PHILADELPHIA, Oct. 11,
2022 /PRNewswire/ -- PREIT (NYSE: PEI) intends to
release its financial results for the quarter ending September 30, 2022 before market trading begins
on Tuesday, November 8,
2022.
Management has scheduled a conference call for 11:00 a.m. Eastern Time on Tuesday, November 8,
2022, to review the Company's results and future outlook. To
listen to the call, please dial 1(888) 330-2024 (domestic toll
free), or 1(646) 960-0187 (international), and request to join the
PREIT call, Conference ID 9326912, at least fifteen minutes before
the scheduled start time as callers could experience delays.
Investors can also access the call in a "listen only" mode via the
internet at the Company's website, preit.com. Please allow
extra time prior to the call to visit the site and download the
necessary software to listen to the Internet broadcast.
Financial and statistical information expected to be discussed on
the call will also be available on the Company's website.
For interested individuals unable to join the conference call,
the online archive of the webcast will also be available for one
year following the call.
In order to be more accessible to shareholders, PREIT has
partnered with Say Technologies, LLC, a Robinhood Markets company,
which has built an innovative communication platform to make it
easier for investors to exercise their ownership rights. The
Company expects to begin accepting questions via the Q&A
platform on November 1, 2022 and will
issue an announcement when the platform opens.
About PREIT
PREIT (NYSE:PEI) is a publicly traded real estate investment
trust that owns and manages innovative properties developed to be
thoughtful, community-centric hubs. PREIT's robust portfolio of
carefully curated, ever-evolving properties generates success for
its tenants and meaningful impact for the communities it serves by
keenly focusing on five core areas of established and emerging
opportunity: multi-family & hotel, health & tech, retail,
essentials & grocery and experiential. Located primarily in
densely-populated regions, PREIT is a top operator of high quality,
purposeful places that serve as one-stop destinations for customers
to shop, dine, play and stay. Additional information is available
at www.preit.com or on Twitter, Instagram or
LinkedIn.
Forward Looking
Statements
This press release contains certain forward-looking statements
that can be identified by the use of words such as "anticipate,"
"believe," "estimate," "expect," "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 regarding our business, the
economy and other future events and conditions and are based on
currently available financial, economic and competitive data and
our current business plans. Actual results could vary materially
depending on 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
filings with the Securities and Exchange Commission. While we
believe our assumptions are 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 anticipate 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, the effectiveness of our financial
restructuring and any additional strategies that we may employ to
address our liquidity and capital resources in the future; our
ability to achieve forecasted revenue and pro forma leverage ratio
and generate free cash flow to further reduce indebtedness; the
COVID-19 global pandemic and the public health and governmental
response, which have created periods of significant economic
disruption and also have and may continue to exacerbate many of the
risks listed herein; changes in the retail and real estate
industries, including bankruptcies, consolidation and store
closings, particularly among anchor tenants; changes in economic
conditions, including unemployment rates and its effects on
consumer confidence and spending, supply chain challenges, the
current inflationary environment, and the corresponding effects on
tenant business performance, prospects, solvency and leasing
decisions; our inability to collect rent due to the bankruptcy or
insolvency of tenants 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, which may be
exacerbated in the current inflationary environment; the effects of
online shopping and other uses of technology on our retail tenants;
risks related to our development and redevelopment activities,
including delays, cost overruns and our inability to reach
projected occupancy or rental rates; social unrest and acts of
vandalism or violence at malls, including our properties, or at
other similar spaces, and the potential effect on traffic and
sales; our ability to sell properties that we seek to dispose of,
which may be delayed by, among other things, the failure to obtain
zoning, occupancy and other governmental approvals and permits or,
to the extent required, approvals of other third parties; potential
losses on impairment of certain long-lived assets, such as real
estate, including losses that we might be required to record in
connection with any disposition of assets; our substantial debt and
our ability to remain in compliance with our financial covenants
under our debt facilities; our ability to raise capital, including
through sales of properties or interests in properties, subject to
the terms of our credit agreements; and potential dilution from any
capital raising transactions or other equity issuances.
Additional factors that might cause future events, achievements
or results to differ materially from those expressed or implied by
our forward-looking statements include those discussed herein, and
in the sections entitled "Item 1A. Risk Factors" in our Annual
Report on Form 10-K for the year ended December 31, 2021. We do not intend to update or
revise any forward-looking statements to reflect new information,
future events or otherwise.
Contact:
Heather Crowell
heather@gregoryfca.com
preit@gregoryfca.com
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SOURCE PREIT