Pennsylvania Real Estate Investment Trust
PEI-PB
New York Stock Exchange3.40
USD
- -
- -
CIK
0000077281
ISIN
US7091025038
CUSIP
709102503
Return %
Stock
S&P500
1Y
-28.42
26.84
3Y
-82.09
77.03
5Y
-85.34
80.55
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Full Time Employees
- 158
- Sector
- Real Estate
- Industry
- REIT - Retail
- Address
- One Commerce Square Philadelphia PA United States of America 19103
- IPO Date
- Feb 28, 2013
- CIK
- 0000077281
- Website
- preit.com
- Similar Companies
- Business
- Pennsylvania Real Estate Investment Trust (PREIT), founded in 1960 and headquartered in Philadelphia, Pennsylvania, operates as a self-administered real estate investment trust focused on the ownership, management, redevelopment, and operation of community-centric retail and mixed-use properties primarily in densely populated regions of the eastern United States, including key markets in the Philadelphia, Washington D.C., and Grand Rapids metropolitan statistical areas; the company owns and manages a portfolio exceeding 22.5 million square feet across approximately 15 properties, such as Cherry Hill Mall (anchored by Macy's, Nordstrom, and featuring brands like Apple, Zara, and The Capital Grille following a $220 million redevelopment), Woodland Mall (anchored by Macy's, Von Maur, and tenants including The Cheesecake Factory and REI), Mall at Prince George's, Springfield Town Center (with LEGO Discovery Center opened in 2023), Plymouth Meeting Mall, Capital City Mall (anchored by Dick's Sporting Goods and Dave & Buster's), Viewmont Mall, Patrick Henry Mall, Francis Scott Key Mall, Jacksonville Mall, Moorestown Mall, Magnolia Mall, Exton Square, and Dartmouth Mall, emphasizing five core opportunity areas of multifamily and hotel developments, health and tech integrations, retail, essentials and grocery, and experiential destinations to create one-stop shopping, dining, entertainment, and lodging hubs for affluent communities. PREIT serves retail tenants, shoppers, and local residents through integrated operations encompassing leasing, acquisitions, dispositions, and adaptive redevelopments that blend traditional malls with emerging mixed-use elements; its geographic footprint concentrates in high-demand MSAs across the Mid-Atlantic, Northeast, Midwest, and DC Metro regions, targeting military markets, growing residential areas with luxury apartments under construction, and trade zones between major cities like Baltimore, Washington D.C., and Norfolk. In recent developments, PREIT emerged from its second Chapter 11 bankruptcy restructuring in April 2024 with reduced debt, new leadership including a chairman expressing bullishness on mall viability, and strategic evaluations of asset sales such as Exton Square based on value considerations; the company advanced mixed-use transformations, including approvals for 460 apartments and a 165-room hotel at Springfield Town Center in late 2022 with ongoing progress, alongside new tenant attractions like Alo Yoga, Kendra Scott, and Kooma Asian Fusion at Cherry Hill Mall, and elevated dining and retail at Mall at Prince George's amid surrounding residential growth; PREIT continues portfolio optimization post-bankruptcy, marked as potentially delisted from NYSE while trading over-the-counter as PRET, with focus on high-quality, purposeful places amid commercial real estate challenges.