QUOTE AND NEWS
Market Intelligence Center  May 22  Comment 
Pennsylvania Real Estate Investment Trust (NYSE: PEI) closed Tuesday's trading session at $22.11. In the past year, the stock has hit a 52-week low of $11.81 and 52-week high of $22.11. Pennsylvania REIT (PEI) stock has been showing support around...
StreetInsider.com  May 16  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Dividends/Pennsylvania+Real+Estate+Investment+Trust+%28PEI%29+Declares+%240.18+Quarterly+Dividend%3B+3.4%25+Yield/8348015.html for the full story.
StreetInsider.com  May 6  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Upgrades/Stifel+Nicolaus+Upgrades+Pennsylvania+Real+Estate+Investment+Trust+%28PEI%29+to+Buy/8306289.html for the full story.
Benzinga  May 1  Comment 
Pennsylvania Real Estate Investment Trust (NYSE: PEI) today announced that it has priced an underwritten public offering of 10,000,000 of its common shares of beneficial interest at $20.00 per share. The joint book-running managers for this...
Benzinga  Apr 30  Comment 
Pennsylvania Real Estate Investment Trust (NYSE: PEI) today announced that it has commenced an underwritten public offering of 10,000,000 common shares of beneficial interest. The joint book-running managers for this offering are Wells Fargo...
Market Intelligence Center  Apr 10  Comment 
Pennsylvania Real Estate Investment Trust (NYSE: PEI) closed Tuesday's trading session at $18.71. In the past year, the stock has hit a 52-week low of $11.81 and 52-week high of $19.86. Pennsylvania REIT (PEI) stock has been showing support around...
Market Intelligence Center  Apr 4  Comment 
Pennsylvania Real Estate Investment Trust (NYSE: PEI) closed Wednesday's trading session at $18.53. In the past year, the stock has hit a 52-week low of $11.81 and 52-week high of $19.86. Pennsylvania REIT (PEI) stock has been showing support...
Market Intelligence Center  Feb 28  Comment 
Pennsylvania Real Estate Investment Trust (NYSE: PEI) closed Wednesday's trading session at $18.18. In the past year, the stock has hit a 52-week low of $11.81 and 52-week high of $19.29. Pennsylvania REIT (PEI) stock has been showing support...
Market Intelligence Center  Feb 22  Comment 
Pennsylvania Real Estate Investment Trust (NYSE: PEI) closed Thursday's trading session at $18.19. In the past year, the stock has hit a 52-week low of $11.81 and 52-week high of $19.29. Pennsylvania REIT (PEI) stock has been showing support...
Market Intelligence Center  Jan 11  Comment 
Pennsylvania Real Estate Investment Trust (NYSE: PEI) closed Thursday's trading session at $18.57. In the past year, the stock has hit a 52-week low of $11.26 and 52-week high of $19.04. Pennsylvania REIT (PEI) stock has been showing support...




 
TOP CONTRIBUTORS

Company Overview

Pennsylvania Real Estate Investment Trust (NYSE:PEI) is a REIT that owns, manages, develops, and leases shopping malls and power centers. Currently, PEI owns 55 properties primarily in the Mid-Atlantic region. Recently, PEI has faced lower property occupancy rates as a result of the economic recession. Additionally, PEI has benefited from low interest rates as a result of the economic recession since it holds a significant amount of floating rate debt.

Business Growth

In FY2010, PEI reported revenues of $450 million, up from $448 million the previous year. [1] This growth was due to PEI's acquisition of large format retailers which serve as anchors to their properties. PEI also increased non-anchor occupancy by 260 Basis Point (BPS) in FY2010.

Trends and Forces

Low Interest Rates Benefit PEI's Floating Rate Debt

PEI, like all other Real Estate Investment Trust (REIT), is a highly leveraged company, and incur significant Interest Expense each year. PEI has a floating rate debt of approximately $55 million, which means that interest rate on this debt moves with the current market interest rate. Interest Rates have decreased as a result of the economic recession, which benefits PEI's floating debt, reducing interest rate expense.

Lower Discretionary Spending Depress Property Occupancy

Due to the recent U.S. Economic Cycles recession, consumers have less Discretionary spending, which has caused many companies to go out of business or close down store locations. This has caused Occupancy Rate to decrease in shopping malls, adversely affecting revenues for REITs such as PEI. Lower occupancy rates implies fewer tenants and lower rental income for PEI. As U.S. consumers recover from the economic recession, their Consumer confidence/Bears will increase and mall occupancy should follow.

Competition

Pennsylvania Real Estate Investment Trust competes with other Real Estate Investment Trust (REIT) that that owns, manages, develops, and leases shopping malls and power centers.



References

  1. HVT February 28, 2011 Press Release
  2. Hoover's CDR
  3. Hoover's AKR
  4. Hoover's SPG
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