Pennsylvania Real Estate Investment Trust

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Debt Financing / Related, Earnings Announcements

PREIT Provides Liquidity And Business Update

Published: 10/01/2020 11:13 GMT
Pennsylvania Real Estate Investment Trust (PEI) - Preit Provides Liquidity and Business Update.
Preit - Secures One-month Extension and Flexibility for $25 Million.
Preit - Discussions Ongoing Regarding Comprehensive Financial Restructuring.
Preit - Cash Receipts Total 108% of Monthly Billing for September.
Preit - As of Sept.
30, Preit Had Cash Receipts Representing 67% of Billed Q2 and Q3 2020 Rents.
Preit - Portfolio is Fully Operational and Substantially Re-occupied, With 4% of Tenants Failing to Re-open Following Pandemic-related Closures.
Preit - Reached a Short-term Agreement to Extend Covenant Relief Period.
Revenue is expected to be $59.84 Million
Adjusted EPS is expected to be -$0.36

Next Quarter Revenue Guidance is expected to be $62.25 Million
Next Quarter EPS Guidance is expected to be -$0.30

More details on our Analysts Page.