Pennsylvania Real Estate Investment Trust

Pennsylvania Real Estate Investment Trust engages in the ownership, management, leasing, acquisition, redevelopment, and disposition of shopping malls. The firm focuses on shopping malls located in the eastern half of the U.S. primarily in the Mid-Atlantic region. Its property portfolio includes Cherry Hill Mall, Plymouth Meeting Mall, Mall at Prince Georges, and Springfield Town Center. The company was founded by Sylvan M. Cohen in 1960 and is headquartered in Philadelphia, PA.

Earnings data Q3 2024

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Success. It’s built on a foundation of strong relationships and accomplished through experience, tenacity and teamwork. For nearly three decades, Metro Commercial has set the pace as one of the strongest, full-service, independent retail real-estate firms in the nation.   Metro specializes in retailer and landlord representation, property management, investment sales and development services. Fueled by local expertise and national capabilities, our team delivers the connections you need to succeed. Metro doesn’t just get it, we get it done.

PHILADELPHIA, July 1, 2021 /PRNewswire/ -- PREIT (NYSE: PEI) intends to release its financial results for the quarter ending June 30, 2021 before market trading begins on Thursday, August 5, 2021.  Management has scheduled a conference call for 11:00 a.m.

PREIT Schedules Second Quarter 2021 Earnings Release and Conference Call

PHILADELPHIA, July 1, 2021 /PRNewswire/ -- PREIT (NYSE: PEI), a leading real estate owner and developer, redefining the future of the mall with mixed-use community-centric districts, today announced that it has entered into over $172 million of mortgage loans, in the aggregate and reflecting the Company's share.  The mortgages are secured by Viewmont Mall, Francis Scott Key Mall and two of the Company's joint venture open-air assets, Court at Oxford Valley and Red Rose Commons, extending all of the Company's near term maturities.

PREIT Completes Key Steps in Extending Debt Maturities

Pennsylvania Real Estate Investment Trust is an interesting case study for how restructuring can be used to improve a company's lifeline without harming shareholders.

Pennsylvania Real Estate Investment Trust Is A Binary Prospect

Traffic, tenant sales, and leasing activity have come roaring back for Pennsylvania Real Estate Investment Trust in recent months. Will it be enough to save the company?

1 Retail REIT Sees More Signs of Recovery

PHILADELPHIA, June 23, 2021 /PRNewswire/ -- PREIT (NYSE: PEI), a leading real estate owner and developer, redefining the future of the mall with mixed-use districts, highlighted several factors contributing to its optimism about the recovery of its communities: Traffic  - During the month of May, traffic on average throughout PREIT's portfolio exceeded 90% of May 2019 levels.  Five standout properties generated traffic of 105% of 2019 levels and continue to outperform 2019 today.

PREIT Celebrates the Strong Consumer and the Positive Implications for the Pace and Strength of Industry Recovery

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PHILADELPHIA, June 3, 2021 /PRNewswire/ -- PREIT (NYSE: PEI) today announced that Chairman of the Board and Chief Executive Officer Joseph F. Coradino will present at NAREIT's REITWeek® 2021 virtual Investor Forum.

PREIT to Present at REITWeek® 2021: NAREIT's Investor Forum

PHILADELPHIA, May 19, 2021 /PRNewswire/ -- PREIT (NYSE: PEI), a leading operator of diverse retail and experiential destinations, today announced the finalization of transactions associated with bringing Cooper University Health Care to Moorestown Mall, one of the Company's key High Barrier-to-Entry market properties. This addition represents a continued, strategic shift in PREIT's mix of tenancy across its properties, curating diverse and expansive environments marked by a healthy mix of multifamily housing, hotels, entertainment, dining, health & wellness, working space, and local small business retail.

PREIT and Cooper University Health Care Finalize Transaction for Moorestown Location

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How To Be A Successful REIT Investor

PHILADELPHIA, May 13, 2021 /PRNewswire/ -- PREIT (NYSE: PEI), a leading operator of diverse retail and experiential destinations, today announced that the Company has signed a new lease for a fulfillment center at Cumberland Mall in Vineland, NJ. The approximately 80,000 square foot facility will soon occupy the former Burlington space delivering a new source of non-retail revenue.

PREIT Executes 80,000 Square Foot Fulfillment Center at Cumberland Mall

The struggling mall owner experienced a surge in leasing volume last quarter, but it still faces big challenges as it tries to recover from its late-2020 bankruptcy filing.

PREIT Earnings: Modest Progress, Lots of Work Left

Pennsylvania Real Estate Investment Trust (PEI) CEO Joseph Coradino on Q1 2021 Results - Earnings Call Transcript

PHILADELPHIA, May 5, 2021 /PRNewswire/ -- PREIT (NYSE: PEI) today reported results for the three months ended March 31, 2021.  A description of each non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is provided in the tables accompanying this release.

PREIT Reports First Quarter 2021 Results

PHILADELPHIA, April 28, 2021 /PRNewswire/ -- PREIT (NYSE: PEI) intends to release its financial results for the quarter ending March 31, 2021 after market trading closes on Wednesday, May 5, 2021.  Management has scheduled a conference call for 11:00 a.m.

PREIT Schedules First Quarter 2021 Earnings Release and Conference Call

PHILADELPHIA, April 28, 2021 /PRNewswire/ -- PREIT (NYSE: PEI), a leading operator of distinctive real estate in high barrier-to-entry markets, today provided an update on robust demand for space in its evolving communities driven by their distinctive appeal and an improving in-person experience landscape. During the first quarter of 2021, the Company executed transactions to occupy nearly 600,000 square feet of space.

PREIT Reports Robust Leasing Activity Growth as it Welcomes New Tenants to Diverse Portfolio

PHILADELPHIA, April 19, 2021 /PRNewswire/ -- PREIT (NYSE: PEI), a leading operator of distinctive real estate in high barrier-to-entry markets, today provided an update on collections and activity and its improving liquidity position. Collections The Company reports continued sequential improvement in collection levels and recouping deferred rents from prior periods.

PREIT Generates Collections and Liquidity Improvements

PREIT's common and preferred shares survived the REIT's late 2020 bankruptcy filing intact. Most of PREIT's malls are likely to recover nicely from the COVID-19 pandemic, although it may take a few years for occupancy and rents to return to pre-pandemic levels.

PREIT Preferred Shares: A High-Risk Deep Value Play

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My paper losses on mall REITs remain significant.

Media Narratives, Malls, And Black Swans

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Our portfolios were pretty well-placed entering the pandemic period. We were even then maintaining “underweight positioning with mall REITs and shopping center REITs… recognizing that there are still many retailers rightsizing their portfolios."

Year In Review: Our 10x Approach

From Bad to Worse. Before the pandemic, we warned that several mall REITs were "one recession from extinction." Two REITs have since entered bankruptcy and a third is close behind. Pushed over the edge by the pandemic, mall REITs entered 2020 on already unstable footing following a tsunami of store closings over the past decade and relentless share price declines.

Mall REITs: It Can Always Get Worse

Pennsylvania Real Estate Investment Trust may have emerged from bankruptcy quickly, but it isn't out of the woods yet.

This REIT Survived Bankruptcy: These Are the 2 Keys to a Recovery

Pennsylvania Real Estate Investment Trust (PEI) CEO Joe Coradino on Q4 2020 Results - Earnings Call Transcript

PHILADELPHIA, March 11, 2021 /PRNewswire/ -- PREIT (NYSE: PEI) today reported results for the three months and year ended December 31, 2020.  A description of each non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is located in the tables accompanying this release.

PREIT Reports Fourth Quarter and Full Year 2020 Results

PHILADELPHIA, Feb. 25, 2021 /PRNewswire/ -- PREIT (NYSE: PEI) intends to release its financial results for the quarter ending December 31, 2020 after market trading closes on Thursday, March 11, 2021. As previously announced, and due to COVID-19, the Company has withdrawn its full-year...

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