressly does not require to be cured;
    (B)reinstates the maturity of such claim or interest as such maturity existed before such default;
    (C)compensates the holder of such claim or interest for any damages incurred as a result of any reasonable reliance by such holder on such contractual provision or such applicable law;
    (D)if such claim or such interest arises from any failure to perform a nonmonetary obligation, other than a default arising from failure to operate a nonresidential real property lease subject to section 365(b)(1)(A), compensates the holder of such claim or such interest (other than the debtor or an insider) for any actual pecuniary loss incurred by such holder as a result of such failure; and
    (E)does not otherwise alter the legal, equitable, or contractual rights to which such claim or interest entitles the holder of such claim or interest.