Welcome!

News Feed Item

PREIT Reports Tax Status of 2013 Distributions

PHILADELPHIA, Jan. 17, 2014 /PRNewswire/ -- PREIT (NYSE: PEI) today announced that the tax status of the distributions paid per share during 2013 is as follows: 

COMMON SHARES

IRS Form 1099-DIV

CUSIP: 709 102 107

2013

Box 1a

Long Term Capital Gain

Box 3

NYSE Ticker Symbol: PEI

Box 2a

Box 2b

Record

Ex-Dividend

Payable

Total

Ordinary

Total Capital

Unrecaptured

Nontaxable

Date

Date

Date

Distribution

Dividends

Gain Distribution

Sec. 1250

Distributions




Per Share



Gain


3/4/2013

2/28/2013

3/15/2013

$0.180000

$0.000000

$0.000000

$0.000000

$0.180000

5/31/2013

5/29/2013

6/17/2013

$0.180000

$0.000000

$0.000000

$0.000000

$0.180000

8/30/2013

8/28/2013

9/16/2013

$0.180000

$0.000000

$0.000000

$0.000000

$0.180000

12/2/2013

11/27/2013

12/16/2013

$0.200000

$0.000000

$0.000000

$0.000000

$0.200000

Totals for 2013

$0.740000

$0.000000

$0.000000

$0.000000

$0.740000









8.25% Series A - PREFERRED SHARES

IRS Form 1099-DIV

CUSIP: 709 102 404

2013

Box 1a

Long Term Capital Gain

Box 3

NYSE Ticker Symbol: PEIPrA

Box 2a

Box 2b

Record

Ex-Dividend

Payable

Total

Ordinary

Total Capital

Unrecaptured

Nontaxable

Date

Date

Date

Distribution

Dividends

Gain Distribution

Sec. 1250

Distributions




Per Share



Gain


3/4/2013

2/28/2013

3/15/2013

$0.515625

$0.489872

$0.000000

$0.000000

$0.025753

5/31/2013

5/29/2013

6/17/2013

$0.515625

$0.489872

$0.000000

$0.000000

$0.025753

8/30/2013

8/28/2013

9/16/2013

$0.515625

$0.489872

$0.000000

$0.000000

$0.025753

12/2/2013

11/27/2013

12/16/2013

$0.515625

$0.489872

$0.000000

$0.000000

$0.025753

Totals for 2013

$2.062500

$1.959488

$0.000000

$0.000000

$0.103012









7.375% Series B - PREFERRED SHARES

IRS Form 1099-DIV

CUSIP: 709 102 503

2013

Box 1a

Long Term Capital Gain

Box 3

NYSE Ticker Symbol: PEIPrB

Box 2a

Box 2b

Record

Ex-Dividend

Payable

Total

Ordinary

Total Capital

Unrecaptured

Nontaxable

Date

Date

Date

Distribution

Dividends

Gain Distribution

Sec. 1250

Distributions




Per Share



Gain


3/4/2013

2/28/2013

3/15/2013

$0.460938

$0.437916

$0.000000

$0.000000

$0.023022

5/31/2013

5/29/2013

6/17/2013

$0.460938

$0.437916

$0.000000

$0.000000

$0.023022

8/30/2013

8/28/2013

9/16/2013

$0.460938

$0.437916

$0.000000

$0.000000

$0.023022

12/2/2013

11/27/2013

12/16/2013

$0.460938

$0.437916

$0.000000

$0.000000

$0.023022

Totals for 2013

$1.843752

$1.751664

$0.000000

$0.000000

$0.092088

(Logo: http://photos.prnewswire.com/prnh/20130905/MM75091LOGO )

The above reflects the total amounts of distributions paid by PREIT on its outstanding common shares and its Series A and Series B preferred shares during 2013, which will be reported on IRS Form 1099-DIV. Shareholders are required to include these amounts on their Federal income tax returns and are encouraged to consult with their tax advisors.

This release is based on the preliminary results of work on the Company's tax filings and is subject to correction or adjustment when the filings are completed.  The Company is releasing information at this time to aid those required to distribute Forms 1099 on the Company's distributions. No material change in these classifications is expected.

Information about distributions paid for common and preferred shares can also be found at the website of the National Association of Real Estate Investment Trusts (NAREIT), www.reit.com, or by contacting NAREIT by phone at (800) 3-NAREIT or (800-362-7348).

About Pennsylvania Real Estate Investment Trust
PREIT is a real estate investment trust specializing in the ownership and management of differentiated retail shopping malls designed to fit the dynamic communities they serve.  Founded in 1960 as Pennsylvania Real Estate Investment Trust, the Company now operates properties in 12 states in the eastern half of the United States with concentration in the Mid-Atlantic region and Greater Philadelphia.  The Company's current portfolio is comprised of 35 shopping malls, five community and power centers, and three development sites totaling 43 properties and 30.3 million square feet of space.  PREIT is headquartered in Philadelphia, Pennsylvania, and is publicly traded on the NYSE under the symbol PEI.  Information about the Company can be found at www.preit.com or on Twitter or LinkedIn.

Forward Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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 views about future events, achievements or results and are subject to risks, uncertainties and changes in circumstances that might cause future events, achievements or results to differ materially from those expressed or implied by the forward-looking statements. In particular, our business might be materially and adversely affected by uncertainties affecting real estate businesses generally as well as the following, among other factors: our substantial debt and stated value of preferred shares and our high leverage ratio; constraining leverage, interest and tangible net worth covenants under our 2013 Revolving Facility and 2014 Term Loans; potential losses on impairment of certain long-lived assets, such as real estate, or of intangible assets, such as goodwill; potential losses on impairment of assets that we might be required to record in connection with any dispositions of assets; recent changes to our corporate management team and any resulting modifications to our business strategies; our ability to refinance our existing indebtedness when it matures, on favorable terms or at all; our ability to raise capital, including through the issuance of equity or equity-related securities if market conditions are favorable, through joint ventures or other partnerships, through sales of properties or interests in properties, or through other actions; our short- and long-term liquidity position; current economic conditions and their effect on employment and consumer confidence and spending and the corresponding effects on tenant business performance, prospects, solvency and leasing decisions and on our cash flows, and the value and potential impairment of our properties; general economic, financial and political conditions, including credit and capital market conditions, changes in interest rates or unemployment; changes in the retail industry, including consolidation and store closings, particularly among anchor tenants; the effects of online shopping and other uses of technology on our retail tenants; our ability to maintain and increase property occupancy, sales and rental rates, in light of the relatively high number of leases that have expired or are expiring in the next two years; increases in operating costs that cannot be passed on to tenants; risks relating to development and redevelopment activities; concentration of our properties in the Mid-Atlantic region; changes in local market conditions, such as the supply of or demand for retail space, or other competitive factors; potential dilution from any capital raising transactions; possible environmental liabilities; our ability to obtain insurance at a reasonable cost; and existence of complex regulations, including those relating to our status as a REIT, and the adverse consequences if we were to fail to qualify as a REIT.  The risks included here are non-exhaustive, and there are 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 in the section of our Annual Report on Form 10-K and in our Quarterly Report on Form 10-Q for the three months ended March 31, 2013 in the section entitled "Item 1A. Risk Factors." We do not intend to update or revise any forward-looking statements to reflect new information, future events or otherwise.

CONTACT: AT THE COMPANY
Robert McCadden
EVP & CFO
(215) 875-0735

Heather Crowell
VP, Corporate Communications and Investor Relations
(215) 875-0735

SOURCE PREIT

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
"Storpool does only block-level storage so we do one thing extremely well. The growth in data is what drives the move to software-defined technologies in general and software-defined storage," explained Boyan Ivanov, CEO and co-founder at StorPool, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Blockchain. A day doesn’t seem to go by without seeing articles and discussions about the technology. According to PwC executive Seamus Cushley, approximately $1.4B has been invested in blockchain just last year. In Gartner’s recent hype cycle for emerging technologies, blockchain is approaching the peak. It is considered by Gartner as one of the ‘Key platform-enabling technologies to track.’ While there is a lot of ‘hype vs reality’ discussions going on, there is no arguing that blockchain is b...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
Is advanced scheduling in Kubernetes achievable?Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, answered these questions and demonstrated techniques for implementing advanced scheduling. For example, using spot instances and co...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
The use of containers by developers -- and now increasingly IT operators -- has grown from infatuation to deep and abiding love. But as with any long-term affair, the honeymoon soon leads to needing to live well together ... and maybe even getting some relationship help along the way. And so it goes with container orchestration and automation solutions, which are rapidly emerging as the means to maintain the bliss between rapid container adoption and broad container use among multiple cloud host...
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
The need for greater agility and scalability necessitated the digital transformation in the form of following equation: monolithic to microservices to serverless architecture (FaaS). To keep up with the cut-throat competition, the organisations need to update their technology stack to make software development their differentiating factor. Thus microservices architecture emerged as a potential method to provide development teams with greater flexibility and other advantages, such as the abili...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.