PREIT (PEI) Reports Q4 Loss of $1.23, Revenues Beat; Offers FY19 EPS Mid-Point Guidance Below Consensus

PREIT (NYSE: PEI) reported Q4 EPS of ($1.23), versus $0.03 reported last year. Revenue for the quarter came in at $96.04 million versus the consensus estimate of $59.51 million.

"Our disciplined approach to low-productivity asset sales and proactive department store repositioning along with tenant diversification has resulted in a quality portfolio with densification opportunities," said Joseph F. Coradino, CEO of PREIT. "The work we're doing in this milestone-marked year as we complete many of the anchor and redevelopment projects underway sets the stage for a stronger Company in 2020 and beyond. The early results from this effort are evident with core portfolio sales reaching $510 per square foot and traffic up 5% during the holidays at properties that have undergone remerchandising, paving the way for a solid NOI growth forecast despite a rapidly changing environment.

GUIDANCE:

PREIT sees FY2019 EPS of ($0.55)-($0.40), versus the consensus of ($0.41).

For earnings history and earnings-related data on PREIT (PEI) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Pro Diversity Network (IPDN) Reports Q2 Loss of $0.15
• SVB & T Corporation (SVBT) Tops Q2 EPS by 275c