Though the stock trades at a 27% discount to his estimated NAV (assumes a 7.25% cap rate) and portfolio fundamentals are improving, Stifel's Nathan Isbee cuts the stock to Hold from Buy following this week's announcement of the Springfield Town Center acquisition. PEI is paying "full price," says
the completion of the redevelopment of Springfield (VA) Town Center, Vornado ( VNO ) will transfer ownership to Pennsylvania REIT ( PEI ) in exchange for $340M in cash and $125M of PREIT operating partnership units. Don't call it a sale
We are no longer providing equity research on Pennsylvania REIT PEI. We provide broad coverage of more than 1,700 companies and adjust our coverage as necessary based on client demand and investor interest.
shareholders, in our opinion.Founded in 1960, Pennsylvania REIT is one of the oldest real estate investment trusts ..... over the next few years that must be refinanced. Pennsylvania REIT is highly leveraged and has a large development pipeline
We are placing our fair value estimate for Pennsylvania REIT PEI under review as we reassess our existing assumptions.
The firm is also focused on refinancing its near-term debt maturities through negotiations with its creditors. Pennsylvania REIT is highly leveraged and has a large development pipeline, two unattractive characteristics in the current economic
We are placing our fair value estimate for Pennsylvania REIT PEI under review as we transfer coverage to a new analyst.
Given the recent runup in the share prices, we think it would be prudent for some--including Macerich MAC and Pennsylvania REIT PEI--to consider issuing equity to deleverage their overstretched balance sheets.
We are placing our analysis of Pennsylvania REIT PEI under review while we transfer coverage to a new analyst.
investment trusts Kimco KIM, Macerich Company MAC, and Pennsylvania REIT PEI to high from medium and General Growth Properties ..... remains challenging. Our analyses for Macerich, Pennsylvania REIT , and General Growth Properties remain under review