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PEI - Pennsylvania REIT Earnings: Another Step Forward Whatever Mr. Market Thinks
Pennsylvania Real Estate Investment Trust
PREIT common and preferred shares have plunged in value since the REIT's Q3 earnings report.
While PREIT's results weren't quite as strong as in Q2, its properties are still on their way back to full occupancy, and rents appear to be firming up.
Management says it expects to close on over $120 million of asset sales by mid-2022.
To refinance its pricey term loan debt, PREIT needs to raise additional capital, ideally from selling JV interests (or outright sales) for some of its malls.