PEI - PREIT reports strong leasing activity growth in Q1

Pennsylvania Real Estate Investment Trust (PEI) trades 2.2% higher premarket after reporting that during Q1 it executed transactions to occupy ~600K sq.ft. of space which compares to 100K sq.ft. in whole of 2020; represents a 35% increase over new space leased in all of 2019.Since the end of the quarter, the company  signed three new leases with Rose & Remington, Windsor Fashions and Rue 21."Our ability to attract a wide array of uses to our communities, including expanding core retailers, is evident in our healthy and growing pipeline while demonstrating that quality retail and lifestyle experiences will continue to thrive long-term and gain increased market share," chairman & CEO Joseph F. Coradino commented.

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PREIT reports strong leasing activity growth in Q1