PEI - PREIT provides business update; cash receipts increase in core portfolio traffic

In its business update, Pennsylvania Real Estate Investment Trust ([[PEI]] +1.0%) indicated that it has secured a one-month extension and obtained the flexibility for a $25M expansion of its liquidity facility.The company is working towards a comprehensive financial restructuring to strengthen its balance sheet and position it for long-term success.As of September 30, 2020, PREIT reported cash receipts representing 67% of billed Q2 and Q3 rents; cash receipts to date represent ~99% of Q3 rents, including payments toward prior months.Quick look at the company's revenue, total revenue in past few quarters:Its portfolio is fully operational and substantially re-occupied, with 4% of tenants failing to re-open following the pandemic-related closures; post re-opening 163K sq.ft of new tenants have opened for business in the same store portfolio and 82K opened at Fashion District.For the week ended September 20th, traffic in PREIT's core comparable portfolio increased ~7% vs. the prior week; September traffic across

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PREIT provides business update; cash receipts, increase in core portfolio traffic