PREIT Schedules Fourth Quarter 2020 Earnings Release and Conference Call | News – About Your Online Magazine


PHILADELPHIA, February 25, 2021 / PRNewswire / – PREIT (NYSE: PEI) intends to release its financial results for the end of the quarter December 31, 2020 after the closing of market trading in Thursday, March 11, 2021. As previously announced, and due to COVID-19, the Company withdrew its guidance for the year 2020 issued in February 25, 2020.

Management has scheduled a conference call to 11:00 Eastern Time on Friday March 12, 2021, to review the Company’s results and future perspectives. To hear the call, dial 1-844-885-9139 (national toll-free), or 1-647-689-4441 (international) and request to join the PREIT call, Conference ID 4671799, at least fifteen minutes before the scheduled start time, as callers may experience delays. Investors can also access the conference call in the “listen only” mode, via the Internet, on the Company’s website, preit.com. Take extra time before calling to visit the website and download the software needed to listen to the Internet broadcast. The financial and statistical information to be discussed in the conference call will also be available on the Company’s website.

For those interested who cannot participate in the conference call, the online webcast archive will also be available for one year after the conference call.

About PREIT

PREIT (NYSE: PEI) is a publicly traded real estate investment fund (REIT) that owns and manages differentiated properties in high barrier markets at the forefront of empowering communities through the built environment. PREIT’s robust portfolio of carefully selected retail and lifestyle offerings, combined with dining and entertainment experiences in tourist destinations, is located mainly in densely populated markets and with high barriers to entry, with tremendous opportunity to create vibrant multipurpose destinations. Additional information is available at preit.com or in Twitter or LinkedIn.

Forward-Looking Statements

This press release contains certain forward-looking statements that can be identified by using words such as “anticipate”, “believe”, “estimate”, “wait”, “project”, “intend”, “may” or similar expressions. Forward-looking statements relate to expectations, beliefs, projections, future plans, strategies, anticipated events, trends and other matters that are not historical facts. These forward-looking statements reflect our current expectations and assumptions about our business, the economy and other future events and conditions and are based on the currently available financial, economic and competitive data and our current business plans. Actual results may vary materially depending on the risks, uncertainties and changes in circumstances that may affect our operations, markets, services, prices and other factors, as discussed in the Risk Factors section of our other files with the Securities and Exchange Commission. While we believe our assumptions to be reasonable, we caution you against relying on any forward-looking statements, as it is very difficult to predict the impact of known factors and it is impossible for us to predict all factors that could affect our actual results. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, our ability to achieve our projected revenue and pro forma leverage ratio and generate free cash flow to further reduce our indebtedness; our ability to manage our business through the impacts of the COVID-19 pandemic, a weakening of global economic and financial conditions, changes in government regulations and related compliance and litigation costs and other factors listed in our SEC filings. In addition, our business may be adversely and materially affected by changes in the retail and real estate sectors, including consolidation and closing of stores, especially among anchor tenants; current economic conditions, including the impact of the COVID-19 pandemic and measures taken by government officials and other third parties to reduce its spread, and the corresponding effects on tenants’ business performance, prospects, solvency and lease decisions; our inability to collect rent due to tenants’ bankruptcy or insolvency or otherwise; our ability to maintain and increase property occupancy, sales and rental rates; increases in operating costs that cannot be passed on to tenants; the effects of online shopping and other uses of technology on our tenants; risks related to our development and redevelopment activities, including delays, cost overruns and our inability to meet projected occupancy or rent rates; acts of violence in shopping malls, including our properties, or other similar spaces, and the potential effect on traffic and sales; our ability to sell properties that we seek to dispose of or our ability to obtain the prices that we seek; our substantial debt and the preference to settle our preferred shares and our high leverage ratio and our ability to remain in compliance with our financial commitments under our credit lines; our ability to refinance our existing indebtedness when it matures, on favorable terms or under any condition; our ability to raise capital, including through the sale of properties or equity interests and through the issuance of shares or bonds linked to shares if market conditions are favorable; and potential dilution of any capital increase transactions or other share issues.

Additional factors that could cause future events, achievements or results to differ materially from those expressed or implied in our forward-looking statements include those discussed in this document and the sections entitled “Item 1A. Risk factors” in our Annual Report on Form 10-K for the year ended December 31, 2019 and in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2020. We do not intend to update or revise any forward-looking statements to reflect new information, future events or otherwise.

Contact PREIT:

Heather Crowell

EVP, Strategy and Communications

(215) 316-6271

heather.crowell@preit.com

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Paula Fonseca