|Bid||0.00 x 800|
|Ask||0.00 x 1100|
|Day's Range||5.95 - 6.27|
|52 Week Range||5.46 - 11.68|
|Beta (3Y Monthly)||1.38|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.84 (12.69%)|
|1y Target Est||N/A|
PHILADELPHIA, June 19, 2019 /PRNewswire/ -- PREIT (PEI) today announced Burlington as the lead replacement for Sears at Dartmouth Mall in North Dartmouth, MA following the Company's proactive recapture of the store. PREIT is in discussions with other large format retailers to complement Burlington. This strategic remerchandising is another key milestone in PREIT's anchor repositioning efforts to elevate its portfolio with differentiated and high-quality concepts that will increase traffic and sales.
PHILADELPHIA, June 3, 2019 /PRNewswire/ -- PREIT (PEI) reports that the remerchandising of its portfolio continues to yield results and mitigates the impact of store closings. April comparable store sales were up to $525 per square foot in PREIT's core mall portfolio with three properties now topping $600 per square foot and Willow Grove Park exceeding $750 per square foot. In the face of announced store closings, the Company reports that the recently announced liquidation of the dressbarn chain does not impact the Company's core mall portfolio. Highlighting the appeal of its portfolio, at the recent industry deal-making convention- ICSC RECon - PREIT hosted over 100 meetings with potential new-to-portfolio brands, a key measure of success for the Company.
In the news release, PREIT to Present at REITWeek® 2019: NAREIT's Investor Forum, issued 28-May-2019 by PREIT over PR Newswire, we are advised by the company that the second paragraph, first sentence, should read "2:15 pm to 2:45 pm EDT" rather than "2:00 pm to 2:30 pm EDT" as originally issued inadvertently. PHILADELPHIA, May 28, 2019 /PRNewswire/ -- PREIT (PEI) today announced that Chief Executive Officer Joseph F. Coradino and Executive Vice President and Chief Financial Officer Robert F. McCadden will present at NAREIT's REITWeek® 2019 in New York, New York.
Core Mall Sales Per Square Foot reached record high of $517 Completed $43 million in asset sales and improved liquidity position by over $70 million Core Mall Occupancy increased 100 bps to 94.7% Full ...
PHILADELPHIA, April 29, 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 June 17, 2019 to common shareholders of record on June 3, 2019. 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. PREIT (PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets.
PHILADELPHIA, April 16, 2019 /PRNewswire/ -- Fashion District Philadelphia, a joint venture partnership between PREIT and Macerich, today announced four inaugural tenants for Uniquely Philly – a curated collection of local small businesses with authentic Philadelphia offerings. The local businesses will have an opportunity to establish and grow their brands in a highly trafficked shopping destination in the heart of Philadelphia.
Issued Just Weeks Ahead of 1Q Earnings Reports for U.S. Shopping Mall REITs, In-Depth Report Shows Volatile Activity Since 'Retail Apocalypse' New Performance Update Uses Unique 'Thasos Trade Area' Tool ...
PHILADELPHIA, April 11, 2019 /PRNewswire/ -- PREIT (PEI) today announced the addition of Yard House at Willow Grove Park, enhancing the mall's tenant roster with a sought after dining experience. Slated to open this winter, Yard House will join Studio Movie Grill as Willow Grove Park aims to "win the weekend" with consumers who can enjoy a high quality shopping and social experience in one place. PREIT's most productive property on a sales per square foot basis, exceeding $700, Willow Grove Park already boasts a impressive lineup of tenants including Bloomingdales, Apple, Michael Kors, Sephora, Vans, The Cheesecake Factory and Primark, among others.
PHILADELPHIA, April 10, 2019 /PRNewswire/ -- Pennsylvania Real Estate Investment Trust (PREIT/NYSE: PEI) intends to release its financial results for the quarter ending March 31, 2019 after market trading closes on Thursday May 2, 2019. Management has scheduled a conference call for 11:00 a.m. Eastern Time on Friday, May 3, 2019, to review the Company's results and future outlook. To listen to the call, please dial 1-844-885-9139 (domestic toll free), or 1-647-689-4441 (international), and request to join the PREIT call, Conference ID 4279998, at least five minutes before the scheduled start time. Investors can also access the call in a "listen only" mode via the internet at the Company's website, preit.com. Please allow extra time prior to the call to visit the site and download the necessary software to listen to the Internet broadcast. Financial and statistical information expected to be discussed on the call will also be available on the Company's website.
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.
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 ...
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.
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 ...
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.
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.
Management has scheduled a conference call for 11:00 a.m. Eastern Time on Thursday, February 14, 2019, to review the Company's results and future outlook. To listen to the call, please dial 1-844-885-9139 (domestic toll free), or 1-647-689-4441 (international), and request to join the PREIT call, Conference ID 3088886, at least five minutes before the scheduled start time. Investors can also access the call in a "listen only" mode via the internet at the Company's website, preit.com. Please allow extra time prior to the call to visit the site and download the necessary software to listen to the Internet broadcast. Financial and statistical information expected to be discussed on the call will also be available on the Company's website. For best results when listening to the webcast, the Company recommends using Flash Player.
PHILADELPHIA, Jan. 17, 2019 /PRNewswire/ -- PREIT (PEI) today announced the completion of key leasing of the former Macy's box at Moorestown Mall, executing a lease with Michaels, which will occupy 25,000 square feet of space, offering arts, crafts, framing, floral, wall décor and seasonal merchandise for do-it-yourselfers of all ages. Michaels will join HomeSense, Five Below and Sierra Trading Post in the former Macy's location, creating a diverse and compelling retail mix reflective of the new mall platform. Michaels is expected to open in late 2019, marking another milestone in redefining the property experience. Complementing the recently opened anchor stores, are new dining experiences: Hash House A Go Go and Joe Italiano's Maplewood. The new-to-market tenants will complement the existing dining options and will deliver appealing offerings in the Moorestown community.
PHILADELPHIA , Jan. 15, 2019 /PRNewswire/ -- PREIT (NYSE: PEI) today announced that the tax status of the distributions paid per share during 2018 is as follows: COMMON SHARES IRS Form 1099-DIV CUSIP: ...
PHILADELPHIA, Nov. 29, 2018 /PRNewswire/ -- PREIT (PEI) today announces strong results to kick off the holiday shopping season, reporting a significant increase in traffic throughout the four-day Thanksgiving weekend (Thursday through Sunday) at properties with recent anchor redevelopment or remerchandising initiatives, in comparison to 2017. Traffic at the mall grew 11 percent, one of the largest increases across the portfolio. PREIT proactively recaptured and replaced the former Sears store with DICK's Sporting Goods, Field & Stream, and HomeGoods – all of which opened in September 2017. This year's holiday weekend results underscore the overwhelming success of these efforts and the reimagined mall overall.
PHILADELPHIA, Nov. 12, 2018 /PRNewswire/ -- PREIT (PEI) completed the sale of a 4-acre parcel at Exton Square to Hanover Company, generating gross proceeds of $10.3 million. The sale will give rise to over 300-unit luxury apartments on the site of Exton Square Mall, where a new Whole Foods opened earlier this year as a preliminary step in reimagining this property. This transaction marks a critical step in PREIT's high-priority densification program, designed to transform its properties into remarkable and innovative environments, with retail at the core. In May, the Company announced that its portfolio comprised of well-located properties in high barrier-to-entry markets pave the way for the opportunity to revolutionize PREIT's platform through densification opportunities inclusive of 5,000 – 7,000 residential units in the Philadelphia and Washington DC markets and 1,500-3,000 hotel units across a dozen properties. Toward this end, the Company is in active discussions on three additional multifamily opportunities and three hotel opportunities.
NEW YORK, Nov. 02, 2018 -- In new independent research reports released early this morning, Market Source Research released its latest key findings for all current investors,.
Retail and dining concepts complement Burlington, DICK's Sporting Goods and Edge Fitness in replacing the former Macy's box Highlights PREIT's prowess in bringing new and diverse uses to the mall through ...
Opened four tenants in three former department stores Core mall total leased space reached 95.2%, up 90 basis points sequentially Non-anchor new leasing activity more than doubled over Q3 2017 volume NOI-weighted ...