PEI - Pennsylvania Real Estate Investment Trust

NYSE - Nasdaq Real Time Price. Currency in USD
-0.01 (-0.18%)
As of 9:39AM EST. Market open.
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Previous Close5.43
Bid0.00 x 800
Ask5.69 x 4000
Day's Range5.41 - 5.48
52 Week Range4.34 - 8.56
Avg. Volume1,625,953
Market Cap420.548M
Beta (3Y Monthly)1.23
PE Ratio (TTM)N/A
EPS (TTM)-1.40
Earnings DateFeb 11, 2020 - Feb 17, 2020
Forward Dividend & Yield0.84 (14.14%)
Ex-Dividend Date2019-11-29
1y Target Est4.85
  • Lord & Taylor to lay off dozens at Moorestown Mall amid store closure
    American City Business Journals

    Lord & Taylor to lay off dozens at Moorestown Mall amid store closure

    Lord & Taylor will lay off 81 employees at its department store at the Moorestown Mall in Moorestown, N.J., as part of the brand’s sale to Le Tote Inc. Lord & Taylor occupies 121,200 square feet at Moorestown and its lease is scheduled to expire in 2020, according to documents filed with the Securities Exchange Commission. Hudson’s Bay Co. entered into an agreement in August to sell its Lord & Taylor brand to Le Tote, a San Francisco company that is a fledgling clothing rental service.

  • From Clicks to Bricks: PREIT Welcomes Four Digitally-Native Retailers to Portfolio
    PR Newswire

    From Clicks to Bricks: PREIT Welcomes Four Digitally-Native Retailers to Portfolio

    PHILADELPHIA, Nov. 20, 2019 /PRNewswire/ -- PREIT (PEI) welcomes new retailers to elite properties as digitally-native brands continue to find value in a brick and mortar presence. Once considered online-only retailers, Stance, Morphe, Peloton, and Makarios will bring their products to traditional retail space within the malls, with Makarios having opened in October at Woodland Mall, and Morphe and Stance having opened this month at Cherry Hill Mall; Peloton will follow closely behind in spring 2020.

  • One Thing To Remember About The Pennsylvania Real Estate Investment Trust (NYSE:PEI) Share Price
    Simply Wall St.

    One Thing To Remember About The Pennsylvania Real Estate Investment Trust (NYSE:PEI) Share Price

    If you're interested in Pennsylvania Real Estate Investment Trust (NYSE:PEI), then you might want to consider its beta...

  • PREIT Highlights New Portfolio Following Opening of Three Catalyst Projects within the Past 60 Days
    PR Newswire

    PREIT Highlights New Portfolio Following Opening of Three Catalyst Projects within the Past 60 Days

    PHILADELPHIA, Nov. 12, 2019 /PRNewswire/ -- PREIT (PEI) celebrated a milestone fall with the successful opening of its newest property, Fashion District Philadelphia; a new phase of tenant openings at Plymouth Meeting Mall; and the redevelopment and expansion of Woodland Mall. PREIT's investment of over $360 million and years of strategic planning at these properties has already proven successful, with sales and traffic exceeding expectations across all three opening weekends, setting the stage for the future of each property.

  • 5 Retail Stocks Getting Nothing but Coal This Holiday Season

    5 Retail Stocks Getting Nothing but Coal This Holiday Season

    It's already here. The sights. The sounds. The red cups. The holiday spending frenzy is once upon us -- whether we are ready for it or not. For many retail stocks, this is the most critical period all year. The don't call it Black Friday for nothing. However, the consumer spending environment continues to get even more cutthroat and hard to navigate.Thanks to online and omni-channel shopping, mobile commerce, one- and two-day shipping and a host of other reasons, many retail stocks are already suffering. The sector is quickly becoming a bifurcated industry -- with haves and have-nots fighting for survival. And the holiday season has only exacerbated this fight. Extra discounting, sales and "door-busters" make a tough environment even tougher.That means there are several retail stocks that aren't going to fair too well over the next few months. And in a few cases, they may not be around much longer.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFor investors, knowing which companies to avoid can be just as important as knowing which stocks to buy. * 7 Large-Cap Stocks to Give a Wide Berth And with that, here are five retail stocks that should get a big lump of coal this holiday season. J. C. Penney (JCP)Source: Supannee_Hickman / After Sear's bit the dust, it's easy to dunk on J. C. Penney (NYSE:JCP) as being the next major retail stock to meet its maker. Like Sear's, JCP is an old-fashioned department store in a world that no longer supports that style of retail concept. Big discounters like Walmart (NYSE:WMT) and e-commerce giants like Amazon (NASDAQ:AMZN) simply do it better. And in that, J. C. Penney has been suffering for years.The problem is, the suffering may finally be hitting a critical level.Debt at JCP remains an issue. As of last quarter, the retailer had roughly $3.6 billion in long-term debt on its balance sheet and about $1 billion in operating lease obligations. The problem is that JCP only has about $175 million in the bank and short-term investments. That's not exactly a great ratio of debt to cash. Nor is that great when sales continue to slide as e-commerce eats its lunch.Even worse is that sort of debt makes it harder for JCP to expand and update in a meaningful way. Sure, the firm has a new store concept, but it simply lacks the funds to roll it out to a variety of locations. Target (NYSE:TGT) spent more than $7 billion remodeling its stores to make them "hipper" and omni-channel friendly. JCP simply doesn't have that kind of cash or time.With JCP already talking to creditors about restructuring its debts, sales continuing to sleep and other rivals getting strong, it's only a matter of time until the firm has to pack up. For investors, JCP is easily a retail stock to avoid this holiday season. Wayfair (W)Source: Jonathan Weiss / It's not that Wayfair (NYSE:W) is a bad choice among retail stocks, it's just that a few issues may be hitting its torrid pace of growth. In this case, we're talking about costs across a variety of fronts.While its revenues have continued to climb, W stock has started to see its margins erode and various costs start to increase. As with JCP above, playing in the e-commerce world is an expensive game. Unfortunately for Wayfair, it's now being forced to shell out more to keep those revenues climbing.Last quarter, Wayfair was forced to spend 58.7% more on technology, infrastructure and other expenses related to gathering sales and getting them to consumers fast. Advertising spending jumped more than 12%. Meanwhile, the actual costs of its goods managed to jump as the trade war continues to slog on. All in all, the issues with costs have made U.S. margins a fat negative 3% for W.That doesn't instill much confidence heading into a slowing consumer environment. Add in the fact that other rivals continue to spend more in order to boost shipping, fulfillment and ordering ease, and you start to see a worrisome picture for Wayfair. No wonder why shares cratered the day it announced its results and poor outlook. * 7 Beverage Stocks to Stock Up On W stock isn't a bad retailer overall. It's just that the firm is dealing with some things outside its control. And because of that, it could be rocky for the firm going forward. Shares may still have more room to drop. Gap (GPS)Source: Alex Millauer / The middle isn't exactly a great place to be these days. Consumers either want high-end products or deep bargains. For retail stocks offering clothing like the Gap (NYSE:GPS), this is a tough pill to swallow.Sales continue to decline at Banana Republic and Gap as these brands struggle to find an audience.The bright spot for GPS stock has continued to be its bargain-brand Old Navy. These days, Old Navy accounts for roughly 50% of Gap's total sales -- with the other brands bringing in the rest -- around $7.9 billion from Old Navy against $8.7 billion for the other brands. But the pace of revenue growth at Old Navy has been brisk.To that end, GPS has decided to spin out Old Navy as a separate company. And that might seem like a good idea at first. The problem is, Gap really needs those assets to keep the ship moving. GPS is profitable at its other brands, but their slow decline is a spot for concern. Secondly, the hallmark of Gap's online operations has been the one-bag integration of all its brands. Picking up incremental sales and cross-selling has worked in its favor.What's worst is that even execs at Gap aren't sure of the spinoff plans. CEO Art Peck abruptly resigned from the company.With reduced guidance, slowing traffic and no real plans to get out of its funk, GPS is one retails stock that will continue to face some big issues. Those issues will take center stage during this holiday season. Chico's (CHS)Source: Kristi Blokhin / "OK Boomer" maybe be a rallying cry among America's youth, but it's also being directed towards a bunch of retail stocks. Take Chico's (NYSE:CHS) for example.Chico's runs a variety of stores -- including its namesake, Soma and White House Black Market. Generally, these brands fall under the higher-end and casual work clothing umbrellas. The problem for CHS is that this sort of style really isn't in focus anymore with millennial and Generation Z shoppers. With joggers now an office staple and bralettes replacing traditional intimate apparel, Chico's is facing a real problem. It doesn't have a core audience anymore. The Boomers are gone and the younger generations aren't buying.Last quarter alone, sales declined by 6.1%. This follows the trend of continued lower quarterly sales figures.Like many of the retailers on this list, CHS is realizing these lower sales at a time when debts and costs have risen. Thanks to its high-end nature, most of its store frontage is in upper-scale malls. Thanks to this, rent expenses are higher and produces more drag on its bottom line. No wonder why Chico's has started closing stores -- 53 have closed over the last three months. * These 7 Stocks to Buy Were Big Winners This Earnings Season In the end, Chico's is a brand without any buyers. With no real plans to turn the ship around, CHS stock could be a real drag this holiday season. Pennsylvania Real Estate Investment Trust (PEI)Source: jayk67 / If many retail stocks are suffering, then the owners of malls and shopping plazas must be really feeling the heat. Pennsylvania Real Estate Investment Trust (NYSE:PEI), also known as PREIT, is a prime example of the carnage being felt by the mall owners.PEI started out as a sprawling regional mall operator and as the recession hit, it took great steps to improve its portfolio of properties. That worked in raising its average sales per square foot and boosting quality of tenants. This worked great and the stock rebounded.And then the bottom dropped out for PREIT.This year, we've seen a variety of retailers such as Payless, Gymboree, Things Remembered and now Forever 21 file for bankruptcy. All of which are fodder for PREIT's style of malls. These closes are starting to once again hurt PEI's bottom line.For the third quarter, PREIT saw its same-store net operating income decline by 5.8% year over year. That decline doesn't exclude lease terminations. And with that, decline, funds from operations -- or the cash that the REIT has to deliver to investors as dividends -- dropped by 34% year-over-year. This follows a 44% year-over-year decline in FFO for the second quarter.PEI stock and its juicy 14% dividend is in trouble. This proves that the carnage in retail stocks is wide reaching.At the time of writing, Aaron Levitt had a long position in AMZN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Large-Cap Stocks to Give a Wide Berth * 7 Potential New Stocks That Should Not Go Public * 5 Chinese Stocks to Buy Surging Higher The post 5 Retail Stocks Getting Nothing but Coal This Holiday Season appeared first on InvestorPlace.

  • Thomson Reuters StreetEvents

    Edited Transcript of PEI earnings conference call or presentation 30-Oct-19 3:00pm GMT

    Q3 2019 Pennsylvania Real Estate Investment Trust Earnings Call

  • One month in, Fashion District shows signs of success
    American City Business Journals

    One month in, Fashion District shows signs of success

    Fashion District Philadelphia has seen more than a million people visit the redeveloped Center City mall since its grand opening Sept. 19 and retailers are so far reporting strong sales, according to Pennsylvania Real Estate Investment Trust. During the opening week, 87% of the mall's retailers indicated they had sales ahead of expectations and some retailers reported results that were double or triple their initial projections, said Joe Coradino, CEO of PREIT, during a third quarter conference call with analysts on Wednesday. The initial strong showing at Fashion District has prompted PREIT to be more selective when it comes to signing new tenants to the rest of the 1.1-million-square-foot retail center.

  • Is Pennsylvania Real Estate Investment Trust (PEI) Going to Burn These Hedge Funds?
    Insider Monkey

    Is Pennsylvania Real Estate Investment Trust (PEI) Going to Burn These Hedge Funds?

    Amid an overall bull market, many stocks that smart money investors were collectively bullish on surged through October 17th. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 45% and 39% respectively. Our research shows that most of the stocks that smart money likes historically generate strong risk-adjusted returns. […]

  • Pennsylvania Real Estate (PEI) Q3 FFO and Revenues Lag Estimates

    Pennsylvania Real Estate (PEI) Q3 FFO and Revenues Lag Estimates

    Pennsylvania Real Estate (PEI) delivered FFO and revenue surprises of -20.69% and -0.77%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?

  • PR Newswire

    PREIT Reports Third Quarter 2019 Results and Updates Full Year Expectations

    Opened Three Major Redevelopment Projects including Fashion District Philadelphia Over 1 million People Visited Fashion District Since Opening 537,000 Square Feet of Leases Executed for Future Occupancy ...

  • Primark Headlines List of New Tenants Coming to Fashion District Philadelphia
    PR Newswire

    Primark Headlines List of New Tenants Coming to Fashion District Philadelphia

    PHILADELPHIA, Oct. 29, 2019 /PRNewswire/ -- Fashion District Philadelphia, a joint venture partnership between PREIT and Macerich, today announced that international fast fashion retailer Primark will anchor the west end of the project with a high-profile location at the corner of 11th and Market along with two other catalyst tenants also joining the rapidly expanding line-up of offerings. Alongside the addition of Primark will be cosmetic and beauty supply giant Sephora and designer apparel company Kate Spade New York Outlet.

  • Primark opening store at Fashion District Philadelphia
    American City Business Journals

    Primark opening store at Fashion District Philadelphia

    Primark, an Irish-based retailer, has signed a 34,200-square-foot lease at the corner of 11th and Market streets at the redeveloped Fashion District Philadelphia. This will be the third store for the company in Pennsylvania. It entered the Philadelphia market in 2015 when it opened in the former Sears space at the King of Prussia Mall and also has a store in the Willow Grove Mall.

  • PR Newswire

    PREIT Declares Quarterly Dividend for Common and Preferred Shares

    PHILADELPHIA, Oct. 28, 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 December 16, 2019 to common shareholders of record on December 2, 2019. The December 16th dividend payment will be the Company's 171st 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.

  • PREIT Completes Key Step in Portfolio Transformation with Opening of Woodland Mall Expansion
    PR Newswire

    PREIT Completes Key Step in Portfolio Transformation with Opening of Woodland Mall Expansion

    PHILADELPHIA, Oct. 10, 2019 /PRNewswire/ -- PREIT (PEI) today celebrates the opening of the highly-anticipated Woodland Mall expansion wing. In 2017, the Company proactively recaptured the Sears store to make way for new and compelling uses, ensuring the long-term strength of this market-dominant destination.

  • PR Newswire

    PREIT Schedules Third Quarter 2019 Earnings Release and Conference Call

    October 30, 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  2181645, 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,  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. PREIT (PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets.

  • Coworking operator takes 47,000 square feet at Fashion District
    American City Business Journals

    Coworking operator takes 47,000 square feet at Fashion District

    Industrious, a coworking operator, will occupy space at Fashion District Philadelphia and now has three locations in the city. It will have 47,000 square feet at Fashion District that it will manage and operate as coworking space. The company occupies 55,000 square feet in Two Liberty Place at 50 S. 16th St. and entered the market in 2015 when it took two full floors, or about 21,000 square feet, at 230 S. Broad St. Coworking is a relatively new offering at malls but is a growing segment.

  • 7 Stocks the Insiders Are Buying on Sale

    7 Stocks the Insiders Are Buying on Sale

    [Editor's Note: This article is updated each week with the latest insider purchasing. Check back regularly to see who's making moves.]An insider is a person who has access to confidential information about a company. And when I'm analyzing a company as a potential long-term investment, I always like to know what the insiders are doing. They have a much better idea of what is happening in the company than most analysts. When there is insider buying after the price of the stock has recently dropped, it could be a bullish signal.Over the years, there have been numerous examples of insiders using this information to profit at the expense of uninformed investors. For example, suppose an insider knows that news is about to be released that will make the stock price go up. They can buy it from a shareholder who doesn't have access to the news at a cheaper price then benefit from the gains.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBecause of these abuses, the SEC has established rules and procedures to prevent this type of activity. When an insider wants to buy or sell their company's stock, they have to file a form with the SEC. This is public information, and it can lead to investment ideas.There are numerous reasons why an insider of a company may need to sell their stock. They may need to raise money for things such as tuition or to buy a home. However, there is only one reason why an insider would buy their company's stock -- they believe that it is undervalued and they will make money. * 7 Stocks to Buy Under $10 These seven stocks have had significant insider buying recently and could be worth a look. Stocks With Insider Buying: Church & Dwight (CHD)Church & Dwight (NYSE:CHD) manufactures and sells household, personal care and specialty products.CHD stock has been under pressure recently. Well-known short seller Ben Axler of Spruce Point Capital Management said that the company engages is "extreme financial engineering, aggressive accounting and material self-enrichment practices." That sounds pretty bad.Matthew Farrell is the president and CEO of Church & Dwight. Apparently he disagrees with this assessment. He must believe that the stock will soon recover because he just made a significant personal investment of $500,000. He bought 7,000 shares at $71.32. Liberty TripAdvisor Holdings (LTRPA)Liberty TripAdvisor Holdings (NASDAQ:LTRPA) engages in online travel research and online commerce business.Over the past year, the price of LTRPA has fallen dramatically. Last November it traded as high as $20. Now it is trading below $10. Wall Street is neutral on the company. Only two firms follow it, and they each have hold ratings on it. * 30 Marijuana Stocks to Buy as the Future Turns Green Gregory Maffei has been an officer of Liberty for five years. He is the chairman, president and CEO of the company. He must feel that the stock is a great value at current levels, because he just invested $160,000 when he paid $10.38 a share for over 15,000 shares. Pacific Mercantile Bancorp (PMBC)Pacific Mercantile Bancorp (NASDAQ:PMBC) operates as a holding company that provides a range of commercial banking and services to small- and medium-sized businesses.After making a significant drop in price from last September through December, PMBC stock has been volatile but it has basically traded sideways.The Board of Directors just announced that they have appointed Brad Dinsmore as the president and CEO of the company. From 2011 to 2017, Dinsmore was executive vice president of SunTrust Banks.He must have a lot of confidence that he will be able to take actions that will cause the price of the stock to rise. He recently paid $7.98 for 28,000 shares. This is an investment of almost $225,000. Pennsylvania Real Estate Investment Trust (PEI)Pennsylvania Real Estate Investment Trust (NYSE:PEI) is a publicly traded REIT that owns and manages quality properties in compelling markets.PEI stock has sold off significantly over the past year. Last August it was trading around $11 a share. It is currently trading around the $5.50 level.Wall Street does not like this stock. Seven firms follow it. The average rating in underweight and the average price target is $5.25, which is below where it is currently trading. * 7 Triple-'F' Rated Stocks to Leave on the Shelf Leonard Korman is a director of PEI. Apparently he believes that the stock will turn around because he just paid $5.29 for 30,000 shares. In August he also bought 30,000 shares as well. His total investment was about $300,000. There was also buying by other insiders as well. Aldeyra Therapeutics (ALDX)Aldeyra Therapeutics (NASDAQ:ALDX) is a biotechnology company that develops and commercializes medicines for immune-mediated ocular and systemic diseases.ALDX stock has lost over 50% of its value in the past year. This isn't surprising because the company loses a lot of money. Last quarter it reported losses of $13 million and in the prior quarter the loss was more than $15 million.Todd Brady, the president and CEO of Aldeyra, invested roughly $85,000 into the company on Sept. 18, buying 14.288 shares at $5.91 per share. In addition, on Sept. 9 and Sept. 10 he paid an average of $5.14 for 20,000 shares. This was a $100,000 investment. Sarepta Therapeutics (SRPT)Sarepta Therapeutics (NASDAQ:SRPT) focuses of the discovery and development of medicines for rare diseases.Over the past two months, the price of SRPT stock has lost 50% of its value. It dropped from levels around $160 to current levels around $80.This is primarily due to the fact that the company received some disappointing news from the FDA. First, one of their drugs that is in a clinical trial caused serious side effects. Second, another drug has to be delayed beyond when it was supposed to hit the market. * 8 Dividend Stocks to Buy for a Recession Richard Barry is a director of the company. He must believe that this selling has created a buying opportunity. He just invested almost $290,000 when he bought 3,309 shares at $87.49. Lexicon Pharmaceuticals (LXRX)Lexicon Pharmaceuticals (NASDAQ:LXRX) is a biopharmaceutical company that develops and sells pharmaceutical products.The price of LXRX stock had been trending lower for almost a year. Then at the end of July it reported that its partnership with Sanofi (NASDAQ:SNY) had terminated the partnership and plunged from $6 to $2.The insiders of the company must believe that this selling was overdone because they have been making significant purchases of the stock.Lonnel Coats is the president and CEO of Lexicon Pharmaceuticals. He invested over $300,000 in the stock when he acquired 100,000 shares for an average price of around $3.11. Raymond Debbane is a director of the company. He just made an investment of about $700,000 when he bought about 290,000 shares. There have been purchases by other insiders as well.At the time of this writing Mark Putrino did not hold any positions in the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy Under $10 * 30 Marijuana Stocks to Buy as the Future Turns Green * 7 Consumer Stocks Ready to Rally Hard The post 7 Stocks the Insiders Are Buying on Sale appeared first on InvestorPlace.

  • A New Plymouth Meeting Mall Experience Awaits Consumers
    PR Newswire

    A New Plymouth Meeting Mall Experience Awaits Consumers

    PHILADELPHIA, Sept. 25, 2019 /PRNewswire/ -- PREIT (PEI) today announced the successful incorporation of new anchor tenants and the next phase of tenant openings at Plymouth Meeting Mall. As part of its overall anchor repositioning and remerchandising strategy, PREIT has diversified the tenant roster with unique and experiential concepts to reflect a new mall model and drive traffic and sales. As part of its efforts to drive the quality of its portfolio and upgrade anchor spaces, PREIT is welcoming over 200,000 square feet of new retail, dining and experiential concepts for consumers at Plymouth Meeting Mall.

  • Fashion District Philadelphia Set to Open, Redefining The Future of Retail
    PR Newswire

    Fashion District Philadelphia Set to Open, Redefining The Future of Retail

    PHILADELPHIA, Sept. 17, 2019 /PRNewswire/ -- The joint venture partnership between PREIT (PEI) and Macerich today announces the official launch of Fashion District Philadelphia (The District), a well-curated one-of-a-kind destination that blends shopping, dining, entertainment and culture to create a unique downtown destination that is inclusive, accessible and convenient for everyone. The opening of The District is one of many milestones for PREIT in 2019, a pivotal year for the company. From a variety of retailers to multiple dining concepts, dynamic entertainment for kids and adults alike, ongoing community events and programs, and several unique features – including art installations and local businesses – the offerings at The District are designed to maximize day-to-night appeal and deliver an unforgettable experience for all.

  • PR Newswire

    PREIT Announces Chief Financial Officer Transition

    PHILADELPHIA, Sept. 16, 2019 /PRNewswire/ -- PREIT (PEI) ("Company") today announced its intention to promote Mario C. Ventresca, Jr., Executive Vice President – Operations, to Executive Vice President and Chief Financial Officer.  He will replace current Executive Vice President and Chief Financial Officer Bob McCadden who will leave the Company effective December 31, 2019.  Mr. McCadden will transition his current responsibilities to Mr. Ventresca over the balance of the year.

  • This REIT Stock Is Struggling, but Its Top 2 Malls Are Thriving
    Motley Fool

    This REIT Stock Is Struggling, but Its Top 2 Malls Are Thriving

    The company has invested heavily in its best malls -- and those investments are paying off.