Last $20.24 USD
Change Today 0.00 / 0.00%
Volume 182.4K
PEI On Other Exchanges
Symbol
Exchange
Frankfurt
As of 8:04 PM 08/27/14 All times are local (Market data is delayed by at least 15 minutes).

penn real estate invest tst (PEI) Snapshot

Open
$20.26
Previous Close
$20.24
Day High
$20.28
Day Low
$20.05
52 Week High
08/19/14 - $20.40
52 Week Low
04/29/14 - $16.35
Market Cap
1.4B
Average Volume 10 Days
331.0K
EPS TTM
$-0.31
Shares Outstanding
68.8M
EX-Date
08/28/14
P/E TM
--
Dividend
$0.80
Dividend Yield
3.85%
Current Stock Chart for PENN REAL ESTATE INVEST TST (PEI)

penn real estate invest tst (PEI) Related Bloomberg News

View More Bloomberg News

penn real estate invest tst (PEI) Related Businessweek News

No Related Businessweek News Found

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.

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

Pennsylvania Real Estate Investment Trust Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Year Ending December 31, 2014; Records Impairment of Assets for the Second Quarter Ended June 30, 2014

Pennsylvania Real Estate Investment Trust reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenue of $106,825,000 against $104,943,000 a year ago. Loss from continuing operations was $24,050,000 against $10,009,000 a year ago. Net loss attributable to common shareholders was $27,287,000 or $0.40 basic and diluted per share against $12,657,000 or $0.20 basic and diluted per share a year ago. Net operating income was $61,781,000 against $59,929,000 a year ago. Net operating income decreased $2.0 million as a result of properties that were sold in 2013. Total real estate revenue was $106,145,000 against $103,548,000 a year ago. Net loss attributable to PREIT was $23,325,000 against $8,695,000 a year ago. Funds from operations were $21,969,000 against $18,511,000 a year ago. Total funds from operations were $26,477,000 against $23,967,000 a year ago. Adjusted funds from operations were $33,146,000 against $28,260,000 a year ago. Funds from operations per diluted share and op unit were $0.37 against $0.36 a year ago. Adjusted funds from operations per diluted share and op unit were $0.47 against $0.42 a year ago. For six months, the company reported total revenue of $216,212,000 against $209,009,000 a year ago. Loss from continuing operations was $32,406,000 against $18,477,000 a year ago. Net loss attributable to common shareholders was $39,353,000 or $0.58 basic and diluted per share against net income attributable to common shareholders of $8,183,000 or $0.13 basic and diluted per share a year ago. FFO was $53.1 million or $0.75 per share against $48.1 million or $0.77 per share a year ago. FFO, as adjusted was $61.1 million or $0.87 per share against $54.2 million or $0.86 per share a year ago. Net operating income was $132.9 million against $137.3 million a year ago. Total real estate revenue was $214,754,000 against $206,726,000 a year ago. Net loss attributable to PREIT was $31,429,000 against income of $16,107,000 a year ago. Net operating income was $118,673,000 against $119,412,000 a year ago. Funds from operations were $44,340,000 against $37,020,000 a year ago. The company recorded impairment of assets of $16,098,000 for the second quarter ended June 30, 2014. The company has revised its estimates of FFO per share for the year ending December 31, 2014 to between $1.86 and $1.89, and its estimates of FFO as adjusted per share to between $1.98 and $2.01. The company expects net loss attributable to PREIT common shareholders was $0.50 per share against $0.43 per share a year ago. The company expects same store net operating income growth in the range of 2.0% to 2.4%, excluding lease termination revenue. Depreciation and amortization (includes the company’s proportionate share of unconsolidated properties), net of other adjustments to between $2.23 against $2.19.

Pennsylvania Real Estate Investment Trust and Macerich Company Form Joint Venture to Redevelop The Gallery in Philadelphia

Pennsylvania Real Estate Investment Trust and Macerich Company announced a joint venture partnership to redevelop The Gallery in downtown Philadelphia. Through this partnership, PREIT will capitalize on Macerich's extensive 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% 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. The Gallery, approximately 1,400,000 square feet is located in the heart of Philadelphia, strategically positioned where mass transit, tourism, the residential population and employment base converge. The joint venture redevelopment is expected to build upon the offerings of the previously announced Century 21 anchor transaction and realize PREIT's vision to create Philadelphia's only transit-oriented, retail anchored multi-use property offering accessible luxury retailing and artisan food experiences.

Pennsylvania Real Estate Investment Trust Declares Quarterly Cash Dividends on Common Shares and Preferred Shares, Payable on September 16, 2014

Pennsylvania Real Estate Investment Trust announced that its Board of Trustees has declared a quarterly cash dividend of $0.20 per common share. The dividend is payable on September 16, 2014 to common shareholders of record on September 2, 2014. 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 September 16, 2014 to holders of record on September 2, 2014.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
PEI:US $20.24 USD 0.00

PEI Competitors

Market data is delayed at least 15 minutes.

Company Last Change
No competitor information is available for PEI.
View Industry Companies
 

Industry Analysis

PEI

Industry Average

Valuation PEI Industry Range
No financial data is available for PEI.
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact PENN REAL ESTATE INVEST TST, please visit www.preit.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.