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Last $22.42 USD
Change Today -0.19 / -0.84%
Volume 975.6K
PEI On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

penn real estate invest tst (PEI) Snapshot

Open
$22.58
Previous Close
$22.61
Day High
$22.94
Day Low
$22.24
52 Week High
01/28/15 - $25.34
52 Week Low
05/6/14 - $16.74
Market Cap
1.5B
Average Volume 10 Days
856.6K
EPS TTM
$-0.09
Shares Outstanding
69.1M
EX-Date
02/26/15
P/E TM
--
Dividend
$0.84
Dividend Yield
3.61%
Current Stock Chart for PENN REAL ESTATE INVEST TST (PEI)

penn real estate invest tst (PEI) Related Businessweek News

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penn real estate invest tst (PEI) Details

Pennsylvania Real Estate Investment Trust (PREIT) is a publicly owned equity real estate investment trust. The firm manages owns, manages, develops, acquires, and leases mall and power and strip centers primarily in the Eastern United States. It also provides management, leasing, and development services to affiliate and third party property owners. Pennsylvania Real Estate Investment Trust was founded in 1960 and is based in Philadelphia, Pennsylvania.

429 Employees
Last Reported Date: 02/23/15
Founded in 1960

penn real estate invest tst (PEI) Top Compensated Officers

Chief Executive Officer and Trustee
Total Annual Compensation: $812.0K
Executive Chairman
Total Annual Compensation: $600.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $528.8K
Executive Vice President, General Counsel and...
Total Annual Compensation: $413.9K
Compensation as of Fiscal Year 2014.

penn real estate invest tst (PEI) Key Developments

Pennsylvania Real Estate Investment Trust Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Announces Impairment of Assets for the First Quarter Ended March 31, 2015; Revised Earnings Guidance for the Year Ending Dec. 31, 2015

Pennsylvania Real Estate Investment Trust announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue of $100,057,000 against $109,388,000 a year ago. Loss before equity in income of partnerships and gain on sale of non-operating real estate was $16,063,000 against $10,757,000 a year ago. Net loss attributable to PREIT common shareholders was $17,470,000 or $0.26 basic and diluted per share against $12,065,000 or $0.18 basic and diluted per share a year ago. Net operating income was $63,593,000 against $63,866,000 a year ago. Funds from operations were $24,364,000 or $0.34 per diluted share and op unit against $26,615,000 or $0.38 per diluted share and op unit a year ago. Funds from operations as adjusted were $28,206,000 or $0.40 per diluted share and op unit against $28,002,000 or $0.40 per diluted share and op unit a year ago. Real estate revenue on same stores was $106,874,000 against $105,794,000 a year ago. The company announced impairment of assets for the first quarter ended March 31, 2015. For the quarter, the company reported impairment of assets of $6,240,000 against $1,300,000 a year ago. The company is maintaining its previous estimates of FFO and FFO as adjusted for the year ending December 31, 2015. Based on previously-announced assumptions, the company estimates FFO for the year ending December 31, 2015 will be between $1.82 and $1.87 per diluted share and FFO as adjusted per share will be between $1.87 and $1.92. The company is revising its estimate of net loss attributable to PREIT common shareholders to account for the impairment charge recorded in the first quarter of 2015 and other factors. The company is estimating net loss attributable to PREIT common shareholders will be between $0.27 and $0.32. Depreciation and amortization (includes the company's proportionate share of unconsolidated properties), net of other adjustments is expected at $2.11.

PREIT Completes Acquisition of Springfield Town Center

PREIT announced the closing of its previously-announced acquisition of Springfield Town Center in Springfield, Virginia, a newly-redeveloped 1.35 million square foot premier regional mall. In consideration for the property, PREIT delivered (net of closing credits, adjustments and expenses): $340 million in the form of cash and debt repayment and 6.25 million units of PREIT's operating partnership, valued on the closing date at $145 million. The cash portion of the purchase price was funded from borrowings under the Company's term loans and revolving credit facility. The acquisition includes the purchase of rights to develop over three million square feet of additional space, and under the deal terms, there is also a potential earn out payable in three years, subject to certain performance conditions.

Pennsylvania Real Estate Investment Trust Presents at ReitWise 2015, Apr-02-2015 09:30 AM

Pennsylvania Real Estate Investment Trust Presents at ReitWise 2015, Apr-02-2015 09:30 AM. Venue: JW Marriott Desert Ridge Resort & Spa, Phoenix, Arizona, United States. Speakers: Robert F. McCadden, Chief Financial Officer and Executive Vice President.

 

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