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News Breaks
March 5, 2014
06:17 EDTPEIPennsylvania REIT downgraded to Hold from Buy at Stifel
Stifel downgraded Pennsylvania REIT citing the Springfield Town Center acquisition and the need for additional equity for funding and redevelopment.
News For PEI From The Last 14 Days
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July 28, 2015
19:51 EDTPEIPennsylvania REIT sells three malls for $95.4M
Pennsylvania Real Estate Investment Trust announced that it has entered into an agreement of sale for three malls to an institutional buyer. The assets under agreement of sale, which are subject to customary closing conditions, are Gadsden Mall in Gadsden, AL, Wiregrass Commons Mall in Dothan, AL and New River Valley Mall in Christiansburg, VA. The three assets are expected to be sold in one transaction for $95.4M. This would constitute a total of 10 malls sold under the company's disposition program. Total funds raised through assets sales including malls, power centers and various parcels would total over $560M. In addition to these transactions, the company is also negotiating agreements of sale on two additional non-core malls, which it hopes to execute within the next several weeks.
17:55 EDTPEIPennsylvania REIT lowers FY15 AFFO view to $1.84-$1.89 from $1.87-$1.92
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17:53 EDTPEIPennsylvania REIT reports Q2 AFFO 39c, consensus 42c
Reports Q2 revenue $101.7M, may not compare to consensus $67.38M.

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