PREIT (PEI) Reports Q1 Loss of $0.64, Revenues Miss

PREIT (NYSE: PEI) reported Q1 EPS of ($0.64), versus ($0.26) reported last year. Revenue for the quarter came in at $65.4 million versus the consensus estimate of $68 million.

"The brick and mortar recovery is gaining momentum and we believe our portfolio is poised to capitalize on this momentum. The foundation we have created with a portfolio of properties in high barrier-to-entry markets that accommodate a broad array of uses as well as properties that have won the in-market competitive battle for the consumer are seeing strong results as the rebound continues," said Joseph F. Coradino, Chairman and CEO of PREIT. "Traffic is improving across the portfolio with retailers posting strong sales in March, which has led to improved collections, increased liquidity and vigorous tenant demand creating a robust pipeline of leasing activity."

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

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