Key Developments: Pennsylvania Real Estate Investment Trust (PEI)

PEI on New York Consolidated

22.67USD
19 Dec 2014
Price Change (% chg)

$-0.05 (-0.22%)
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Latest Key Developments (Source: Significant Developments)

Pennsylvania Real Estate Investment Trust completes sale of Whitehall Mall
Monday, 1 Dec 2014 04:31pm EST 

Pennsylvania Real Estate Investment Trust:Completes sale of several properties including its 50 pct interest in Whitehall Mall in Allentown, PA, with an aggregate transaction value of $25.0 mln.  Full Article

Pennsylvania Real Estate Investment Trust declares quarterly dividend for common and preferred shares
Friday, 21 Nov 2014 04:15pm EST 

Pennsylvania Real Estate Investment Trust:Declares a quarterly cash dividend of $0.20 per common share.Payable on Dec. 15, 2014 to common shareholders of record on Dec. 1, 2014.Declares quarterly cash dividends of $0.515625 per share on its 8.25 pct Series A Cumulative Redeemable Perpetual Preferred Shares and $0.460938 per share on its 7.375 pct Series B Cumulative Redeemable Perpetual Preferred Shares.Payable on Dec. 15 to holders of record on Dec. 1.  Full Article

Pennsylvania Real Estate Investment Trust lowers FY 2014 outlook
Tuesday, 28 Oct 2014 04:30pm EDT 

Pennsylvania Real Estate Investment Trust:Revised FY 2014 FFO per share to between $1.81 and $1.84 and its FFO as adjusted per share to between $1.94 and $1.97.FY 2014 FFO of $1.91- Thomson Reuters I/B/E/S.  Full Article

Pennsylvania Real Estate Investment Trust enters into agreement to sell non-core parcel
Friday, 3 Oct 2014 08:00am EDT 

Pennsylvania Real Estate Investment Trust:Announces that it has entered into an agreement to sell the remaining parcel owned by the company at Plaza at Magnolia, a center originally developed by PREIT adjacent to its Magnolia Mall in Florence, SC.Says the transaction is expected to close during the fourth quarter of 2014.Says the parcel being sold contains a Firehouse Subs eatery and an AT&T store.  Full Article

Pennsylvania Real Estate Investment Trust completes sale of Nittany and North Hanover Malls
Monday, 8 Sep 2014 04:58pm EDT 

Pennsylvania Real Estate Investment Trust:Announces that the completion of the sale of Nittany and North Hanover Malls for $32.3 million in the aggregate.Nittany Mall is a 534,000 square foot mall located in State College, PA, with sales of $243 per square foot and non-anchor occupancy of 70.0 pct as of June 30, 2014.North Hanover Mall is a 452,000 square foot mall located in Hanover, PA, with sales of $275 per square foot and non-anchor occupancy of 72.8 pct as of June 30, 2014.  Full Article

Pennsylvania Real Estate Investment Trust enters into agreement to sell non-core Anchor Pad
Tuesday, 19 Aug 2014 08:00am EDT 

Pennsylvania Real Estate Investment Trust:Entered into an agreement to sell an anchor pad underlying a Bon-Ton store in Bethlehem, PA contiguous to Westgate Mall.Transaction is expected to close prior to the end of 2014.  Full Article

Pennsylvania Real Estate Investment Trust and Macerich Co form joint venture to redevelop the gallery in Philadelphia
Tuesday, 29 Jul 2014 04:50pm EDT 

Pennsylvania Real Estate Investment Trust:Says the company and Macerich Co announced a joint venture partnership to redevelop The Gallery in downtown Philadelphia.Through this partnership, PREIT will capitalize on Macerich's expertise in developing and leasing vertical, multi-use projects in dense, urban environments and Macerich will benefit from PREIT's Philadelphia-area relationships and retail dominance.Under the terms of the agreement, Macerich will acquire a 50 pct common ownership interest in The Gallery for $106.8 million.Macerich and PREIT will jointly handle the development, leasing and management of The Gallery.Costs related to the future development will be split 50/50 between the companies.  Full Article

Pennsylvania Real Estate Investment Trust lowers FY 2014 FFO outlook
Tuesday, 29 Jul 2014 04:48pm EDT 

Pennsylvania Real Estate Investment Trust:Revised FY 2014 FFO per share to between $1.86 and $1.89 and its FFO as adjusted per share to between $1.98 and $2.01.FY 2014 FFO of $1.98 - Thomson Reuters I/B/E/S.  Full Article

Pennsylvania Real Estate Investment Trust declares quarterly dividend for common and preferred shares
Friday, 18 Jul 2014 04:30pm EDT 

Pennsylvania Real Estate Investment Trust:Declared quarterly cash dividend of $0.20 per common share.Dividend is payable on Sept. 16 to common shareholders of record on Sept. 2.Says it also announced that it has declared quarterly cash dividends of $0.515625 per share on its 8.25pct Series A Cumulative Redeemable Perpetual Preferred Shares and $0.460938 per share on its 7.375pct Series B Cumulative Redeemable Perpetual Preferred Shares.Dividends are payable on Sept. 16 to holders of record on Sept. 2.  Full Article

Pennsylvania Real Estate Invest. Trust lowers FY 2014 FFO guidance
Wednesday, 23 Apr 2014 04:30pm EDT 

Pennsylvania Real Estate Invest. Trust:Revises estimates of FFO per share FY 2014 to between $1.92 and $1.96, and its estimates of FFO as adjusted per share to between $2.00 and $2.04.Expects net income (loss) attributable to PREIT common shareholders in the range of $(0.20) to $(0.14).FY 2014 FFO per share of $2.02 - Thomson Reuters I/B/E/S.  Full Article

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