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PEI on NYSE

Pennsylvania Real Estate Investment Trust

Logo: PREIT, Public domain, via Wikimedia Commons5

U.S. real estate company

PREIT Realty (an initialism of its former name, Pennsylvania Real Estate Investment Trust) is a privately held company that owns and develops shopping centers, mostly in the Mid-Atlantic states.3 Its shares trade on NYSE under the symbol PEI.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1960Founded1

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  • TickerPEI on NYSE1
  • Industryreal estate investment trust1
  • HeadquartersPhiladelphia1
  • Websitewww.preit.com
  • Legal formpublic company1
  • Incorporated inPA6
  • Business addressOne Commerce Square, 2005 Market Street, Suite 1000, Philadelphia, Pa 191036
  • Filer categoryNon-accelerated filer, Smaller reporting company6
  • Kind of organizationFund1
  • LEI5493001GPBXRIG8WJO704
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressTHE BELLEVUE 200 S BROAD ST, 19102 Philadelphia, United States4
  • Registered withPennsylvania Department of State, 27776184

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PREIT Realty (an initialism of its former name, Pennsylvania Real Estate Investment Trust) is a privately held company that owns and develops shopping centers, mostly in the Mid-Atlantic states.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

-50.1%Net margin8
-0.1%Revenue growth, 20228

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • Other costs52¢$154.3M
  • Interest48¢$141.8M

Out of $296.0M in revenue.8 The company lost money this year.

Where each dollar of operating cash went, fiscal 2022

  • Kept or used elsewhere100¢$69.3M

Out of $69.3M of cash from operations.8

Financial statements

Revenue91011128$296.0M in 2022−26% since 2016
0$100.0M$200.0M$300.0M$400.0M2016: $399.9M$399.9M20162017: $367.5M$367.5M2017−8%2018: $362.4M$362.4M2018−1%2019: $336.8M$336.8M2019−7%2020: $261.8M$261.8M2020−22%2021: $296.4M$296.4M2021+13%2022: $296.0M$296.0M2022−0%
Net income91011128-$148.3M in 2022+1435% since 2016
-$300.0M-$200.0M-$100.0M02016: -$9.7M-$9.7M20162017: -$26.0M-$26.0M2017+169%2018: -$110.3M-$110.3M2018+325%2019: -$10.9M-$10.9M2019−90%2020: -$259.5M-$259.5M2020+2287%2021: -$132.7M-$132.7M2021−49%2022: -$148.3M-$148.3M2022+12%
Fiscal year2016201720182019202020212022
Revenue$399.9M9$367.5M10$362.4M10$336.8M11$261.8M12$296.4M8$296.0M8
Cost of revenue$156.2M9$140.3M9$141.2M9
Operating expenses$428.7M8$474.5M8
Interest$70.7M9$58.4M10$61.4M10$64.0M11$84.3M12$128.0M8$141.8M8
Income before tax-$132.3M12
Income tax$09$010$010$011$012$08$08
Net income-$9.7M9-$26.0M10-$110.3M10-$10.9M11-$259.5M12-$132.7M8-$148.3M8
Earnings per share-$30.568-$33.068
Earnings per share (diluted)-$30.568-$33.068
Shares (weighted, basic)5.2M shares85.3M shares8
Shares (weighted, diluted)5.2M shares85.3M shares8

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Corporate structure

Pennsylvania Real Estate Investment Trust sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Pennsylvania Real Estate Investment Trust

  • Saunders Family Trust dated 11/7/08 Filed SC 13D/A on Pennsylvania Real Estate Investment Trust, latest Jul 12, 2023 (3 filings since Feb 18, 2022)
  • Cygnus Capital, Inc. Filed SC 13D/A on Pennsylvania Real Estate Investment Trust, latest Jul 12, 2022 (6 filings since Feb 10, 2022)
  • Pennsylvania Real Estate Investment Trust Malvern, Pennsylvania, United States
    • The Mall at Prince Georges Owned · Hyattsville, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Pennsylvania Real Estate Investment Trust reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land and buildings$389.9M8 Dec 31, 2022$443.7M8 Dec 31, 2021−12.1%
Construction in progress$42.7M8 Dec 31, 2022$45.8M8 Dec 31, 2021−6.9%

Real estate and locations

ItemLatestA year beforeChange
Real estate investments, net$1.6B8 Dec 31, 2022$1.8B8 Dec 31, 2021−12.9%
Real estate investments, at cost$2.9B8 Dec 31, 2022$3.2B8 Dec 31, 2021−8.3%
Real estate accumulated depreciation$1.4B8 Dec 31, 2022$1.4B8 Dec 31, 2021−2.5%
Real estate properties238 Dec 31, 20222512 Dec 31, 2021−8.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$22.9M8 Dec 31, 2022$43.9M8 Dec 31, 2021−47.7%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$5.2M8 Dec 31, 2022$5.2M8 Dec 31, 20210%
Accumulated amortization$23.0M8 Dec 31, 2022$21.6M8 Dec 31, 2021+6.6%

Stakes and holdings (Wikidata)

  • The Mall at Prince Georges

Things Wikidata records the company as owning, with the share when stated.1

The story

The company was founded by Sylvan M. Cohen (1914-2001) in 1960 following the passage of the Real Estate Investment Trust Act, which allowed real estate trusts to access money from public investment. In 1997, the company acquired The Rubin Organization for $260 million, and founder and chief executive officer Ronald Rubin became CEO of PREIT. In 2003, the company acquired six shopping malls from The Rouse Company. The company also acquired Crown American.

In 2012, Joseph Coradino was named chief executive officer of the company.

The company filed for Chapter 11 bankruptcy protection on November 1, 2020, and exited bankruptcy protection on December 11, 2020.

On December 10, 2023, PREIT once again filed for Chapter 11 bankruptcy protection. The company exited its bankruptcy proceedings in April 2024 as a private company under the ownership of its former lenders and appointed Jared Chupaila as CEO.

In Spring 2026, PREIT announced a redesigned website via a LinkedIn post alongside a new logo and rebrand to PREIT Realty.

From Wikipedia’s article on PREIT, shared under CC BY-SA 4.0.7

Leadership

Who has led Pennsylvania Real Estate Investment Trust, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Ronald Rubin2006–2012
  2. Joseph F. Coradino2012–2024

Chair

  1. Ronald Rubin2006–2016

President

  1. Edward A. Glickman2006–2012
  2. Joseph F. Coradino2006–2012

Chief financial officer

  1. Robert F. McCadden2006–2019
  2. Mario C. Ventresca Jr.2020–2024

Chief operating officer

  1. Edward A. Glickman2006–2012
197019801990200020102020
Board members and other officers (33)

Products and brands

  • shopping center

Listed on Wikidata.1

Notable properties owned by PREIT are as follows:

From Wikipedia’s article on PREIT, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Also owns

  • The Mall at Prince Georges

From Wikidata.1

Timeline

  1. Apr 1, 20248-K Bankruptcy or receivership; Change to shareholders' rights; Executive or director change52
  2. Mar 19, 20248-K Entered a material agreement; Other events53
  3. Feb 20, 20248-K Entered a material agreement54
  4. Jan 29, 20248-K Bankruptcy or receivership55
  5. Dec 20, 20238-K Entered a material agreement56
  6. Dec 14, 20238-K Bankruptcy or receivership; Other events57
  7. Dec 11, 20238-K Entered a material agreement; Bankruptcy or receivership; Debt or obligation accelerated58
  8. Dec 7, 20238-K Entered a material agreement; New debt or obligation59
  9. Nov 14, 20238-K Results of operations60
  10. Nov 14, 20238-K Results of operations61
  11. Oct 3, 20238-K Entered a material agreement; New debt or obligation62
  12. Aug 3, 20238-K Results of operations63
  13. Sep 18, 2012New chief executive Joseph F. Coradino becomes CEO16
  14. Mar 14, 2006New chief executive Ronald Rubin becomes CEO17
  15. 1960Founded Founded1

Calendar

When it reported results

  1. Nov 14, 2023Reported quarterly or annual results60
  2. Nov 14, 2023Reported quarterly or annual results61
  3. Aug 3, 2023Reported quarterly or annual results63
  4. Aug 3, 2023Reported quarterly or annual results64
  5. May 4, 2023Reported quarterly or annual results65
  6. May 4, 2023Reported quarterly or annual results66
  7. Mar 22, 2023Reported quarterly or annual results67
  8. Mar 22, 2023Reported quarterly or annual results68

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

191 filings to the SEC since October 2021: 2 annual reports, 7 quarterly reports, 53 major events, 91 insider forms, 9 large holders, 29 other. The latest 20:

  1. Apr 3, 20244 EDGAR
  2. Apr 3, 20244 EDGAR
  3. Apr 3, 20244 EDGAR
  4. Apr 3, 20244 EDGAR
  5. Apr 3, 20244 EDGAR
  6. Apr 3, 20244 EDGAR
  7. Apr 3, 20244 EDGAR
  8. Apr 3, 20244 EDGAR
  9. Apr 3, 20244 EDGAR
  10. Apr 3, 20244 EDGAR
  11. Apr 3, 20244 EDGAR
  12. Apr 3, 20244 EDGAR
  13. Apr 3, 20244 EDGAR
  14. Apr 1, 202415-12G EDGAR
  15. Apr 1, 2024S-8 POS EDGAR
  16. Apr 1, 2024S-8 POS EDGAR
  17. Apr 1, 2024S-8 POS EDGAR
  18. Apr 1, 2024S-8 POS EDGAR
  19. Apr 1, 2024S-8 POS EDGAR
  20. Apr 1, 2024S-8 POS EDGAR

The 191 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

9 open-market trades by officers, directors and large owners since October 2021: 5 buys and 4 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 12, 2023Hart Kenneth B.DirectorSale3,020$1.27$3.8KForm 4
Sep 16, 2022Swann ChristopherDirectorBuy126,052$3.20$403.4KForm 4
Sep 15, 2022Swann ChristopherDirectorBuy28,000$3.35$93.8KForm 4
Sep 15, 2022Swann ChristopherDirectorSale158,479$3.34$529.3KForm 4
Sep 14, 2022Swann ChristopherDirectorBuy296,057$3.30$975.7KForm 4
Sep 14, 2022Swann ChristopherDirectorSale389,876$3.17$1.2MForm 4
May 16, 2022Aristone Joseph J.EVP - LeasingBuy5,000$0.52$2.6KForm 4
May 11, 2022CORADINO JOSEPH FChief Executive OfficerBuy10,000$0.39$3.9KForm 4
Dec 17, 2021DeMarco Michael J.DirectorSale100,000$1.03$103.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Pennsylvania Real Estate Investment Trust is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARPENNSYLVANIA REAL ESTATE INVESTMENT TRUST2
  • CIK0000077281
  • Employer ID (EIN)23-62163392
  • Filer statusNon-accelerated filer<br>smaller reporting company2
  • Incorporated inPennsylvania2
  • Fiscal year endsDecember 312
  • Industry code (SIC)6798 Real Estate Investment Trusts2
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance2
  • Business addressOne Commerce Square, 2005 Market Street, Suite 1000, Philadelphia, PA 191032
  • Phone21587504262
  • Shares outstanding5,340,996 as of Nov 10, 202314
  • Public float$17.4M as of Jun 30, 20228
  • On EDGAR sinceAug 15, 19942
  • Filings1,978 in all: 4 (924), 8-K (423), 10-Q (89), SC 13G/A (75), SC 13G (38), 10-K (29), DEF 14A (29), 424B3 (27)2
    All 46 form types

    S-3 (23), EFFECT (22), 3 (20), 425 (20), UPLOAD (20), 8-K/A (19), 4/A (17), ARS (16), 424B5 (15), DEFA14A (15), POS AM (15), 424B7 (14), SC 13D/A (14), CORRESP (13), S-8 (12), S-8 POS (12), S-3/A (11), 10-K/A (8), 8-A12B (7), 25-NSE (6), S-3ASR (6), 10-Q/A (5), CERTNYS (5), FWP (5), 144 (4), SC 13D (4), 8-A12B/A (3), 5 (2), RW (2), 10-QT (1), 15-12G (1), 25 (1), 424B1 (1), DEFS14A (1), NT 10-Q (1), PRE 14A (1), S-4 (1), S-4/A (1)

  • Latest filingsAnnual report (10-K) Mar 27, 2023
    Quarterly report (10-Q) Nov 14, 2023
    Proxy statement (DEF 14A) Apr 18, 2023
    Latest 8-K (8-K) Apr 1, 2024

Sources

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