PHILADELPHIA, Feb. 3, 2020 /PRNewswire/ -- Pennsylvania Real
Estate Investment Trust (PREIT/NYSE: PEI) intends to release its
financial results for the quarter ending December 31, 2019 after market trading closes on
Tuesday, February 25, 2020.
Management has scheduled a conference call for 11:00 a.m. Eastern Time on Wednesday,
February 26, 2020, to review the Company's results and future
outlook. To listen to the call, please dial 1-844-885-9139
(domestic toll free), or 1-647-689-4441 (international), and
request to join the PREIT call, Conference ID 7187207, 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 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 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; 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,
2018 in the section entitled "Item 1A. Risk Factors" and our
Quarterly Report on Form 10-Q for the quarterly period ended
September 30, 2019 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
EVP – Strategy and Communications
(215) 454-1241
Heather.crowell@preit.com
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SOURCE PREIT