Co-produced with Beyond Saving and PendragonY.
Introduction
Back in March, we recommended investors consider investing in the preferred equity of Pennsylvania Real Estate Investment Trust (PEI). With a common dividend yielding over 16%, the common equities are certainly tempting, however sentiment remains strongly against the mall sector. We already have exposure to malls through the 30%+ yielding Washington Prime Group (WPG) and the 10.5% yielding Macerich (MAC).
While we love the huge discounts in mall REITs right now, we also seek to reduce volatility and dividend risk. To