PREIT Reports Third Quarter 2019 Results and Updates Full Year Expectations
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PREIT (PEI) Tops Q3 EPS by 27c, Revenues Miss
October 29, 2019 4:50 PM EDTPREIT (NYSE: PEI) reported Q3 EPS of $0.22, $0.27 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $81.37 million versus the consensus estimate of $84 million.
"PREIT's 2019 performance has been impacted by a challenging backdrop resulting from major bankruptcies, including Charlotte Russe, Forever 21 and others, as well as anchor downtime. At the same time, we opened transformative projects - Fashion District, which has welcomed over a million visitors thus far, along with Woodland and Plymouth Meeting Malls, where traffic is up 40% and 23%, respectively, since opening. We are very pleased with early... More
