PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in the densely-populated eastern U.S. with concentrations in the mid-Atlantic's top MSAs. Since 2012, the Company has driven a transformation guided by an emphasis on portfolio quality and balance sheet strength driven by disciplined capital expenditures.
IPO Year:
Exchange: NYSE
Website: preit.com
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75,000 Square Feet of Retail and Entertainment Space Set to Open in 2023 Occupancy to Reach Record 95.5% Upon Opening of LEGO Discovery Center and Burlington Approvals Recently Obtained for 460 Apartments and 165 Room Hotel PHILADELPHIA, Jan. 5, 2023 /PRNewswire/ -- PREIT , today, announced that it has signed a lease with Burlington Stores for a new 30,000 square foot store at Springfield Town Center in Fairfax County, VA, expected to open in 2023. It will join the new LEGO ® Discovery Center and several other new additions including Lovisa, BoxLunch, Daily Thread and Carters among others. The opening of these new tenants will drive occupancy at Springfield Town Center to a record 95.5%
Trust has Applied to OTCQX® PHILADELPHIA, Dec. 15, 2022 /PRNewswire/ -- PREIT announced today that it intends to transfer the trading of its shares to the OTC Markets, operated by the OTC Markets Group, Inc., under the symbols PRET, PRETL, PRETM, and PRETN, where PREIT has applied to be traded on the OTCQX®. The transition to the over-the-counter market will not affect the Company's business operations and PREIT will continue to create the compelling experiences our shoppers and tenants seek, adding new tenants and experiences to its properties. The Company remains focused on improving its balance sheet, having recently extended its Credit Facilities and obtained approvals for multi-family
Attractive Properties Build on Momentum of 2021 Record New Leasing and nearly 5% YOY Occupancy Growth PHILADELPHIA, Dec. 14, 2022 /PRNewswire/ -- PREIT (NYSE:PEI), today announced execution of leases with new tenants throughout its portfolio, highlighting the compelling nature of its footprint to expanding retailers. www.preit.com or on Twitter or LinkedIn. (PRNewsFoto/PREIT) (PRNewsFoto/)" alt="PREIT has a primary focus on the ownership and management of differentiated retail shopping malls crafted to fit the dynamic communities they serve. The Company operates properties in 12 states in the eastern U.S. with concentration
PHILADELPHIA, Dec. 13, 2022 /PRNewswire/ -- PREIT (NYSE:PEI), today, announced that it has obtained unanimous approval from the Fairfax County Board of Supervisors for the development of 460 apartments and a 165-room hotel, paving the way for the sale of the land parcels both of which are under agreement of sale. A key part of PREIT's capital plan, the sale of these parcels is expected to generate approximately $20 million for PREIT, in addition to the $112 million in proceeds the Company has raised from asset sales in 2022. The Company expects to close on these sales at Springfield Town Center in Q2 2023 and has another $120 million of asset sales in the pipeline.
Asset Values Documented in Connection with Credit Facilities Extension Acknowledge Substantial Portfolio Transformation PHILADELPHIA, Dec. 8, 2022 /PRNewswire/ -- PREIT (NYSE:PEI), today, announced meaningful balance sheet improvements through successfully extending its Credit Facilities. www.preit.com or on Twitter or LinkedIn. (PRNewsFoto/PREIT) (PRNewsFoto/)" alt="PREIT has a primary focus on the ownership and management of differentiated retail shopping malls crafted to fit the dynamic communities they serve. The Company operates properties in 12 states in the eastern U.S. with concentration in the Mid-Atlantic and Great
Core Mall Total Occupancy Increased 480 Basis Points to 94.4% Core Mall Sales Per Square Foot Were $592 in September, up 10.4% compared to 2019 Average Renewal Spreads were 8.7% for the Quarter Ended September 30 PHILADELPHIA, Nov. 8, 2022 /PRNewswire/ -- PREIT (NYSE:PEI) today reported results for the three and nine months ended September 30, 2022. 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. www.preit.com or on Twitter or LinkedIn. (PRNewsFoto/PREIT) (PRNewsFoto/)" alt="PREIT has a primary focus
Over $110 million raised through asset sale program $148 million from asset sales and excess cash used to repay debt PHILADELPHIA, Nov. 2, 2022 /PRNewswire/ -- PREIT (NYSE:PEI), today, marked meaningful balance sheet improvements. The Company is underway with a robust capital raising effort, seeking to improve its balance sheet and mitigate the impact of interest expenses to drive earnings. As a result of completed asset sales, the Company has applied proceeds and excess cash from operations to pay down debt by $148 million through October 31, 2022. www.preit.com or on Twitter or LinkedIn. (PRNewsFoto/PREIT) (PRNewsFoto/)"
PHILADELPHIA, Oct. 31, 2022 /PRNewswire/ -- PREIT (NYSE:PEI), a leading real estate investment trust focused on creating thoughtful, community-centric properties, today announced the opening of its shareholder Q&A platform for its upcoming third quarter earnings call on Tuesday, November 8, 2022 at 11:00 am EDT. www.preit.com or on Twitter or LinkedIn. (PRNewsFoto/PREIT) (PRNewsFoto/)" alt="PREIT has a primary focus on the ownership and management of differentiated retail shopping malls crafted to fit the dynamic communities they serve. The Company operates properties in 12 states in the eastern U.S. with concentration in th
370,000 Square Feet of Tenants Opened 420,000 Square Feet of New Leases Signed in 2022 PHILADELPHIA, Oct. 12, 2022 /PRNewswire/ -- PREIT (NYSE:PEI), today, highlighted continued momentum in store openings and occupancy across its portfolio. As of June 30, 2022, PREIT increased total core mall occupancy by 480 basis points to 93.8% and 420,000 square feet of new leases were executed through the third quarter of 2022. New tenants will continue to open throughout this year and next, enhancing the value of the Company's portfolio. www.preit.com or on Twitter or LinkedIn. (PRNewsFoto/PREIT) (PRNewsFoto/)" alt="PREIT has a primar
PHILADELPHIA, Oct. 11, 2022 /PRNewswire/ -- PREIT (NYSE:PEI) intends to release its financial results for the quarter ending September 30, 2022 before market trading begins on Tuesday, November 8, 2022. www.preit.com or on Twitter or LinkedIn. (PRNewsFoto/PREIT) (PRNewsFoto/)" alt="PREIT has a primary focus on the ownership and management of differentiated retail shopping malls crafted to fit the dynamic communities they serve. The Company operates properties in 12 states in the eastern U.S. with concentration in the Mid-Atlantic and Greater Philadelphia region. The Company is headquartered in Philadelphia, Pennsylvania. Mo
8-K - PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (0000077281) (Filer)
8-K - PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (0000077281) (Filer)
8-K - PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (0000077281) (Filer)
8-K - PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (0000077281) (Filer)
8-K - PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (0000077281) (Filer)
8-K - PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (0000077281) (Filer)
10-Q - PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (0000077281) (Filer)
8-K - PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (0000077281) (Filer)
8-K - PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (0000077281) (Filer)
8-K - PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (0000077281) (Filer)