News: Pennsylvania Real Estate Investment Trust

Shares of Pennsylvania Real Estate Investment Trust (PREIT), which owns the Cherry Hill, Willow Grove, Gallery, Plymouth Meeting and Exton malls, among others, were down 3 percent to $7.21 a share in mid-afternoon trading after the Philadelphia-based firm reported a small decline in income and profitability for the three months

A local organization is joining with local malls to get musical instruments to kids who need them. The instruments are being collected at several malls managed by the Pennsylvania Real Estate Investment Trust. participating malls: Exton Square Mall, Plymouth Meeting Mall, The Gallery at Market East, Willow Grove Park, Cherry Hill, Moorestown.

Pennsylvania Real Estate Investment Trust’s head executive was candid about a number of industry topics recently at NAREIT’s REITWeek in New York City, including the fate of two competitors, Simon Property Group and General Growth Properties. “It would be a logical conclusion that they are looking at General Growth,” Ronald Rubin...

Jonathan D. Miniman, senior analyst at ING Clarion Real Estate Securities, adds his comments following PhillyDeals' Sunday column about the #2 mall chain General Growth Properties' Chapter 11 bankruptcy and local Pennsylvania Real Estate Investment Trust's prospects:

Wyoming Valley Mall in Pennsylvania is fighting to reinvent itself amid the toughest climate for retailers in decades. WVM was built in 1971, sales measured on a per-square-foot basis, were up 1.7% in the fourth quarter compared to the year-ago period but flattened in the 3rd quarter. Owner Pennsylvania Real Estate Investment Investment Trust...

Rumor has it that Pennsylvania Real Estate Investment Trust (PEI) received a buyout offer by LaSalle Investment Management. PEI shares gained 7.6 percent on the news.