STOCK TITAN
  1. Home
  2. News
  3. PRET

Pennsylvania Real Estate Investment Trust - $PRET STOCK NEWS

Welcome to our dedicated page for Pennsylvania Real Estate Investment Trust news (Ticker: $PRET), a resource for investors and traders seeking the latest updates and insights on Pennsylvania Real Estate Investment Trust stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Pennsylvania Real Estate Investment Trust's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Pennsylvania Real Estate Investment Trust's position in the market.

News
PREIT Looks Forward to Welcoming Coveted Brand Primark to Mall at Prince George's
Rhea-AI Summary
PREIT announces lease with Primark at Mall at Prince George's, adding to its diverse tenant mix and highlighting its track record of replacing anchor stores. Primark's expansion plans align with PREIT's commitment to creating compelling retail destinations. The location's proximity to Washington DC and Amazon HQ2 is expected to drive strong foot traffic.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.89%
Tags
none
-
News
PREIT Takes Steps to Significantly Strengthen Balance Sheet and Solidify Future of Business
Rhea-AI Summary
PREIT (OTCQB: PRET) announces a comprehensive reorganization to strengthen its balance sheet, reduce total indebtedness by $880 million, and extend its maturity runway. The reorganization plan is supported by 100% of the company's First and Second Lien Lenders. The company has received commitments for new money DIP and exit revolver financing of approximately $135 million. PREIT has filed a voluntary Chapter 11 petition and expects to emerge from bankruptcy by early February 2024, paying all vendors, suppliers, and employees during the proceedings.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
79.17%
Tags
none
-
News
PREIT Reports Third Quarter 2023 Results
Rhea-AI Summary
PREIT (OTCQB:PRET) reported a 93.6% total occupancy and 94.8% portfolio leased, with average renewal spreads of 8.5% for the quarter ended September 30, 2023. The company experienced a net loss of $12.00 per basic and diluted share for the three months ended September 30, 2023, compared to $14.52 in 2022. The rolling 12-month Core Mall comparable sales were $585 per square foot, and the company sold assets generating over $30 million in gross proceeds since the beginning of 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-30.77%
Tags
earnings
News
Over a Dozen Diverse and Impactful Tenants in 575,000 Square Feet Opening Throughout PREIT Portfolio, Strengthening Core Assets
Rhea-AI Summary
PREIT (OTCQB: PRET) announced the addition of new and diverse tenants across its portfolio, including entertainment options, open air tenants, grocers, healthcare facilities, and more. Recent and upcoming openings include a Lego Discovery Center, Burlington, DICK's House of Sport, Tilted 10, Cooper University Health Care, Extra Space Storage, ULTA, Forever 21, Main Event, Abercrombie & Fitch, Versona, and Meritus Health. These additions aim to create a vibrant multi-use destination and enhance the consumer experience, signaling PREIT's ability to replace outdated department stores with modern, appealing tenants.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.96%
Tags
none
-
News
PREIT Schedules Second Quarter 2023 Earnings Release and Conference Call
Rhea-AI Summary
PREIT (OTCQB:PRET) will release its financial results for the quarter ending June 30, 2023 on August 3, 2023. A conference call is scheduled for the same day at 11:00 a.m. Eastern Time to review the results and future outlook. Investors can access the call via phone or internet. Financial and statistical information discussed on the call will be available on the Company's website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.03%
Tags
earnings
-
News
PREIT Board of Trustees Issues Response to Letter from John R. Saunders
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.17%
Tags
none
News
PREIT Board of Trustees Issues Response to Letter from "Concerned Shareholders"
Rhea-AI Summary
PREIT issued a statement in response to a letter from shareholders David Steinberg, Scott Bishins, and Michael Mayer. The company is open to input and is pursuing alternatives to address upcoming debt maturity, including refinancing, selling assets, and engaging in discussions with lenders. In 2022, PREIT sold assets generating over $113 million in gross proceeds and used the proceeds and excess cash to pay down debt by over $157 million. They continue to pursue entitlements and approvals for multifamily properties.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.84%
Tags
none
-
News
PREIT's Crown Jewel, Cherry Hill Mall, Continues to Attract Best-in-Class Tenants
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
News
PREIT Board of Trustees Issues Response to Open Letter to Shareholders Issued by Two Independent Trustees
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
News
PREIT Reports First Quarter 2023 Results
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-13.33%
Tags
earnings
Stock PRET logo
Pennsylvania Real Estate Investment Trust

OTC:PRET

PRET Rankings

N/A Ranked by Market Cap
N/A Ranked by Stock Gains
N/A Ranked by Dividends

PRET Stock Data

2.69M
4.75M
45.65%
0%
16.03%
Other Financial Vehicles
Finance and Insurance
Link
US
Philadelphia

About PRET

preit (nyse:pei) is a publicly traded real estate investment trust specializing in the ownership and management of differentiated shopping malls. headquartered in philadelphia, pennsylvania, the company owns and operates over 23 million square feet of retail space in the eastern half of the united states with concentration in the mid-atlantic region’s top msas. since 2012, the company has driven a transformation guided by an emphasis on balance sheet strength, high-quality merchandising and disciplined capital expenditures. additional information is available at www.preit.com.