Pennsylvania Real Estate Investment Trust
PEI-PC
New York Stock Exchange3.32
USD
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Pennsylvania Real Estate Investment Trust
PEI-PC
(New York Stock Exchange)
Recent
price
3.32
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- Pennsylvania Real Estate Investment Trust (PREIT), founded in 1960 and headquartered in Philadelphia, Pennsylvania, operates as a real estate investment trust focused on the ownership, management, leasing, redevelopment, and disposition of retail shopping centers and experiential destinations primarily in densely populated regions of the eastern United States, including the Mid-Atlantic, Northeast, DC Metro, and Midwest markets; its portfolio encompasses over 23.5 million square feet across premier properties such as Cherry Hill Mall in Cherry Hill, New Jersey, Capital City Mall in Camp Hill, Pennsylvania, Francis Scott Key Mall in Frederick, Maryland, and Dartmouth Mall in Dartmouth, Massachusetts, with strategic emphasis on mixed-use transformations integrating multifamily housing and hotels, health and tech facilities, essentials and grocery anchors, retail tenants, and experiential offerings like dining, entertainment, and pop-up platforms to create community-centric hubs. PREIT targets high-traffic, market-dominant locations serving diverse retailers, restaurants, entertainment venues, and emerging tenants such as DICK's House of Sport, Tilted 10, Cooper University Health Care, and Burlington. In 2024, PREIT completed a prepackaged Chapter 11 reorganization supported by 100% of its secured lenders, reducing total debt by approximately $835 million, securing $130 million in new debtor-in-possession and exit financing led by Redwood Capital Management and Nut Tree Capital Management, transitioning to a private entity under new leadership with Jared W. Chupaila as CEO and Glenn Rufrano as chairman, and transferring its equity interest in the Fashion District Philadelphia joint venture to partner Macerich in exchange for a full release of related guarantees.