Pennsylvania Real Estate Investment Trust: insider trades · United States · SEC (Form 4)

About Pennsylvania Real Estate Investment Trust

Pennsylvania Real Estate Investment Trust (PREIT) is listed on the U.S. market on the NYSE under ticker PEI. It is a real estate investment trust focused on owning, operating, and repositioning retail properties, especially enclosed malls and dominant shopping centers. PREIT is headquartered in Philadelphia, Pennsylvania, United States, with its main headquarters address at One Commerce Square, 2005 Market Street, Suite 1000. The company was founded in 1960 and is widely described as one of the first equity REITs in the United States, giving it a long operating history in the cyclical U.S. retail real estate sector. PREIT’s core business is concentrated in retail shopping malls and mixed-use retail destinations across the eastern United States, with a particular emphasis on the Mid-Atlantic region. Over time, the company has shifted away from a broad mall footprint toward a more selective portfolio strategy centered on higher-quality assets, stronger trade areas, and properties with the ability to attract national brands, dining, entertainment, and experiential tenants. Management has also highlighted the conversion of certain underutilized retail spaces into broader community-oriented ecosystems, including possible residential, hotel, medical, and service uses where economics support it. From a competitive perspective, PREIT operates in a sector where location quality, tenant mix, occupancy, foot traffic, and access to capital are key differentiators. Its strategy is to concentrate capital and leasing efforts on assets with strong market positions, often described as “winner-take-all” centers or dominant malls in their respective trade areas. Notable properties include Cherry Hill Mall, Springfield Town Center, Woodland Mall, Mall at Prince George’s, Viewmont Mall, and Dartmouth Mall. These assets are intended to serve as regional retail hubs that can sustain traffic and support rent levels even as e-commerce continues to reshape consumer behavior. Recent developments are especially important. PREIT completed a major financial and corporate restructuring in 2024, materially reducing debt and changing its governance structure; the company also stated that it is no longer an SEC reporting company. In 2025, PREIT reported continued leasing momentum, with new leases and openings across the portfolio, reflecting ongoing demand for well-located retail space. The company also secured asset-level financing, including on Dartmouth Mall, as part of its effort to lower borrowing costs and improve financial flexibility. For investors, PREIT remains a U.S. retail REIT in transformation: smaller, more focused, and centered on balance-sheet repair, asset repositioning, and selective growth rather than portfolio expansion.