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Last $22.99 USD
Change Today 0.00 / 0.00%
Volume 0.0
PEI On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 03/26/15 All times are local (Market data is delayed by at least 15 minutes).

penn real estate invest tst (PEI) Snapshot

Open
$23.12
Previous Close
$23.20
Day High
$23.29
Day Low
$22.96
52 Week High
01/28/15 - $25.34
52 Week Low
04/29/14 - $16.35
Market Cap
1.6B
Average Volume 10 Days
476.2K
EPS TTM
$-0.08
Shares Outstanding
69.0M
EX-Date
02/26/15
P/E TM
--
Dividend
$0.84
Dividend Yield
3.52%
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, Member of Office of ...
Total Annual Compensation: $900.0K
Executive Chairman
Total Annual Compensation: $675.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $467.8K
Executive Vice President, General Counsel and...
Total Annual Compensation: $450.2K
Compensation as of Fiscal Year 2013.

penn real estate invest tst (PEI) Key Developments

PREIT Signs Several Key Leases

PREIT announced the signing of several key leases for new tenants at the following premier malls: Cherry Hill Mall, Cherry Hill, N.J.: lululemon athletica, Tumi, e.l.f. studio; Willow Grove Park, Willow Grove, PA: Primark (opening 2016); and Woodland Mall, Grand Rapids, MI: Garage. These new tenants complement other recent additions to these properties including: UNIQLO at Cherry Hill Mall and Willow Grove Park; Michael Kors at Willow Grove Park; Vera Bradley at Cherry Hill Mall and Willow Grove Park. Cherry Hill Mall, located eight miles from Philadelphia, serves as the dominant shopping center in densely populated southern suburban New Jersey, with a tenant mix consisting of high-end retailers and restaurants. With the additions of e.l.f studio, lululemonathletica and Tumi this year and UNIQLO and Vera Bradley late last year, Cherry Hill Mall continues its tradition of attracting new tenants to the PREIT portfolio. Garage will join Woodland Mall, a premier mall located in western Michigan that features many stores' exclusive Western Michigan presence. Garage will supplement the mall's diverse, high-end tenant mix while catering to the younger, fashion-savvy shopper.

Pennsylvania Real Estate Investment Trust Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year Ended December 31, 2015

Pennsylvania Real Estate Investment Trust reported consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenue of $111,355,000 against $119,396,000 a year ago. Net income from continuing operations was $19,030,000 against $7,423,000 a year ago. Net income attributable to the company common shareholders was $14,496,000 against $3,588,000 a year ago. Net income per basic and diluted was $0.21 against $0.05 a year ago. Net operating income was $77,660,000 against $78,511,000 a year ago. Funds from operations were $41,984,000 against $41,714,000 a year ago. Funds from operations as adjusted were $43,316,000 against $41,714,000 a year ago. Funds from operations per diluted share and op unit were $0.59 against $0.59 a year ago. Funds from operations per diluted share and op unit as adjusted were $0.61 against $0.59 a year ago. Same Store NOI was $75.4 million, a $4.1 million or 5.8% increase over the same period last year. For the year, the company reported total revenue of $432,703,000 against $438,678,000 a year ago. Net loss from continuing operations was $14,262,000 against $20,449,000 a year ago. Net loss attributable to the company common shareholders was $29,678,000 against net income attributable to the company common shareholders of $20,011,000 a year ago. Net loss per basic and diluted was $0.44 against net income per basic and diluted earnings per share of $0.31 a year ago. Net operating income was $277,858,000 against $283,410,000 a year ago. Funds from operations were $129,419,000 against $121,101,000 a year ago. Funds from operations as adjusted were $139,582,000 against $127,900,000 a year ago. Funds from operations per diluted share and op unit were $1.82 against $1.81 a year ago. Funds from operations per diluted share and op unit as adjusted were $1.96 against $1.92 a year ago. The company estimates FFO for the year ended 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. Total NOI is expected to be $284.2 million. Net income attributable to the company common shareholders is expected to be $0.14. Same Store NOI excluding lease termination revenues were approximately $258 million in 2014. The company expects Same Store NOI growth of 1.7% to 2.7% excluding lease termination fees. The company expects recurring capital expenditures in the range of $45 million to $50 million and anticipates redevelopment and development capital expenditures in the range of $80 million to $110 million.

Pennsylvania Real Estate Investment Trust Quarterly Cash Dividend for Common Shares and for Preferred Shares, Payable on March 16, 2015

Pennsylvania Real Estate Investment Trust announced that its Board of Trustees has declared a quarterly cash dividend of $0.21 per common share, an increase of 5% over the prior dividend paid. The dividend is payable on March 16, 2015 to common shareholders of record on March 2, 2015. The company also announced that its Board of Trustees has declared quarterly cash dividends of $0.515625 per share on its 8.25% Series A Cumulative Redeemable Perpetual Preferred Shares and $0.460938 per share on its 7.375% Series B Cumulative Redeemable Perpetual Preferred Shares. These dividends are payable on March 16, 2015 to holders of record on March 2, 2015.

 

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