PHILADELPHIA, Jan. 21, 2020 /PRNewswire/ -- PREIT (NYSE:
PEI) today announced that the tax status of the distributions paid
per share during 2019 is as follows:
COMMON
SHARES
|
IRS Form
1099-DIV
|
CUSIP: 709 102
107
|
2019
|
Box
1a
|
Long Term Capital
Gain
|
Box
3
|
Box
5
|
NYSE Ticker
Symbol: PEI
|
Box
2a
|
Box
2b
|
Record
|
Ex-Dividend
|
Payable
|
Total
|
Ordinary
|
Total
Capital
|
Unrecaptured
|
Nondividend
|
Section
199A
|
Date
|
Date
|
Date
|
Distribution
|
Dividends
|
Gain
Distribution
|
Sec.
1250
|
Distributions
|
Dividends
|
|
|
|
Per
Share
|
|
|
Gain
|
|
|
03/01/2019
|
02/28/2019
|
03/15/2019
|
$0.210000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.210000
|
$0.000000
|
06/03/2019
|
05/31/2019
|
06/17/2019
|
$0.210000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.210000
|
$0.000000
|
09/03/2019
|
08/30/2019
|
09/17/2019
|
$0.210000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.210000
|
$0.000000
|
12/02/2019
|
11/29/2019
|
12/16/2019
|
$0.210000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.210000
|
$0.000000
|
Totals for
2019
|
$0.840000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.840000
|
$0.000000
|
|
|
|
|
|
|
|
|
|
7.375% Series B -
PREFERRED SHARES
|
IRS Form
1099-DIV
|
CUSIP: 709 102
503
|
2019
|
Box
1a
|
Long Term Capital
Gain
|
Box
3
|
Box
5
|
NYSE Ticker
Symbol: PEIPrB
|
Box
2a
|
Box
2b
|
Record
|
Ex-Dividend
|
Payable
|
Total
|
Ordinary
|
Total
Capital
|
Unrecaptured
|
Nondividend
|
Section
199A
|
Date
|
Date
|
Date
|
Distribution
|
Dividends
|
Gain
Distribution
|
Sec.
1250
|
Distributions
|
Dividends
|
|
|
|
Per
Share
|
|
|
Gain
|
|
|
03/01/2019
|
02/28/2019
|
03/15/2019
|
$0.460938
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.460938
|
$0.000000
|
06/03/2019
|
05/31/2019
|
06/17/2019
|
$0.460938
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.460938
|
$0.000000
|
09/03/2019
|
08/30/2019
|
09/17/2019
|
$0.460938
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.460938
|
$0.000000
|
12/02/2019
|
11/29/2019
|
12/16/2019
|
$0.460938
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.460938
|
$0.000000
|
Totals for
2019
|
$1.843752
|
$0.000000
|
$0.000000
|
$0.000000
|
$1.843752
|
$0.000000
|
|
|
|
|
|
|
|
|
|
7.200% Series C -
PREFERRED SHARES
|
IRS Form
1099-DIV
|
CUSIP: 709 102
602
|
2019
|
Box
1a
|
Long Term Capital
Gain
|
Box
3
|
Box
5
|
NYSE Ticker
Symbol: PEIPrC
|
Box
2a
|
Box
2b
|
Record
|
Ex-Dividend
|
Payable
|
Total
|
Ordinary
|
Total
Capital
|
Unrecaptured
|
Nondividend
|
Section
199A
|
Date
|
Date
|
Date
|
Distribution
|
Dividends
|
Gain
Distribution
|
Sec.
1250
|
Distributions
|
Dividends
|
|
|
|
Per
Share
|
|
|
Gain
|
|
|
03/01/2019
|
02/28/2019
|
03/15/2019
|
$0.450000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.450000
|
$0.000000
|
06/03/2019
|
05/31/2019
|
06/17/2019
|
$0.450000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.450000
|
$0.000000
|
09/03/2019
|
08/30/2019
|
09/17/2019
|
$0.450000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.450000
|
$0.000000
|
12/02/2019
|
11/29/2019
|
12/16/2019
|
$0.450000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.450000
|
$0.000000
|
Totals for
2019
|
$1.800000
|
$0.000000
|
$0.000000
|
$0.000000
|
$1.800000
|
$0.000000
|
|
|
|
|
|
|
|
|
|
6.875% Series D -
PREFERRED SHARES
|
IRS Form
1099-DIV
|
CUSIP: 709 102
701
|
2019
|
Box
1a
|
Long Term Capital
Gain
|
Box
3
|
Box
5
|
NYSE Ticker
Symbol: PEIPrD
|
Box
2a
|
Box
2b
|
Record
|
Ex-Dividend
|
Payable
|
Total
|
Ordinary
|
Total
Capital
|
Unrecaptured
|
Nondividend
|
Section
199A
|
Date
|
Date
|
Date
|
Distribution
|
Dividends
|
Gain
Distribution
|
Sec.
1250
|
Distributions
|
Dividends
|
|
|
|
Per
Share
|
|
|
Gain
|
|
|
03/01/2019
|
02/28/2019
|
03/15/2019
|
$0.429688
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.429688
|
$0.000000
|
06/03/2019
|
05/31/2019
|
06/17/2019
|
$0.429688
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.429688
|
$0.000000
|
09/03/2019
|
08/30/2019
|
09/17/2019
|
$0.429688
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.429688
|
$0.000000
|
12/02/2019
|
11/29/2019
|
12/16/2019
|
$0.429688
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.429688
|
$0.000000
|
Totals for
2019
|
$1.718752
|
$0.000000
|
$0.000000
|
$0.000000
|
$1.718752
|
$0.000000
|
The above reflects the total amounts of distributions paid by
PREIT on its outstanding common shares and its Series B, Series C
and Series D Preferred shares during 2019, which will be reported
on IRS Form 1099-DIV. Shareholders are required to include these
amounts on their Federal income tax returns and are encouraged to
consult with their tax advisors.
This release is based on the preliminary results of work on the
Company's tax filings and is subject to correction or adjustment
when the filings are completed. The Company is releasing
information at this time to aid those required to distribute Forms
1099 on the Company's distributions. No material change in these
classifications is expected.
Information about distributions paid for common and preferred
shares can also be found at the website of the National Association
of Real Estate Investment Trusts (NAREIT), www.reit.com, or by
contacting NAREIT by phone at (800) 3-NAREIT or (800-362-7348).
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
contains certain forward-looking statements that can be identified
by the use of words such as "anticipate," "believe," "estimate,"
"expect," "project," "intend," "may" or similar expressions.
Forward-looking statements relate to expectations, beliefs,
projections, future plans, strategies, anticipated events, trends
and other matters that are not historical facts. 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 changes in the retail and real estate industries, including
consolidation and store closings, particularly among anchor
tenants; current economic conditions and the corresponding effects
on tenant business performance, prospects, solvency and leasing
decisions; our inability to collect rent due to the bankruptcy or
insolvency of tenants or otherwise; our ability to maintain and
increase property occupancy, sales and rental rates; increases in
operating costs that cannot be passed on to tenants; the effects of
online shopping and other uses of technology on our retail tenants;
risks related to our development and redevelopment activities,
including delays, cost overruns and our inability to reach
projected occupancy or rental rates; acts of violence at malls,
including our properties, or at other similar spaces, and the
potential effect on traffic and sales; 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, including losses that we
might be required to record in connection with any disposition of
assets; our substantial debt and the liquidation preference of our
preferred shares and our high leverage ratio; our ability to
refinance our existing indebtedness when it matures, on favorable
terms or at all; our ability to raise capital, including through
sales of properties or interests in properties and through the
issuance of equity or equity-related securities if market
conditions are favorable; and potential dilution from any capital
raising transactions or other equity issuances.
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, 2019 in the section entitled "Item
1A. Risk Factors", our Quarterly Reports on Form 10-Q for the
quarterly periods ended June 30, 2019
and September 30, 2019 in the section
entitled "Item 1A. Risk Factors" and any subsequent reports we may
file with the Securities and Exchange Commission. We do not intend
to update or revise any forward-looking statements to reflect new
information, future events or otherwise.
CONTACT:
Heather
Crowell
EVP, Strategy and Communications
(215) 454-1241
heather.crowell@preit.com
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SOURCE PREIT