Pennsylvania Real Estate Investment Trust
PEI-PD
New York Stock Exchange3.11
USD
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Pennsylvania Real Estate Investment Trust
PEI-PD
(New York Stock Exchange)
Recent
price
3.11
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Pennsylvania Real Estate Investment Trust (PREIT) (NYSE: PEI-PD) owns and operates a portfolio of premier retail shopping centers and mixed-use properties primarily in densely populated regions of the eastern United States, including the Philadelphia, Washington D.C., and Grand Rapids metropolitan areas; its core assets encompass over 23.5 million square feet of retail space across dominant regional malls such as Cherry Hill Mall, Woodland Mall, Mall at Prince George's, Springfield Town Center, Capital City Mall, Viewmont Mall, Patrick Henry Mall, and Francis Scott Key Mall, featuring anchor tenants like Macy's, Nordstrom, Dick's Sporting Goods, Von Maur, and experiential retailers including Apple, The Cheesecake Factory, REI, LEGO Discovery Center, and Dave & Buster's, alongside flexible business development platforms for carts, kiosks, pop-ups, and in-line leasing opportunities that support multi-family, hotel, health & tech, essentials & grocery, and experiential retail segments. Founded in 1960 and headquartered in Philadelphia, Pennsylvania, PREIT targets high-demand markets with community-centric hubs that integrate shopping, dining, entertainment, and residential elements to serve affluent suburban and urban customers. In April 2024, PREIT completed a comprehensive financial restructuring through a pre-packaged Chapter 11 bankruptcy process, reducing total debt by approximately $835 million, securing $130 million in new financing led by Redwood Capital Management, LLC and Nut Tree Capital Management, LP, extinguishing existing equity interests, exiting SEC reporting status, and transferring its Fashion District Philadelphia joint venture interest to partner Macerich in exchange for a full release of guarantees; the company simultaneously implemented leadership changes, appointing Jared Chupaila as Chief Executive Officer and Glenn J. Rufrano as Executive Chairman to drive portfolio stabilization and redevelopment initiatives.