- 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.
For further details see:
Pennsylvania REIT Earnings: Another Step Forward, Whatever Mr. Market Thinks