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.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

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 , Feb. 7, 2024 /PRNewswire/ --  PREIT (OTC:PRET) today announced the execution of a lease with Primark at Mall at Prince George's in Hyattsville, MD. The retailer will take 30,000 square feet and plans to open in 2025.

PREIT Looks Forward to Welcoming Coveted Brand Primark to Mall at Prince George's

American Tower

JPMorgan BetaBuilders MSCI US REIT ETF

Principal Real Estate Active Opportunities ETF

CorEnergy Infrastructure Trust

Dimensional US Real Estate ETF

Dimensional Global Real Estate ETF

Diversified Healthcare Trust

iShares Environmentally Aware Real Estate ETF

Empire State Realty Trust

Fidelity MSCI Real Estate ETF

First Trust S&P REIT Index Fund

Goldman Sachs Future Real Estate And Infrastructure Equity ETF

Home Appreciation US REIT ETF

iShares Cohen & Steers REIT ETF

Pacer Benchmark Industrial Real Estate SCTR ETF

iShares U.S. Real Estate ETF

JPMorgan Realty Income ETF

Janus Henderson U.S. Real Estate ETF

Invesco KBW Premium Yield Equity REIT ETF

Kimco Realty

NETLease Corporate Real Estate ETF

Nuveen Short-Term REIT ETF

US Diversified Real Estate ETF

Invesco Active US Real Estate

The REIT sector closed the year out strong with a +11.40% total return in December, pushing into positive territory for the full year (+8.66%). Small cap REITs (+13.39%) outperformed in December. Large cap REITs (+9.55%) averaged a lower return than their smaller peers. 90.79% of REIT securities had a positive total return in December with 66.25% in the black for the full year.

The State Of REITs: January 2024 Edition

CBL & Associates Properties

Four Corners Property Trust

Host Hotels & Resorts

JBG SMITH Properties

National Storage Affiliates Trust

Regency Centers

Simon Property Group

Presidio Property Trust

Strawberry Fields REIT Ltd

Vanguard Real Estate ETF

Wheeler Real Estate Investment Trust

The REIT sector averaged a +9.50% total return in November, but remains in negative territory year to date (-2.27%). Large cap REITs (+11.54%) outperformed again in November. Micro caps (+3.30%) finally had a month in the black, but continue to badly underperform their larger peers. 90.2% of REIT securities had a positive total return in November, but only 42.5% are in the black year to date.

The State Of REITs: December 2023 Edition

Focus on Delivering Exceptional Experiences for Shoppers and Tenants Continues Enters Restructuring Support Agreement with 100% of PREIT's First and Second Lien Lenders and Commences Chapter 11 Proceedings to Implement Prepackaged Plan PHILADELPHIA , Dec. 11, 2023 /PRNewswire/ -- PREIT (OTCQB: PRET), a leading operator of diverse retail and experiential destinations, today announced it is taking steps to execute a comprehensive reorganization to strengthen its balance sheet, reduce its total indebtedness by approximately $880 million and extend its maturity runway.  The reorganization plan (the "Prepackaged Plan") is supported by 100% of PREIT's First and Second Lien Lenders.

PREIT Takes Steps to Significantly Strengthen Balance Sheet and Solidify Future of Business

Equinix

Extra Space Storage

NexPoint Residential Trust

Office Properties Income Trust

REITs averaged a -5.31% total return in October and have now fallen to a double-digit negative total return year to date (-10.46%). Large cap REITs (-2.24%) outperformed their smaller peers in October. Micro caps (-11.32%) extended their streak of severe underperformance. 26.80% of REIT securities had a positive total return in October with just 25.00% in the black year to date.

The State Of REITs: November 2023 Edition

Core Mall Total Occupancy 93.6%, Portfolio 94.8% Leased Average Renewal Spreads Were 8.5% for the Quarter Ended September 30, 2023 PHILADELPHIA , Nov. 14, 2023 /PRNewswire/ -- PREIT (OTCQB:PRET) today reported results for the three and nine months ended September 30, 2023. 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 Third Quarter 2023 Results

PHILADELPHIA--(BUSINESS WIRE)--PREIT shareholders John Saunders and David Steinberg are members of an ad hoc group of shareholders who have sent a letter to PREIT's Board of Trustees asserting that the Board's decision to ignore the results of the recent election to entrench themselves was a flagrant violation of their fiduciary duties. There is now a vacancy on the Board that must be filled. The group demands that the vacancy be filled by a nominee of the group instead of someone chosen by the.

Shareholders of Pennsylvania Real Estate Investment Trust Issue Open Letter to Board of Trustees

PHILADELPHIA , Aug. 14, 2023 /PRNewswire/ -- PREIT (OTCQB: PRET) welcomed several new and diverse tenants across its portfolio. For over a decade, PREIT has focused on going beyond traditional mall tenancy to include leisure and entertainment options, traditional open air tenants, grocers, healthcare and more.

Over a Dozen Diverse and Impactful Tenants in 575,000 Square Feet Opening Throughout PREIT Portfolio, Strengthening Core Assets

Core Mall Total Occupancy Grew to 94.2%, Portfolio 95.0% Leased Core Mall Sales Per Square Foot Were $592 in June Average Renewal Spreads Were 4.7% for the Quarter Ended June 30, 2023 PHILADELPHIA , Aug. 3, 2023 /PRNewswire/ -- PREIT (OTCQB:PRET) today reported results for the three and six months ended June 30, 2023. 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 Second Quarter 2023 Results

PHILADELPHIA , July 31, 2023 /PRNewswire/ -- PREIT (OTCQB:PRET) intends to release its financial results for the quarter ending June 30, 2023 before market trading begins on Thursday, August 3, 2023.  Management has scheduled a conference call for 11:00 a.m.

PREIT Schedules Second Quarter 2023 Earnings Release and Conference Call

PHILADELPHIA , July 12, 2023 /PRNewswire/ -- PREIT (OTCQB: PRET) today issued a statement and letter in response to the July 11, 2023 letter from John R. Saunders. Statement from PREIT: PREIT remains focused on advancing the goals of the Company and its various stakeholders.

PREIT Board of Trustees Issues Response to Letter from John R. Saunders

PHILADELPHIA , July 7, 2023 /PRNewswire/ -- PREIT (OTCQB: PRET) today issued a statement and letter in response to the July 6, 2023 letter from David Steinberg, Scott Bishins and Michael Mayer. Statement from PREIT: PREIT welcomes and values the opinions of all shareholders and is open to any input that may help advance the goals of the Company and its various stakeholders.

PREIT Board of Trustees Issues Response to Letter from "Concerned Shareholders"

PHILADELPHIA--(BUSINESS WIRE)--David Steinberg, Scott Bishins, and Michael Meyer ("Concerned Shareholders" or "we"), collectively substantial holders of the outstanding common shares of beneficial interest and cumulative redeemable preferred shares of beneficial interest, in Pennsylvania Real Estate Investment Trust (“PREIT”) (OTCMKTS: PRET), today sent a letter to the Board of Trustees of PREIT (“the Board”) urging they to respect shareholders' desire for change as expressed at the Annual Meet.

Concerned PREIT Shareholders Urge Failing Trustees to Resign

Opening of Region's Newest Eddie V's Shines Spotlight on Continued Strong Demand PHILADELPHIA , June 29, 2023 /PRNewswire/ -- Cherry Hill Mall, a PREIT (OTCQB: PRET) shopping center, continues to attract top-tier tenants and shoppers.  Earlier this month, the property welcomed Eddie V's, a prime quality seafood restaurant, offering a fine dining experience.

PREIT's Crown Jewel, Cherry Hill Mall, Continues to Attract Best-in-Class Tenants

Ashford Hospitality Trust

Americold Realty

Equity Commonwealth

InnSuites Hospitality Trust

Macerich

Prologis

Terreno Realty

The REIT sector declined for the 4th consecutive month with a -2.50% total return in May. Small cap REITs (-1.02%) outperformed in May by averaging the most modest negative total returns. Large caps (-4.64%) underperformed their smaller REIT peers. Only 30.38% of REIT securities had a positive total return in May with only 36.65% in the black year to date.

The State Of REITs: June 2023 Edition

PHILADELPHIA , June 15, 2023 /PRNewswire/ -- PREIT (OTCQB: PRET) today issued a statement and letter in response to the June 15, 2023 Open Letter to Shareholders issued by Trustees, Christopher Swann and Kenneth Hart.  Statement from PREIT: PREIT welcomes and values the opinions of all shareholders and its Trustees alike and is open to any input that may help advance the goals of the Company and its various stakeholders.

PREIT Board of Trustees Issues Response to Open Letter to Shareholders Issued by Two Independent Trustees

Core Mall Total Occupancy Grew to 93.5% Core Mall Non-Anchor Occupancy Increased 150 Basis Points to 90.1% Core Mall Sales Per Square Foot Were $603 in March, Growing 1.2% Over December 2022 Average Renewal Spreads Were 5.6% for the Quarter Ended March 31, 2023 Mortgage Loan on Cherry Hill Mall Extended PHILADELPHIA , May 4, 2023 /PRNewswire/ -- PREIT (OTCQB:PRET) today reported results for the three months ended March 31, 2023. 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 2023 Results

PHILADELPHIA , May 3, 2023 /PRNewswire/ -- PREIT (OTCQB: PRET) is proud to announce it has signed a lease with ULTA for 7,500 square feet at Dartmouth Mall. As part of the company's strategy to redefine shopping experiences and diversify their portfolio, this exciting addition will bring a new level of beauty expertise to Southeast Massachusetts.

ULTA to Join PREIT's Dartmouth Mall, a Premier Destination for Shoppers

PHILADELPHIA , April 26, 2023 /PRNewswire/ -- PREIT (OTC:PRET) intends to release its financial results for the quarter ending March 31, 2023 before market trading begins on Thursday, May 4, 2023.  Management has scheduled a conference call for 11:00 a.m.

PREIT Schedules First Quarter 2023 Earnings Release and Conference Call

Core Mall Total Occupancy Grew to 94.8% Core Mall Non-Anchor Occupancy Increased 240 Basis Points to 92.1% Core Mall Sales Per Square Foot Were $606 in January, Growing 1.7% Over December 2022 Average Renewal Spreads Were 1.1% for the Year Ended December 31, 2022 PHILADELPHIA , March 22, 2023 /PRNewswire/ -- PREIT (OTC:PRET) today reported results for the three months and year ended December 31, 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.

PREIT Reports Fourth Quarter and Full Year 2022 Results

PHILADELPHIA , March 13, 2023 /PRNewswire/ -- PREIT (OTC: PRET), 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 fourth quarter earnings call on Wednesday, March 22, 2023 at 11:00 am ET. PREIT believes in the value of transparency with stakeholders.

PREIT Opens Q&A Platform for Shareholders Ahead of Fourth Quarter 2022 Earnings Call

PHILADELPHIA , March 2, 2023 /PRNewswire/ -- PREIT (OTC:PRET) intends to release its financial results for the quarter and year ending December 31, 2022 before market trading begins on Wednesday, March 22, 2023.  Management has scheduled a conference call for 11:00 a.m.

PREIT Schedules Fourth Quarter 2022 Earnings Release and Conference Call

Sale of Parcel Part of Multi-Faceted Strategy to Harvest Value PHILADELPHIA , February 13, 2023 /PRNewswire/ --  PREIT, today, announced the sale of its Whole Foods parcel at Plymouth Meeting Mall for $27 million as part of its capital raising initiative. The proceeds from the transaction will be used to reduce debt and improve PREIT's balance sheet.

PREIT Sells Whole Foods Parcel for $27 Million

Braemar Hotels & Resorts Inc

Direxion Daily Real Estate Bull 3x Shares

Direxion Daily Real Estate Bear 3x Shares

Gaming and Leisure Properties

InfraCap REIT Preferred ETF

Power REIT

SPDR Dow Jones REIT ETF

Global X SuperDividend REIT ETF

iShares Core U.S. REIT ETF

Vici Properties

The REIT sector ended a brutal 2022 on a low note, with a -7.72% total return in December. Large cap (-4.89%), mid cap (-6.03%) and small cap (-8.21%) REITs all averaged single-digit declines December, but micro caps (-15.21%) fell much more sharply.

The State Of REITs: January 2023 Edition

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.

PREIT Announces Burlington as One of Many New Additions Joining Springfield Town Center

News for Pennsylvania Real Estate Investment Trust Stock (PRET)