PEI News and Press, Pennsylvania Real Estate Investment Trust From 11/04/20

Regional malls, outlet centers, and shopping centers are suffering from rising vacancies and declining rents due to the transition to e-commerce, government lock-downs, and recession. We dramatically trimmed our exposure to retail REITs over the past two years as we began to understan...

Pennsylvania REIT ([[PEI]] -17.9%) gets court approval for a Nov. 24 hearing to confirm its prepackaged bankruptcy plan and disclosure statement over the objection of a creditor, Bloomberg reports.The motion was approved by Judge Karen B. Owens in a Delaware Court despite the objections by St...

Bankruptcies are extremely rare in the REIT sector . After all, REITs are required to keep the bulk of their assets in physical properties, or debt backed by real estate. Most real estate tends to appreciate over time, and as long as it holds its value, a REIT can sell properties to pay...

Pennsylvania Real Estate Investment Trust (PEI) says it filed for Chapter 11 bankruptcy protection to implement a prepackaged financial restructuring plan that received support from 95% of creditors.PREIT says the restructuring will have no impact on its shareholders, and common and preferred...

PREIT Commences Process to Implement Prepackaged Plan to Strengthen the Business and Enhance Financial Flexibility Files Voluntary Petitions for Reorganization Under Chapter 11 Prepackaged Plan Approved by 95% of Voting Lenders Operations Continuing as Normal; Court-Supe...

U.S. equity markets plunged by the most since March this week as a strong slate of economic data and corporate earnings was overwhelmed by pre-election jitters and amplified coronavirus concerns. A cascading wave of lockdowns across Europe rattled global equity markets while narrowing...

PREIT Schedules Third Quarter 2020 Earnings Release PR Newswire PHILADELPHIA, Oct. 30, 2020 PHILADELPHIA , Oct. 30, 2020 /PRNewswire/ -- Pennsylvania Real Estate Investment Trust (PREIT/NYSE: PEI) intends to release its financial results for the quarter endin...

Did the rent get paid? We're at the halfway-point of another newsworthy REIT earnings season. Results thus far have been better-than-expected as dividend cuts have given way to dividend boosts. After 63 equity REITs and 32 mortgage REITs cut dividends in Q2, just three REITs have anno...

PREIT (PEI) +1.8% has amended terms of restructuring support agreement to extend time through October 28, 2020 to achieve the support of 100% of its lenders, providing the runway to achieve an out-of-court restructuring.Press Release For further details see: PREIT extends...

Pennsylvania REIT (PEI) received letters from lenders regarding alleged events of default related to its seven-year term loan agreement, its restated revolving/term loan credit agreement, and its bridge credit agreement.It also received a letter from consenting lenders under its restructuring...