PEI on NYSE

Pennsylvania Real Estate Investment Trust

Logo: PREIT, Public domain, via Wikimedia Commons4

U.S. real estate company

PREIT Realty (an initialism of its former name, Pennsylvania Real Estate Investment Trust) is a privately held company that owns and develops shopping centers, mostly in the Mid-Atlantic states.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

1960Founded1

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  • TickerPEI on NYSE1
  • Industryreal estate investment trust1
  • HeadquartersPhiladelphia1
  • Websitewww.preit.com
  • Legal formpublic company1
  • Incorporated inPA5
  • Business addressOne Commerce Square, 2005 Market Street, Suite 1000, Philadelphia, Pa 191035
  • Filer categoryNon-accelerated filer, Smaller reporting company5

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PREIT Realty (an initialism of its former name, Pennsylvania Real Estate Investment Trust) is a privately held company that owns and develops shopping centers, mostly in the Mid-Atlantic states.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

-50.1%Net margin7
-0.1%Revenue growth, 20227

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • Other costs52¢$154.3M
  • Interest48¢$141.8M

Out of $296.0M in revenue.7 The company lost money this year.

Where each dollar of operating cash went, fiscal 2022

  • Kept or used elsewhere100¢$69.3M

Out of $69.3M of cash from operations.7

Financial statements

Revenue8910117$296.0M in 2022−26% since 2016
0$100.0M$200.0M$300.0M$400.0M2016: $399.9M$399.9M20162017: $367.5M$367.5M2017−8%2018: $362.4M$362.4M2018−1%2019: $336.8M$336.8M2019−7%2020: $261.8M$261.8M2020−22%2021: $296.4M$296.4M2021+13%2022: $296.0M$296.0M2022−0%
Net income8910117-$148.3M in 2022+1435% since 2016
-$300.0M-$200.0M-$100.0M02016: -$9.7M-$9.7M20162017: -$26.0M-$26.0M2017+169%2018: -$110.3M-$110.3M2018+325%2019: -$10.9M-$10.9M2019−90%2020: -$259.5M-$259.5M2020+2287%2021: -$132.7M-$132.7M2021−49%2022: -$148.3M-$148.3M2022+12%
Fiscal year2016201720182019202020212022
Revenue$399.9M8$367.5M9$362.4M9$336.8M10$261.8M11$296.4M7$296.0M7
Cost of revenue$156.2M8$140.3M8$141.2M8
Interest$70.7M8$58.4M9$61.4M9$64.0M10$84.3M11$128.0M7$141.8M7
Income tax$08$09$09$010$011$07$07
Net income-$9.7M8-$26.0M9-$110.3M9-$10.9M10-$259.5M11-$132.7M7-$148.3M7
Earnings per share-$30.567-$33.067
Earnings per share (diluted)-$30.567-$33.067

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The story

The company was founded by Sylvan M. Cohen (1914-2001) in 1960 following the passage of the Real Estate Investment Trust Act, which allowed real estate trusts to access money from public investment. In 1997, the company acquired The Rubin Organization for $260 million, and founder and chief executive officer Ronald Rubin became CEO of PREIT. In 2003, the company acquired six shopping malls from The Rouse Company. The company also acquired Crown American.

In 2012, Joseph Coradino was named chief executive officer of the company.

The company filed for Chapter 11 bankruptcy protection on November 1, 2020, and exited bankruptcy protection on December 11, 2020.

On December 10, 2023, PREIT once again filed for Chapter 11 bankruptcy protection. The company exited its bankruptcy proceedings in April 2024 as a private company under the ownership of its former lenders and appointed Jared Chupaila as CEO.

In Spring 2026, PREIT announced a redesigned website via a LinkedIn post alongside a new logo and rebrand to PREIT Realty.

From Wikipedia’s article on PREIT, shared under CC BY-SA 4.0.6

Leadership

Who has led Pennsylvania Real Estate Investment Trust, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Ronald Rubin2006–2012
  2. Joseph F. Coradino2012–2024

Chair

  1. Ronald Rubin2006–2016

President

  1. Edward A. Glickman2006–2012
  2. Joseph F. Coradino2006–2012

Chief financial officer

  1. Robert F. McCadden2006–2019
  2. Mario C. Ventresca Jr.2020–2024

Chief operating officer

  1. Edward A. Glickman2006–2012
197019801990200020102020
Board members and other officers (33)

Products and brands

  • shopping center

Listed on Wikidata.1

Notable properties owned by PREIT are as follows:

From Wikipedia’s article on PREIT, shared under CC BY-SA 4.0.6

Subsidiaries and ownership

Also owns

  • The Mall at Prince Georges

From Wikidata.1

Timeline

  1. Sep 18, 2012New chief executive Joseph F. Coradino becomes CEO15
  2. Mar 14, 2006New chief executive Ronald Rubin becomes CEO16
  3. 1960Founded Founded1

Filings

191 filings to the SEC since October 2021: 2 annual reports, 7 quarterly reports, 53 major events, 91 insider forms, 9 large holders, 29 other. The latest 20:

  1. Apr 3, 20244 EDGAR
  2. Apr 3, 20244 EDGAR
  3. Apr 3, 20244 EDGAR
  4. Apr 3, 20244 EDGAR
  5. Apr 3, 20244 EDGAR
  6. Apr 3, 20244 EDGAR
  7. Apr 3, 20244 EDGAR
  8. Apr 3, 20244 EDGAR
  9. Apr 3, 20244 EDGAR
  10. Apr 3, 20244 EDGAR
  11. Apr 3, 20244 EDGAR
  12. Apr 3, 20244 EDGAR
  13. Apr 3, 20244 EDGAR
  14. Apr 1, 202415-12G EDGAR
  15. Apr 1, 2024S-8 POS EDGAR
  16. Apr 1, 2024S-8 POS EDGAR
  17. Apr 1, 2024S-8 POS EDGAR
  18. Apr 1, 2024S-8 POS EDGAR
  19. Apr 1, 2024S-8 POS EDGAR
  20. Apr 1, 2024S-8 POS EDGAR

The 191 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 9 such filings since October 2021:

  1. Jul 12, 2023SC 13D/A
  2. Mar 21, 2023SC 13D/A
  3. Jul 12, 2022SC 13D/A
  4. Jun 27, 2022SC 13D/A
  5. Mar 28, 2022SC 13D/A
  6. Feb 28, 2022SC 13D/A
  7. Feb 23, 2022SC 13D/A
  8. Feb 18, 2022SC 13D/A
  9. Feb 10, 2022SC 13D

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Sources

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