PEI - Can PREIT Save Itself Before It's Too Late?

• PREIT's NOI almost completely recovered compared to 2019 in the fourth quarter of 2021.
• Despite this big improvement in operating performance, PREIT shares have continued sinking due to the REIT's lack of progress on debt reduction.
• PREIT has a solid pipeline of asset sales likely to be completed this year.
• The mall REIT has multiple potential paths to achieving the deleveraging needed to refinance its debt. Refinancing would unlock substantial upside for common and preferred shares.
• PREIT preferred shares look like a more attractive (but still highly speculative) opportunity than the common shares.

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