Key Developments: Pennsylvania Real Estate Investment Trust (PEI.N)

PEI.N on New York Stock Exchange

18.97USD
25 Jul 2014
Price Change (% chg)

$-0.13 (-0.68%)
Prev Close
$19.10
Open
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$19.17
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$18.96
Volume
108,190
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195,461
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$21.69
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$16.35

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Latest Key Developments (Source: Significant Developments)

Pennsylvania Real Estate Investment Trust Declares Quarterly Dividend For Common Shares And Preferred Shares
Thursday, 16 May 2013 04:05pm EDT 

Pennsylvania Real Estate Investment Trust announced that its Board of Trustees has declared a quarterly cash dividend of $0.18 per common share. The dividend is payable on June 17, 2013 to common shareholders of record on May 31, 2013. 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 June 17, 2013 to holders of record on May 31, 2013.  Full Article

Pennsylvania Real Estate Investment Trust Lowers FY 2013 FFO Guidance
Monday, 6 May 2013 05:11pm EDT 

Pennsylvania Real Estate Investment Trust announced that it has revised FFO as adjusted and net income per diluted share to give effect to the recently completed public offering of 11.5 million common shares and the use of proceeds to repay amounts outstanding of $192.5 million under its 2013 Revolving Facility and the balance of $27.8 million for general corporate purposes and expects FFO as adjusted to be $1.83 to $1.91 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $1.96 for fiscal 2013.  Full Article

Pennsylvania Real Estate Investment Trust Closes Common Share Offering
Monday, 6 May 2013 11:20am EDT 

Pennsylvania Real Estate Investment Trust announced that it has closed the previously announced underwritten public offering of 11,500,000 of its common shares of beneficial interest, including the fully exercised option granted to the underwriters to purchase an additional 1,500,000 common shares, at $20.00 per share. The joint book-running managers for this offering were Wells Fargo Securities, BofA Merrill Lynch, Citigroup and J.P. Morgan. The offering generated net proceeds to the Company of approximately $220.3 million, after deducting the underwriting discount and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from this offering to repay amounts outstanding under the Company's 2013 Revolving Facility and for other general corporate purposes.  Full Article

Pennsylvania Real Estate Investment Trust Prices Common Share Offering
Wednesday, 1 May 2013 09:35am EDT 

Pennsylvania Real Estate Investment Trust announced that it has priced an underwritten public offering of 10,000,000 of its common shares of beneficial interest at $20.00 per share. The joint book-running managers for this offering are Wells Fargo Securities, BofA Merrill Lynch, Citigroup and J.P. Morgan. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,500,000common shares. The Company estimates that the net proceeds from this offering, after the underwriting discount and estimated offering expenses payable by the Company, will be approximately $191,500,000 or approximately $220,300,000 if the underwriters` option to purchase additional shares is exercised in full. The offering is expected to close on May 6, 2013. The Company intends to use the net proceeds from this offering to repay amounts outstanding under the Company`s 2013 Revolving Facility and for other general corporate purposes.  Full Article

Pennsylvania Real Estate Investment Trust Announces Launch of Common Share Offering
Tuesday, 30 Apr 2013 04:28pm EDT 

Pennsylvania Real Estate Investment Trust announced that it has commenced an underwritten public offering of 10,000,000 common shares of beneficial interest. The joint book-running managers for this offering are Wells Fargo Securities, BofA Merrill Lynch, Citigroup and J.P. Morgan. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 common shares. The Company intends to use the net proceeds from this offering to repay amounts outstanding under the Company`s 2013 Revolving Facility and for other general corporate purposes.  Full Article

Pennsylvania Real Estate Investment Trust Raises FY 2013 FFO Guidance
Monday, 22 Apr 2013 04:45pm EDT 

Pennsylvania Real Estate Investment Trust announced that it has revised its estimates of net loss per diluted share and FFO per diluted share for fiscal 2013 and expects FFO as adjusted to be $2.00 to $2.08 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $1.95 for fiscal 2013.  Full Article

Pennsylvania Real Estate Investment Trust Issues FY 2013 FFO Guidance In Line With Analysts' Estimates
Monday, 25 Feb 2013 08:03pm EST 

Pennsylvania Real Estate Investment Trust announced that for fiscal 2013, it expects net loss per diluted share (EPS) ranges from a loss of $0.51 to $0.44 per share and FFO as adjusted to be $1.95 to $2.05 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $1.85 for fiscal 2013.  Full Article

Pennsylvania Real Estate Investment Trust Increases Quarterly Dividend 12.5% For Common Shares And Declares Dividends For Preferred Shares
Thursday, 21 Feb 2013 04:05pm EST 

Pennsylvania Real Estate Investment Trust announced that its Board of Trustees has declared a quarterly cash dividend of $0.18 per common share, which represents a 12.5% increase over the prior dividend amount. The dividend is payable on March 15, 2013 to common shareholders of record on March 4, 2013. The March 15th dividend payment will be the Company's 144th consecutive distribution since its initial dividend paid in August of 1962. 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 15, 2013 to holders of record on March 4, 2013.  Full Article

Pennsylvania Real Estate Investment Trust Sells Orlando Fashion Square Mall
Tuesday, 12 Feb 2013 05:46pm EST 

Pennsylvania Real Estate Investment Trust announced that it has sold Orlando Fashion Square Mall in Orlando, Florida for $35.0 million in cash, resulting in a gain of approximately $0.6 million to be recognized in the first quarter of 2013.  Full Article

Pennsylvania Real Estate Investment Trust Closes On Sale Of Paxton Towne Centre
Monday, 14 Jan 2013 10:54am EST 

Pennsylvania Real Estate Investment Trust announced that it has completed the previously announced sale of Paxton Towne Centre, a power center in Harrisburg, Pennsylvania, for $76.8 million, representing a gain on sale of approximately $33.6 million. The sale marks another key step in PREIT executing its business plan.  Full Article

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