Pennsylvania R.E.I.T. (PRETQ)

[Enterprising Investor]

PREIT Celebrates the Strong Consumer and the Positive Implications for the Pace and Strength of Industry Recovery (6/23/21)

PHILADELPHIA, June 23, 2021 /PRNewswire/ -- PREIT (NYSE: PEI), a leading real estate owner and developer, redefining the future of the mall with mixed-use districts, highlighted several factors contributing to its optimism about the recovery of its communities:

Traffic - During the month of May, traffic on average throughout PREIT's portfolio exceeded 90% of May 2019 levels. Five standout properties generated traffic of 105% of 2019 levels and continue to outperform 2019 today.

In particular, Patrick Henry Mall continues to attract a broader consumer base than pre-pandemic, registering 104% of 2019 traffic on a year-to-date basis. The dominant enclosed shopping center on the Hampton Roads peninsula, Patrick Henry Mall is the only enclosed mall between Norfolk and Richmond. Since it's reopening, comparable tenants have registered double-digit sales growth, on average.

Sales – Over 50% of PREIT's managed properties generated sales growth over the comparable period prior to the mall closures. Capital City Mall and Magnolia Mall, both dominant in their markets, have generated particularly impressive sales growth, reflecting their winner-take-all status.

Occupancy – Over 700,000 square feet of new space has been signed for occupancy, representing over 150% of 2019 volumes. This includes a healthy mix of traditional mall retailers, emerging retailers, new-to-portfolio, clicks-to-bricks brands and non-traditional uses. Importantly, PREIT's growing pipeline of executed transactions represented over $8.3 million in annualized future revenue as of March 31, 2021.

Collections- continuing a trend of tenant business improvement and repayment of deferred rents, PREITs cash collections have continued to be strong, recovering amounts agreed to be paid later. In April and May, cash collected represented 149% and 119% of billed rents, respectively.

"We're excited to welcome customers back to tactile, in-person experiences that have been largely unavailable to them over the last year and a half. Seeing statistics outpacing 2019 numbers paints a telling picture for the future of this business," said Joseph F Coradino, CEO of PREIT. "Our transformative vision for properties previously conceived as traditional malls, strategically reimagining them as lifestyle destinations for consumers seeking one-stop for their daily needs should result in continuing to strengthen our community hubs, generating strong results for all stakeholders."

About PREIT

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages innovative properties at the forefront of shaping consumer experiences through the built environment. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in densely-populated, high barrier-to-entry markets with tremendous opportunity to create vibrant multi-use destinations. Additional information is available at www.preit.com or on Twitter or LinkedIn.

https://www.prnewswire.com/news-releases/preit-celebrates-the-strong-consumer-and-the-positive-implications-for-the-pace-and-strength-of-industry-recovery-301317765.html

[Enterprising Investor]

Thank you for the insight.

I know that I was in the dark.

It is interesting that he chose to mention two REITs in which I had capital deployed. I sold both PEI and WPG common shares.

I sold 85 percent of my PEI holdings, keeping the shares that are covering July 2 calls. My PEI stake was purchased in stage II of the bankruptcy.

The spike in WPG was only a partial recovery.

Thank you, Mr. Meade.

Anticipate the opportunity to buy back PEI at lower levels next week.

I'm heading in a different direction with WPG.

[vpagano]

No dog in the fight here, but Will Meade is a fraud and has many of us blocked on Twitter for calling him out over time. So proceed with caution.

[CyrusDaVirus]

Good call

[ClayTrader]

* * $PEI Video Chart 06-02-2021 * *

Link to Video - click here to watch the technical chart video

[Enterprising Investor]

On Tuesday afternoon, Will Meade, self-described as a former hedge fund manager, posted on Twitter that PREIT is one of the "cheapest re-opening plays left."

$PEI is the next $AHT and or $WPG
A mall REIT that is now one of the cheapest re-opening plays left

Will Meade
@realwillmeade

[pappi]

PEI is running high these days. holding long...still very likely a LT bargain.
-p

[pappi]

Nice piece:

https://finance.yahoo.com/news/preit-reports-robust-leasing-activity-105500725.html

Very long.
/p

[pappi]

Completely agree. This is a hold for now. Closed up, despite the fiscals. Preferreds have to get paid the backlog, then the dividend to common returns. Another quarter of recovery and stimulus should do nicely.

-p

[hercules16]

It's trying to hold $2 today, but too early to tell. After reading the earnings report released last night (Cliffs note version for Q4 66.6 million revenue, 51.4 million Operating Expense, 30 million interest paid) I wanted to sell. The conference call provides some hope they can work through these times and survive/thrive in the future.

[SayIt]

Can it hold $2?

[Enterprising Investor]

PREIT Completes Key Step in Financial Restructuring, Extending Maturity Date of Mortgage Loan Secured by Woodland Mall (2/11/21)

PHILADELPHIA, Feb. 11, 2021 /PRNewswire/ -- PREIT (NYSE: PEI), a leading owner and operator of distinctive real estate in high barrier-to-entry markets, today announced that it has entered into an amendment to the mortgage loan secured by Woodland Mall, one of the Company's key redevelopment projects opened in 2019. This amendment marks a key step in the Company's balance sheet repositioning effort.

Key terms of the amendment include:

Maturity date extension to 12/10/21 with a 12-month extension option;

Interest rate revisions;

Guaranty reduced to $10 million with restrictions on lenders exercising rights and remedies.

Woodland Mall opened its highly anticipated expansion wing in October 2019, featuring a vibrant lineup of tenants, resulting in double-digit traffic growth over the recent holiday season. The mall is home to the only Von Maur, Apple, Urban Outfitters, and REI locations in West Michigan. Shoppers would need to travel over 100 miles to find another tenant lineup that includes Sephora, Williams-Sonoma, Lush, Pottery Barn, Von Maur and Altar'd State.

"Completing this transaction is a key step in PREIT's balance sheet repositioning as we move forward in executing on or plan to strengthen our portfolio of distinctive real estate through the addition of a unique mix of uses to create a more powerful business model," said Joseph F. Coradino, PREIT Chairman and CEO.

About PREIT

PREIT (NYSE:PEI) is a publicly traded real estate investment trust (REIT) that owns and manages distinctive real estate in high barrier-to-entry markets at the forefront of enabling communities through the built environment. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in densely-populated, high barrier-to-entry markets with tremendous opportunity to create vibrant multi-use destinations. Additional information is available at preit.com or on Twitter or LinkedIn.

https://www.prnewswire.com/news-releases/preit-completes-key-step-in-financial-restructuring-extending-maturity-date-of-mortgage-loan-secured-by-woodland-mall-301226665.html

[Enterprising Investor]

PREIT Executes 90,000 Square Foot Lease for Self Storage Facility at Mall at Prince George's (2/02/21)

Transaction highlights PREITs ingenuity in transforming underutilized space, that had never been occupied before, and delivering a broad array of uses

PHILADELPHIA, Feb. 2, 2021 /PRNewswire/ -- PREIT (NYSE: PEI), a leading operator of distinctive real estate in high barrier-to-entry markets, today announced that is has signed a new lease for a self storage facility at Mall at Prince George's in Hyattsville, MD. The site will be developed by Poverni Sheikh Group, LLC, it's 10th self-storage project in the Mid-Atlantic. The approximately 90,000 square foot facility of drive-in sub grade space is expected to open in Q1 2022, delivering a new source of non-retail revenue.

Located just outside of Washington DC, the property is perfectly situated to benefit from growth in the region, along the Metro line and approximately 15 miles from Amazon HQ2 in Crystal City. In densely populated Hyattsville, MD, MPG is surrounded by a growing trade area where household incomes exceed the US average by over 15 percent. Nearly $1 billion has been invested in the region over the past several years on high quality housing and office development, underscoring the immense potential for a growing shopper community.

PREIT is focused on reinventing its platform by creating a diverse and expansive environment, marked by a healthy mix of uses that capitalize on bullseye locations to produce a broader consumer base, create stronger business models and provide greater market flexibility. This amenity adds to the broad array of attractions already at MPG, including attractive quick-serve dining options Chipotle, Five Guys, & Pizza, Mezeh Mediterranean; full service dining offerings Miller's Ale House and Outback Steakhouse; Fitness facility Planet Fitness, complementing the sought after retail offerings H&M, ULTA, DSW, Target, Marshall's, Ross Dress for Less, among others.

Eugene Poverni, CEO of Poverni Sheikh Group, LLC commented, "We're excited to have our second Prince George's County self-storage location in such a vibrant, retail rich environment and look forward to being an amenity for the community at-large."

Poverni Sheikh Group, LLC is a 30-person vertically integrated real estate company with in-house development, construction, bridge lending and property management platforms, with a particular emphasis on the self-storage and multifamily real estate sectors. The Company has developed in excess of $250m of real estate across 15+ projects and lent over $100m to its borrowers since the Company's 2012 inception. Poverni Sheikh Group, LLC was represented by John Leskow of Savills Inc, a national real estate firm specializing in tenant representation.

"This new addition is the perfect example of our value-add approach to our portfolio in a dynamic environment, turning unused space into a storage facility in a market dense with new apartment homes," said Joseph F. Coradino, CEO of PREIT. "This is yet another example of PREIT's progress in its plan to maximize the value of its distinctive real estate portfolio through the introduction of the highest and best uses available across its portfolio, enhancing strong assets in a great markets."

About PREIT

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages distinctive real estate in high barrier-to-entry markets at the forefront of shaping consumer experiences through the built environment. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in densely-populated, high barrier-to-entry markets with tremendous opportunity to create vibrant multi-use destinations. Additional information is available at www.preit.com or on Twitter or LinkedIn.

https://www.prnewswire.com/news-releases/preit-executes-90-000-square-foot-lease-for-self-storage-facility-at-mall-at-prince-georges-301219895.html

[Enterprising Investor]

PREIT and CBRE Join Forces to Chart New Future for Plymouth Meeting Mall (1/28/21)

Ideally-Situated Asset Creates Opportunity for Vast Array of Uses

HILADELPHIA, Jan. 28, 2021 /PRNewswire/ -- PREIT (NYSE: PEI), a leading operator of distinctive real estate in high barrier-to-entry markets, today announced that the Company has engaged CBRE to help execute its vision to bring a multitude of new uses to Plymouth Meeting Mall as the Company furthers its strategy of transforming its portfolio into multi-use destinations.

Located at the intersection of the Pennsylvania Turnpike, Interstate 476, and the Northeast Extension with over 90 million cars passing the property annually, Plymouth Meeting Mall offers a differentiated experience to an expanded trade area. The property counts among its offerings one of 9 LEGOLAND Discovery Center locations in the country; Whole Foods; Dave & Buster's; a renovated AMC Movie Theatre; Cyclebar, an indoor cycling studio; five existing sit-down restaurants and quick service food options. Today, nearly half of the property's space is dedicated to dining and entertainment, underscoring PREIT's early adoption of these experiential offerings to reimagine the retail experience.

As part of its efforts to drive the quality of its portfolio and upgrade anchor spaces, Plymouth Meeting Mall has welcomed over 200,000 square feet of new retail, dining and experiential concepts to its tenant mix at Plymouth Meeting Mall recently, including: Dick's Sporting Goods, Burlington, Miller's Ale House, Edge Fitness, Michael's, Sola Salon and Restore Hyperwellness & Cryotherapy, Ideal Image, Roll by Goodyear and Plymouth Performing Arts. Upon opening in early February, Shake Shack will become the newest addition to this dynamic roster.

"PREIT has retained the broad enterprise resources of CBRE to source development and investment partners in non-retail sectors including life sciences, biotech, education and others as well as conventional office users that will take advantage of the region-leading location, access, and strong retail amenity base," according to Steven Gartner, Executive Vice President of CBRE, who's leading the company's multidisciplinary team.

"Through smart integration of non-retail uses alongside our array of retail segments and entertainment, dining, grocery, wellness and fitness, PREIT is committed to its plan to maximize the value of its distinctive real estate portfolio through the introduction of the highest and best uses available across its portfolio," said Joseph F. Coradino, CEO of PREIT.

This effort complements PREIT's multi-use destination effort already underway. Plymouth Meeting Mall is expected to benefit from Company's plan to diversify the mix of uses at its mall sites to produce a broader consumer base, create stronger business models and provide greater market flexibility. Like many of PREIT's Philadelphia and DC-area properties, Plymouth Meeting Mall is ideally situated for a new mix of uses with tremendous access to roadways and an amenity-rich platform.

Coradino continued, "Our foresight has shaped a high-quality real estate portfolio with a strong retail core that attracts a distinctive mix of new uses to redefine the future-ready retail and leisure district. The synergistic additions of office users will benefit our existing tenants and communities by increasing visits to the property and delivering a new customer."

About PREIT

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages innovative properties at the forefront of shaping consumer experiences through the built environment. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in densely-populated, high barrier-to-entry markets with tremendous opportunity to create vibrant multi-use destinations. Additional information is available at www.preit.com or on Twitter or LinkedIn.

About CBRE

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world's largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

https://www.prnewswire.com/news-releases/preit-and-cbre-join-forces-to-chart-new-future-for-plymouth-meeting-mall-301217721.html

[Enterprising Investor]

Not going anywhere, anytime soon.

[pappi]

Oh yea. Thinking to sell cost shares when it is up four times cost....not a minute sooner and maybe not even then, when it'll still be under book value per share.
-p

[SayIt]

Everyone still hanging on to this rocketship?

[scott456108]

Exercised them, I wasn't online to sell to close when they were worth .50-.60, so I will hold them longer term.

[SayIt]

What did you do on your calls?

[pappi]

Great week. Faster than I thought it'd be. Hanging onto cost shares still, as the upside still remains substantial.

-p

[scott456108]

I hope it continues more, I have some calls to sell or exercise tomorrow.

[SayIt]

Love it. I see 1-2 more days of upside. Stochastics.

[scott456108]

It's a good company, it was way undervalued, should do well this year.

[Valuetrader]

Great call here on $PEI. I'm just riding my freebies now.

[Enterprising Investor]

It looks my common position will be a little smaller next week after the Jan $1 calls get exercised.

[scott456108]

Shorts are getting squeezed.

[Enterprising Investor]

PREIT Regains Compliance with NYSE Continued Listing Standards (1/05/21)

HILADELPHIA, Jan. 5, 2021 /PRNewswire/ -- PREIT (NYSE: PEI), a leading operator of diverse retail and experiential destinations, today announced that it received written notification from the New York Stock Exchange (the "NYSE") that it has regained compliance with the NYSE continued listing standards.

"We are pleased to have regained compliance with all NYSE listing requirements," said Joseph F. Coradino, CEO of PREIT. "We remain focused on execution of our strategic plan to strengthen the Company and create value by re-establishing our portfolio as multi-use destinations."

As previously disclosed, on September 25, 2020, the Company received formal notice from the NYSE that it was not in compliance with the NYSE's continued listing standards as a result of the average closing price of the Company's common shares being less than $1.00 per share over a consecutive 30 trading-day period.

The Company regained compliance after its closing share price on December 31, 2020 and its average closing share price for the 30 trading-day period ended December 31, 2020 both exceeded $1.00. Accordingly, the Company has resumed compliance under the NYSE continued listing standards.

About PREIT

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages innovative properties at the forefront of shaping consumer experiences through the built environment. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in densely-populated, high barrier-to-entry markets with tremendous opportunity to create vibrant multi-use destinations. Additional information is available at www.preit.com or on Twitter or LinkedIn.

https://www.prnewswire.com/news-releases/preit-regains-compliance-with-nyse-continued-listing-standards-301201387.html

[SayIt]

Tax loss selling over and we stayed over a dollar, so expect a rise next week.

[pappi]

How prescient! I see a C11 document popped on resolution. Monday should be interesting....

-p

[Enterprising Investor]

Don’t expect any wide swings until the last hour of trading today.

[scott456108]

I am expecting a big bump early next year after tax selling, but I would say smart money will not be selling and shorts may bet squeezed if the institutions take note of it. I am holding some Jan 15 calls, so I hope it happens fast, but if I have enough money I will exercise them. Because this appears to be a very well run company.

[Valuetrader]

Loaded a few more $PEI today at 1.02. This should climb back up to at least 3.00 at some point next year IMO.

[scott456108]

Probably an ok entry point imho, I am expecting a nice jump after tax selling at the end of year. I think we will have lots of buyers early next year as a value play, and maybe some short squeezing.

[pappi]

Nice to see it out of C11. Nice to see a vaccination cleared. Nice to see SCOTUS resolve the election politics (whichever side one might be on). All of this bodes well for PEI.

[Valuetrader]

Great news! I took a starter here at 1.12.

[Enterprising Investor]

PREIT Successfully Completes Financial Restructuring (12/11/20)

- New Capital Strengthens Balance Sheet and Extended Maturity Schedule Increases Financial Flexibility

- All Properties Are Open, Serving Consumers, and Ready for the Holiday Season

PHILADELPHIA, Dec. 11, 2020 /PRNewswire/ -- PREIT (NYSE: PEI), a leading operator of diverse retail and experiential destinations, today announced it has successfully completed its financial restructuring and emerged from Chapter 11 following an expedited process.

Consistent with previous announcements, PREIT now has access to up to $130 million of new capital to support its operations and continue advancing its strategic priorities. In addition to recapitalizing its business, PREIT's debt maturity schedule has been extended, providing the Company with enhanced financial flexibility.

Throughout the restructuring process, PREIT has continued operations as usual and met all obligations to tenants, suppliers and the communities in which it operates. In addition, suppliers and other trade creditors and business partners were unimpaired, and all suppliers and employees have been, and will continue to be, paid in full. The Company's common stock will continue to trade on the New York Stock Exchange (NYSE) under the same ticker symbol PEI. Moving forward, PREIT will continue to offer distinctive retail and experiential destinations as it moves to transform its portfolio of bullseye locations in high barrier-to-entry markets into multi-use sustainable districts incorporating an array of new uses, while prioritizing the health and safety of its employees, partners, customers and communities.

"We have significantly strengthened the Company thanks to the overwhelming support of our financial stakeholders, as well as our employees, customers, communities and business partners," said Joseph F. Coradino, CEO of PREIT. "Having quickly and efficiently completed our financial restructuring, PREIT is now a more resilient company with additional resources and financial flexibility to continue delivering terrific experiences for consumers and outstanding service for our retail partners. PREIT has a history of being a first-mover in adapting to new trends in retail and will continue to stay ahead of the emerging concepts and uses across our portfolio."

Coradino continued, "On behalf of all of us at PREIT, I thank our tenants, suppliers, and other business partners for their support throughout this process. I am also deeply grateful to our dedicated employees for their hard work and unwavering commitment to working safely, delivering great experiences and executing our winning strategy."

DLA Piper LLP (US) LLP, Faegre, Drinker, Biddle & Reath LLP and Wachtell, Lipton, Rosen & Katz are serving as legal counsel and PJT Partners LP is serving as financial advisor to PREIT.

About PREIT

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages innovative properties at the forefront of shaping consumer experiences through the built environment. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in densely-populated, high barrier-to-entry markets with tremendous opportunity to create vibrant multi-use destinations. Additional information is available at www.preit.com or on Twitter, Instagram or LinkedIn.

https://www.prnewswire.com/news-releases/preit-successfully-completes-financial-restructuring-301190970.html

[Enterprising Investor]

Effective Date has occurred (12/10/20)

3. Effective Date. On December 10, 2020 (the “Effective Date”), each of the conditions precedent to consummation of the Plan enumerated in Section 8.2 of the Plan were satisfied or waived in accordance with the Plan and the Confirmation Order, and the Effective Date of the Plan occurred.

https://cases.primeclerk.com/preit/Home-DownloadPDF?id1=MTc2NzE0MA==&id2=0

[scott456108]

Thank you sir, I did not know short inerest only came out mid month. What do you expect the stock price to do over the next 2 months. Premarket trading always seems to move the price up, I wonder if that has anything with people covering short positions, then settles back down.

[Enterprising Investor]

Pennsylvania Real Estate Investment Trust (PEI)

Short Interest Ratio (Days To Cover): 4.3

Short Percent of Float: 20.30 %

Short Interest (Shares Short): 13,290,000

Short Interest (Shares Short) - Prior: 16,400,000

Short Interest is reported mid-month.

The most recent data is 11/15/20.

[scott456108]

I am not that sophisticated with options, buy calls if I think a stock will go up. Don't mess with shorting in options or stocks. It sounds like you have a good plan though, got any price target before my options expire on Jan 15, is 2 possible? Do you know the short position or how I can find that current info for free. I usually seems like it is not real current when I find it.

[Enterprising Investor]

Expect the common stock price to pop again once the Plan is effective.

If I’m correct, I plan to write calls against a long position to lock in my profits and generate income over time as old contracts expire and new ones are written.

[Enterprising Investor]

The Debtors expect that the effective date of the Plan (as defined in the Plan, the “Effective Date”) will occur as soon as all conditions precedent to the Plan have been satisfied and on a date selected in consultation with the Requisite Consenting Lenders and Requisite Consenting Bridge Lenders. Although the Debtors are targeting occurrence of the Effective Date on or before December 6, 2020, the Debtors can make no assurances as to when, or ultimately if, the Plan will become effective. It is also possible that further technical amendments could be made to the Plan.

https://www.sec.gov/ix?doc=/Archives/edgar/data/77281/000119312520310736/d50993d8k.htm

[scott456108]

I wouldn't trust Senator Warren unless I was Native American LOL, I have some options on PEI going higher. Not sure about the current short position, but some of this is short covering, but there may be more squeeze left in that.I was really happy to see my calls get in the money, but like you not sure if I should hold til closer to expiration or take the profit now.

[SSTChicago]

Indeed

[Enterprising Investor]

PREIT's Prepackaged Financial Restructuring Plan Confirmed By Court

- Company Expects to Emerge from Chapter 11 in early December with Strengthened Balance Sheet and Enhanced Financial Flexibility (11/30/20)

- All Stakeholders to be Unimpaired and All Claims to be Paid in Full

- With holiday season in full swing, All PREIT Business Operations Continue Without Interruption

PHILADELPHIA, Nov. 30, 2020 /PRNewswire/ -- PREIT (NYSE: PEI), a leading operator of diverse retail and experiential destinations, today announced that the United States Bankruptcy Court for the District of Delaware (the "Court") has confirmed its prepackaged financial restructuring plan (the "Prepackaged Plan"). PREIT expects to complete its financial restructuring and successfully emerge from Chapter 11 in early December.

Upon emergence, PREIT will have access to $130 million of new financing to support its operations and the continued execution of its strategic priorities. In addition to recapitalizing the Company, PREIT's debt maturity schedule will be extended. The Company will be well-positioned to continue offering compelling retail and experiential destinations while prioritizing the health and safety of its employees, partners, customers and communities.

"We look forward to emerging from this process as a stronger, more innovative platform for our business partners," said Joseph F. Coradino, CEO of PREIT. "We were able to reach this outcome on an expedited basis thanks to the overwhelming support of our lenders, as well as the continued support of our employees, customers, tenants and vendors. We will remain focused on operating safely, responsibly and efficiently while maintaining a strong balance sheet."

Coradino continued, "I want to thank the entire PREIT team for continuing to perform at the highest level throughout this process during the busiest time of year for our business. We are proud that we have continued to deliver terrific experiences in the communities in which we operate and outstanding service for our retail partners throughout our financial restructuring process and the ongoing COVID-19 pandemic. PREIT properties play an essential role in the economy of the communities in which we operate, creating jobs, preserving tax revenue and ensuring the vitality of key focal points. We look forward to a brighter future for all PREIT stakeholders as we move forward as a financially stronger company."

Additional information, including court documents and information about the court-supervised process, is available on PREIT's restructuring website through PREIT's claims agent, Prime Clerk at https://cases.primeclerk.com/PREIT.

DLA Piper LLP (US) LLP and Wachtell, Lipton, Rosen & Katz are serving as legal counsel and PJT Partners LP is serving as financial advisor to PREIT.

About PREIT

PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages innovative properties at the forefront of shaping consumer experiences through the built environment. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in densely-populated, high barrier-to-entry markets with tremendous opportunity to create vibrant multi-use destinations. Additional information is available at www.preit.com or on Twitter or LinkedIn.

https://www.prnewswire.com/news-releases/preits-prepackaged-financial-restructuring-plan-confirmed-by-court-301181888.html

[ClayTrader]

* * $PEI Video Chart 11-24-2020 * *

Link to Video - click here to watch the technical chart video

[pappi]

Golly, EI, I'm the only common shareholder here watching serial 40% gain days go by. Pretty lonely. May have to come to a decision on doubling - sell half to recover cost shares, or let it ride. Set up a GTC order or trust contrarian instinct.

Maybe Senator Warren has a view?

-p

[pappi]

Yep. Success seems to be a function of a decent reorg plan, a certain amount of time, and prospects for the ongoing concern. See this paper on C11 topic, note the first author....caught me by surprise

we'll see. The upside survival prospect is what contrarians look for, I suppose.

-p

https://repository.law.umich.edu/cgi/viewcontent.cgi?article=1349&context=mlr#:~:text=Almost%20half%20the%20unsuccessful%20cases,seventy%20percent%20of%20the%20time.

[Enterprising Investor]

It is very rare when equity remains intact in a Chapter 11 case.

EI

[pappi]

Hey Enterpriser:
Thanks for the posts. I presume you're reporting good news, although I note you're preferred protected way more than this common shareholder.

up 45% yestday, 35% at the moment today. Nice.

Holding long term, although I'd sell cost shares at some point. After being underwater by half or more, kinda cool to be up 50% on cost in two days.

best,
- p