6.20 0.00 (0.00%)
After hours: 4:28PM EDT
|Bid||6.17 x 2200|
|Ask||6.41 x 3100|
|Day's Range||5.98 - 6.32|
|52 Week Range||5.46 - 12.45|
|Beta (3Y Monthly)||1.79|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 2, 2019|
|Forward Dividend & Yield||0.84 (13.35%)|
|1y Target Est||6.14|
Investors are treating PREIT like it's about to be devastated by the retail apocalypse, but its efforts to drive more traffic to its malls are already bearing fruit.
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.
Pennsylvania Real Estate Investment Trust has signed four local tenants to a special space it calls "Uniquely Philly" at Fashion District Philadelphia, which is scheduled to open this Septemeber. The 4,647-square-foot space will house a collection of local retailers and other businesses that make products germane to Philadelphia and will have a bigger platform at Fashion District Philadelphia to showcase and sell their items. The Philadelphia organization was formed three decades ago by the Wharton Small Business Development Center and gives minority entrepreneurs access to capital, business education and economic development opportunities.
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 ...
PREIT (PEI) adds Yard House at Willow Grove Park to its fold of dining offerings as part of the company's latest endeavor to counter retail market blues and strengthen portfolio.
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.
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 | NeutralETF activity is neutral. ETFs that hold PEI had net inflows of $2.80 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow 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 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.
In its latest endeavor to sail through the retail market blues and boost its redevelopment efforts at Woodland Mall, PREIT (PEI) adds The Cheesecake Factory to its fold as a vital dining anchor.
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Investing in stocks inevitably means buying into some companies thatRead More...
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.
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.