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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Sunday, January 28, 12:42 PM

Slide #388. Pennsylvania Real Estate Investment Trust Preferred Stock Offering

Company: Pennsylvania Real Estate Investment Trust (NYSE:PEI)
Date announced: 10/1/2012
Underwriters: Wells Fargo Securities, LLC, Citigroup and Merrill Lynch, Pierce, Fenner & Smith Incorporated
Security type: Series B Cumulative Redeemable Perpetual Preferred Shares (NYSE:PEI.PRB)
Shares Offered: 3,450,000
Date of Pricing: 10/11/2012
Price Per Share: $25
Closed Date: 10/11/2012
Preferred Stock Offering Details: Pennsylvania Real Estate Investment Trust announced that it has commenced an underwritten public offering of Series B Cumulative Redeemable Perpetual Preferred Shares (the "Series B Preferred Shares"). The Series B Preferred Shares will have a liquidation preference of $25.00 per share. The Company expects to grant to the underwriters for the public offering a 30-day option to purchase additional Series B Preferred Shares. The Company intends to file an application to list the Series B Preferred Shares on the New York Stock Exchange. If the application is approved, trading of the Series B Preferred Shares on the New York Stock Exchange is expected to begin within 30 days after the initial issuance of the Series B Preferred Shares. Wells Fargo Securities, LLC, Citigroup and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers for the offering.

Pennsylvania Real Estate Investment Trust is a real estate investment trust, which is engaged in the ownership, management, leasing, acquisition, redevelopment, development and disposition of shopping malls. In general, Co.'s malls include tenants that are national or regional department stores, large format retailers or other anchors and a mix of national, regional and local in-line stores providing apparel (women's, family, teen, children's, men's), shoes, eyewear, cards and gifts, jewelry, sporting goods, home furnishings, personal care items, among other things. As of Dec 31 2016, Co.'s portfolio consisted of a total of 30 properties located in 10 states and operating in nine states.

Preferreds: PEI.PRA, PEI.PRB


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Name: Pennsylvania Real Estate Investment Trust
Website: preit.com
Sector: REITs
Number of ETFs Holding PEI: 41 (see which ones)
Total Market Value Held by ETFs: $150,630,149
Total Market Capitalization: $824,000,000
% of Market Cap. Held by ETFs: 18.28%

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