|Bid||0.00 x 3000|
|Ask||0.00 x 3000|
|Day's Range||6.75 - 6.86|
|52 Week Range||5.60 - 12.45|
|Beta (3Y Monthly)||1.95|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.84 (11.67%)|
|1y Target Est||N/A|
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.
Owner Ray Harper describes the menu as "no veto." As in, there's something for everyone.
# Pennsylvania Real Estate Investment Trust ### NYSE:PEI View full report here! ## Summary * ETFs holding this stock have seen outflows over the last one-month * Bearish sentiment is high ## Bearish sentiment Short interest | Negative Short 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 flow ETF/Index ownership | Negative ETF activity is negative. Over the last one-month, outflows of investor capital in ETFs holding PEI totaled $767 million. Additionally, the rate of outflows appears to be accelerating. ## Economic sentiment PMI by IHS Markit | Neutral According to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. ## Credit worthiness Credit default swap CDS data is not available for this security. Please send all inquiries related to the report to firstname.lastname@example.org. 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.
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.
Macerich Co., which is redeveloping the former Gallery, is experimenting with a space for internet-only retailers who want to try a brick-and-mortar presence.
A little piece of Amazon.com Inc. (NASDAQ: AMZN) goes a long way. Fairfax County’s Economic Development Authority worked with 164 companies in calendar year 2017 to add, eventually, nearly 8,200 jobs.
With the third-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the fourth quarter. One of these stocks was Pennsylvania Real Estate Investment Trust (NYSE:PEI). Pennsylvania Real Estate Investment […]
Two Philadelphia-area real estate companies are on the cusp of leaving their long-time headquarters for new office spaces. Toll Brothers Inc., which has been based at 250 Gibraltar Road in Horsham since late 2004, is nearing a lease deal at 1100 Virginia Drive in Fort Washington, according to multiple sources. The company would lease around 160,000 square feet.
Pennsylvania Real Estate Investment Trust (PEI), better known as PREIT, has resorted to a portfolio rejig, investing heavily in refurbishments and remerchandising to increase property value.
PREIT stock retreated after its recent earnings report, driving its yield up to more than 9%. Yet the stock is poised to deliver big gains for investors over the next few years.
Pennsylvania Real Estate (PEI) delivered FFO and revenue surprises of -2.78% and -3.70%, respectively, for the quarter ended September 2018. Do the numbers hold clues to what lies ahead for the stock?
The real estate investment trust, based in Philadelphia, said it had funds from operations of $27 million, or 35 cents per share, in the period. The average estimate of four analysts surveyed by Zacks ...
Landlords have been dealing with multiple chains and department stores closing over the last five years or so. At one point, Pennsylvania Real Estate Investment Trust had 27 Sears in its mall portfolio.
The bankruptcy filing would end a standoff between Chief Executive Officer Eddie Lampert, the retailer's biggest shareholder and lender, and a special board committee the company has formed to consider a rescue plan proposed by Lampert that would involve asset sales and a debt restructuring. The committee has been resisting the plan amid concerns that creditors and shareholders would sue over it being too favourable for Lampert.