PEI^D Pennsylvania Real Estate Investment Trust
Pennsylvania Real Estate Investment Trust engages in the ownership, management, leasing, acquisition, redevelopment, and disposition of shopping malls. The firm focuses on shopping malls located in the eastern half of the U.S. primarily in the Mid-Atlantic region. Its property portfolio includes Cherry Hill Mall, Plymouth Meeting Mall, Mall at Prince Georges, and Springfield Town Center. The company was founded by Sylvan M. Cohen in 1960 and is headquartered in Philadelphia, PA.
Company profile
Ticker
PEI^D
Exchange
Website
CEO
Joseph F. Coradino
Employees
Incorporated in
Location
Fiscal year end
Sector
Industry (SEC)
SEC CIK
Corporate docs
IRS number
236216339
PEI^D stock data
()
Calendar
21 May 20
11 Jul 20
31 Dec 20
News
Company financial data Financial data
| Quarter (USD) | Mar 20 | Dec 19 | Sep 19 | Jun 19 | |
|---|---|---|---|---|---|
| Revenue | 74.24M | 88.72M | 81.37M | 81.39M | |
| Net income | -13.55M | -15.41M | 24.72M | -6.08M | |
| Diluted EPS | -0.26 | -0.29 | 0.22 | -0.17 | |
| Net profit margin | -18.25% | -17.37% | 30.37% | -7.47% | |
| Net change in cash | -6.86M | 502K | -3.52M | 4.81M | |
| Cash on hand | 5.35M | 12.21M | 11.71M | 15.23M | |
| Cost of revenue | 33.76M |
| Annual (USD) | Dec 19 | Dec 18 | Dec 17 | Dec 16 | |
|---|---|---|---|---|---|
| Revenue | 336.79M | 362.4M | 367.49M | 399.95M | |
| Net income | -13M | -126.5M | -32.85M | -12.71M | |
| Diluted EPS | -0.52 | -1.98 | -0.84 | -0.4 | |
| Net profit margin | -3.86% | -34.91% | -8.94% | -3.18% | |
| Operating income* | -76.89M | 157K | 44.89M | ||
| Net change in cash | -5.87M | 2.74M | 5.55M | -13.05M | |
| Cash on hand | 12.21M | 18.08M | 15.35M | 9.8M | |
| Cost of revenue | 141.23M | 140.31M | 156.22M |
Financial data from company earnings reports. *Asterisk values are approximate.
Recent insider trades
| Date | Owner | Security | Transaction | Code | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|
| 17 Jun 20 | Coradino Joseph F | Shares of Beneficial Interest, par value $1.00 per share | Other | Dispose J | No | 0 | 8,117 | 0 | 862,646 |
| 29 May 20 | Alburger George J JR | Shares of Beneficial Interest, par value $1.00 per share | Grant | Aquire A | No | 0 | 102,222 | 0 | 152,630 |
| 29 May 20 | Epps JoAnne A. | Shares of Beneficial Interest, par value $1.00 per share | Grant | Aquire A | No | 0 | 102,222 | 0 | 130,436 |
| 29 May 20 | Pizzi Charles P | Shares of Beneficial Interest, par value $1.00 per share | Grant | Aquire A | No | 0 | 102,222 | 0 | 160,681 |
| 29 May 20 | Roberts John Joseph | Shares of Beneficial Interest, par value $1.00 per share | Grant | Aquire A | No | 0 | 102,222 | 0 | 191,465 |
Institutional ownership Q1 2020
59.8% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 143 |
| Opened positions | 143 |
| Closed positions | 3 |
| Increased positions | 0 |
| Reduced positions | 0 |
13F shares |
Current |
|---|---|
| Total value | 401.24M |
| Total shares | 47.13M |
| Total puts | 799.3K |
| Total calls | 429.4K |
| Total put/call ratio | 1.9 |
Largest owners |
Shares | Value |
|---|---|---|
| Vanguard | 10.58M | $9.65M |
| BLK BlackRock | 10.17M | $9.27M |
| IVZ Invesco | 3.61M | $3.29M |
| STT State Street | 3.05M | $2.78M |
| BK Bank Of New York Mellon | 1.47M | $1.34M |
| Geode Capital Management | 1.16M | $1.06M |
| Psagot Investment House | 1.13M | $1.03M |
| Dimensional Fund Advisors | 1M | $915K |
| NTRS Northern Trust | 960.91K | $877K |
| Charles Schwab Investment Management | 840.98K | $767K |
Financial report summary
?Risks
- If we are unable to comply with the covenants in our Credit Agreements, we will be adversely affected.
Management Discussion
- Net loss for the three months ended March 31, 2020 was $13.5 million compared to a net loss of $16.2 million for the three months ended March 31, 2019. This $2.7 million decrease was primarily due to: (a) non-recurring items recorded in the prior year including a loss on debt extinguishment of $4.8 million and an asset impairment charge of $1.5 million on an undeveloped land parcel both of which had a favorable impact on the current year; (b) a decrease in depreciation and amortization of $4.6 million in the current period; and (c) a gain on the sale of real estate of $2.0 million recorded in the three months ended March 31, 2020; partially offset by a $10.7 million decrease in real estate revenue as described below. See “—Real Estate Revenue.”
Content analysis
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H.S. senior Avg
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New words:
adhering, advice, age, Aid, Ale, allotted, AMC, Amusement, analyze, articulated, assist, Award, backup, behavior, Bowling, buildout, Burlington, cable, capacity, Century, certainty, Cherry, clarify, closure, compensatory, concession, correlation, counsel, court, creation, Cumulative, customer, daily, deadline, deferral, delinquent, Dick, diligence, disease, dismissal, distancing, diversion, dividend, dividing, doubt, downtown, Edge, effort, eligibility, eligible, enclosed, enforce, enforceable, equal, evolve, evolving, exacerbate, exacerbated, exacerbation, explore, Fargo, fill, flagship, flexibility, food, forecasted, forgiven, framework, fulfill, furloughed, global, globally, governmental, Grand, group, grow, Hagerstown, health, highly, inception, infected, intent, Jersey, Joining, Jr, landlord, led, lending, length, Letter, lifted, light, listed, Lord, magnitude, Mario, Maryland, Maur, Michael, Michigan, Miller, minimize, model, modification, month, move, multi, Nike, Onelife, Organization, outage, outbreak, pandemic, party, Paycheck, payroll, people, Perpetual, PPP, product, protracted, purpose, pursue, rapidly, recycle, redeploy, regularly, reliance, remote, remotely, repurchase, resolve, resume, Round, safety, sanitation, SBA, scope, senior, Sierra, Simultaneously, slightly, Small, social, solution, spanning, Sporting, state, stay, step, supply, suspend, suspension, Taylor, team, temporarily, thereunder, thousand, trailing, trajectory, travel, Treasury, Ulta, unconditional, underground, undrawn, unknown, unprecedented, unrealized, unrestricted, Urban, vacancy, vacant, Ventresca, volatility, voltage, Von, waiver, widespread, Winery, World, written
Removed:
amortize, antidilutive, ascribed, benchmark, classification, component, condominium, Cumberland, deed, demand, derecognized, expensing, expired, facilitate, FASB, feature, foreclosure, Garden, housing, impaired, implemented, Inclusion, Index, lessor, lieu, OIS, package, pattern, prospectively, recaptured, ROU, separate, stipulated, sweep, Township, tradeable, transferred, unused, Viewmont
Financial reports
10-Q
2020 Q1
Quarterly report
21 May 20
10-K
2019 FY
Annual report
16 Mar 20
10-Q
2019 Q3
Quarterly report
4 Nov 19
10-Q
2019 Q2
Quarterly report
2 Aug 19
10-Q
2019 Q1
Quarterly report
7 May 19
10-K/A
2018 FY
Annual report (amended)
28 Mar 19
10-K
2018 FY
Annual report
25 Feb 19
10-Q
2018 Q3
Quarterly report
1 Nov 18
10-Q
2018 Q2
Quarterly report
3 Aug 18
10-Q
2018 Q1
Quarterly report
4 May 18
Current reports
8-K
Departure of Directors or Certain Officers
28 May 20
8-K
Results of Operations and Financial Condition
21 May 20
8-K
EVP, Strategy and Communications
21 May 20
8-K
Other Events
11 May 20
8-K
Entry into a Material Definitive Agreement
7 May 20
8-K
Entry into a Material Definitive Agreement
31 Mar 20
8-K/A
Departure of Directors or Certain Officers
9 Mar 20
8-K
Departure of Directors or Certain Officers
28 Feb 20
8-K
Results of Operations and Financial Condition
27 Feb 20
8-K
EVP, Strategy and Communications
26 Feb 20
Registration and prospectus
S-8
Registration of securities for employees
29 May 20
424B3
Prospectus supplement
9 Jan 20
S-3
Shelf registration
20 Dec 19
S-3
Shelf registration
20 Dec 19
S-8
Registration of securities for employees
1 Jun 18
S-8
Registration of securities for employees
1 Jun 18
424B3
Prospectus supplement
2 Apr 18
S-3ASR
Automatic shelf registration
20 Dec 17
S-3ASR
Automatic shelf registration
20 Dec 17
25-NSE
Exchange delisting
12 Oct 17
Proxies
DEFA14A
Additional proxy soliciting materials
17 Apr 20
DEF 14A
Definitive proxy
17 Apr 20
DEFA14A
Additional proxy soliciting materials
18 Apr 19
DEF 14A
Definitive proxy
18 Apr 19
DEF 14A
Definitive proxy
20 Apr 18
DEFA14A
Additional proxy soliciting materials
20 Apr 18
DEF 14A
Definitive proxy
25 Apr 17
DEF 14A
Definitive proxy
20 Apr 16
DEF 14A
Definitive proxy
23 Apr 15
DEF 14A
Definitive proxy
22 Apr 14
Other
EFFECT
Notice of effectiveness
10 Jan 20
EFFECT
Notice of effectiveness
10 Jan 20
CORRESP
Correspondence with SEC
7 Jan 20
CORRESP
Correspondence with SEC
7 Jan 20
UPLOAD
Letter from SEC
15 May 18
CORRESP
Correspondence with SEC
4 May 18
UPLOAD
Letter from SEC
27 Apr 18
CERTNYS
Certification of approval for NYSE listing
11 Sep 17
CERTNYS
Certification of approval for NYSE listing
27 Jan 17
UPLOAD
Letter from SEC
29 Sep 15
Ownership
SC 13G/A
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST / Invesco ownership change
10 Jul 20
4
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST / JOSEPH F CORADINO ownership change
18 Jun 20
4
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST / Michael J. DeMarco ownership change
2 Jun 20
4
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST / MARK E PASQUERILLA ownership change
2 Jun 20
4
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST / JOHN JOSEPH ROBERTS ownership change
2 Jun 20
4
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST / CHARLES P PIZZI ownership change
2 Jun 20
4
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST / JoAnne A. Epps ownership change
2 Jun 20
4
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST / GEORGE J ALBURGER JR ownership change
2 Jun 20
SC 13G
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST / Invesco ownership change
11 May 20
4
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST / Mario C. Jr. Ventresca ownership change
27 Feb 20