PHILADELPHIA, Jan. 18, 2018 /PRNewswire/ -- Pennsylvania
Real Estate Investment Trust (PREIT/NYSE: PEI) intends to release
its financial results for the quarter ending December 31, 2017 after market trading closes on
Wednesday, February 14,
2018.
Management has scheduled a conference call for 11:00 a.m. Eastern Time on Thursday,
February 15, 2018, to review the Company's results and future
outlook. To listen to the call, please dial 1-866-393-4306
(domestic toll free), or 1-734-385-2616 (international), and
request to join the PREIT call, Conference ID 1081847, at least
five minutes before the scheduled start time. Investors can
also access the call in a "listen only" mode via the internet at
the Company's website, preit.com. Please allow extra time
prior to the call to visit the site and download the necessary
software to listen to the Internet broadcast. Financial and
statistical information expected to be discussed on the call will
also be available on the Company's website. For best results when
listening to the webcast, the Company recommends using Flash
Player.
For interested individuals unable to join the conference call,
the online archive of the webcast will also be available for one
year following the call.
About PREIT
PREIT (NYSE:PEI) is a publicly traded real estate investment
trust that owns and manages quality properties in compelling
markets. PREIT's robust portfolio of carefully curated retail
and lifestyle offerings mixed with destination dining and
entertainment experiences are located primarily in the
densely-populated eastern U.S. with concentrations in the
mid-Atlantic's top MSAs. Since 2012, the Company has driven a
transformation guided by an emphasis on portfolio quality and
balance sheet strength driven by disciplined capital expenditures.
Additional information is available at www.preit.com or on Twitter
or LinkedIn.
Forward-Looking Statements
This press release, together with other statements and
information publicly disseminated by us, contain certain
"forward-looking statements" within the meaning of the federal
securities laws. Forward-looking statements relate to expectations,
beliefs, projections, future plans, strategies, anticipated events,
trends and other matters that are not historical facts. When used,
the words "anticipate," "believe," "estimate," "target," "goal,"
"expect," "intend," "may," "plan," "project," "result," "should,"
"will," and similar expressions, which do not relate solely to
historical matters, are intended to identify forward looking
statements. We caution investors that any forward looking
statements presented in this presentation and the documents that we
may incorporate by reference into this document are based on
management's beliefs and assumptions made by, and currently
available to management. These forward-looking statements reflect
our current views about future events, achievements or results and
are subject to risks, uncertainties and changes in circumstances
that might cause future events, achievements or results to differ
materially from those expressed or implied by the forward-looking
statements. In particular, our business might be materially and
adversely affected by uncertainties affecting real estate
businesses generally as well as the following, among other factors:
changes in the retail and real estate industries, including
consolidation and store closings, particularly among anchor
tenants; our ability to maintain and increase property occupancy,
sales and rental rates, in light of the relatively high number of
leases that have expired or are expiring in the next two years;
increases in operating costs that cannot be passed on to
tenants; current economic conditions and the state of employment
growth and consumer confidence and spending, and the corresponding
effects on tenant business performance, prospects, solvency and
leasing decisions and on our cash flows, and the value and
potential impairment of our properties; the effects of online
shopping and other uses of technology on our retail tenants;
risks related to our development and redevelopment
activities; acts of violence at malls, including our properties, or
at other similar spaces, and the potential effect on traffic and
sales; our ability to identify and execute on suitable acquisition
opportunities and to integrate acquired properties into our
portfolio; our partnerships and joint ventures with third parties
to acquire or develop properties; concentration of our properties
in the Mid-Atlantic region; changes in local market conditions,
such as the supply of or demand for retail space, or other
competitive factors; changes to our corporate management team and
any resulting modifications to our business strategies; our ability
to sell properties that we seek to dispose of or our ability to
obtain prices we seek; potential losses on impairment of certain
long-lived assets, such as real estate, or of intangible assets,
such as goodwill, including such losses that we might be required
to record in connection with any dispositions of assets; our
substantial debt and liquidation preference of our preferred shares
and our high leverage ratio; constraining leverage, unencumbered
debt yield, interest and tangible net worth covenants under our
principal credit agreements; our ability to refinance our existing
indebtedness when it matures, on favorable terms or at all; our
ability to raise capital, including through joint ventures or other
partnerships, through sales of properties or interests in
properties, through the issuance of equity or equity-related
securities if market conditions are favorable, or through other
actions; our short- and long-term liquidity position; potential
dilution from any capital raising transactions or other equity
issuances; and general economic, financial and political
conditions, including credit and capital market conditions, changes
in interest rates or unemployment.
Additional factors that might cause future events, achievements
or results to differ materially from those expressed or implied by
our forward-looking statements include those discussed herein and
in our Annual Report on Form 10-K for the year ended
December 31, 2016 in the section entitled "Item 1A. Risk
Factors." We do not intend to update or revise any forward-looking
statements to reflect new information, future events or
otherwise.
CONTACT: AT THE COMPANY
Heather Crowell
SVP, Corporate Communications and Investor Relations
(215) 454-1241
Heather.crowell@preit.com
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SOURCE PREIT