PREIT (PEI) Tops Q1 FFO by 1c

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PREIT Reports First Quarter 2015 Results

April 28, 2015 4:15 PM EDT

PHILADELPHIA, April 28, 2015 /PRNewswire/ -- PREIT (NYSE: PEI) today reported results for the quarter ended March 31, 2015.

On March 31st, the Company closed on the acquisition of Springfield Town Center in Fairfax County, Virginia Comp store sales grew 9.8% to a record-high $414 per square foot with nearly twice as many malls reporting sales over $400 per square foot as a year ago Same Store NOI grew by 6.0% Same Store NOI excluding lease termination revenue grew by 5.6% Average gross rent at Same Store mall properties increased... More