Moorestown Mall Owner Reports $49.6M In Losses To Start 2021 Patch 2 days ago Anthony Bellano © Photo Credit: Anthony Bellano The Pennsylvania Real Estate Investment Trust (PREIT) reported $49.6 million in losses for the first three months of 2021.
MOORESTOWN, NJ The owners of the Moorestown Mall reported a loss of $49.6 million for the first three months of the year.
The Pennsylvania Real Estate Investment Trust (PREIT) on Thursday posted its quarterly report for the first three months of 2021. The $49.6 million loss for the period ending March 31 comes out to a loss of about 64 cents per share. Over the same period last year, PREIT lost $19.9 million, or 26 cents per share.
Hamilton Mall could have power cut over unpaid bill, report says
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When, where and how Lehigh Valley kids can visit the (socially distanced) Easter Bunny
Updated Mar 17, 2021;
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Children, however, likely won’t be sitting on his lap this year.
Similar to when Santa Claus came to town in December, retailers are searching for ways for families to still enjoy the time-honored spring tradition. At the same time, they are adhering to all precautionary measures set forth by the Centers for Disease Control and Prevention to help thwart the spread of COVID-19. This includes wearing facial masks, social distancing and continuously sanitizing.
The Pennsylvania Department of Health on Tuesday reported 3,119 new cases of COVID-19 and 65 reported deaths – the most of each in at least two weeks. The state now totals 970,717 cases and 25,652 deaths since the pandemic reached Pennsylvania a year ago. The health department also reported more than 3.7 million doses of vaccine have been distributed since December. More than 1.3 million Pennsylvan
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Adam Levine-Weinberg is a senior Industrials/Consumer Goods specialist with The Motley Fool. He is an avid stock-market watcher and a value investor at heart. He primarily covers airline, auto, retail, and tech stocks. Follow him on Twitter for the latest news and commentary on the airline industry! Follow @AdamLLW
Last fall,
Pennsylvania Real Estate Investment Trust (NYSE:PEI) filed for bankruptcy protection, brought down by too much debt and a sharp drop in revenue resulting from store closures and retail bankruptcies. However, PREIT emerged from bankruptcy within weeks without wiping out (or even diluting) shareholders interests.
Yet while the retail REIT survived bankruptcy, that doesn t guarantee a happy ending for shareholders. Let s take a look at what PREIT needs to do to return to health.
UpdatedFri, Mar 12, 2021 at 11:19 am ET
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The former Sears store at the Moorestown Mall will become a Cooper Hospital outpatient location, the mall owners announced this week. (Photo Credit: Anthony Bellano)
MOORESTOWN, NJ The former Sears store at the Moorestown Mall will become a Cooper Hospital outpatient location, the mall owners announced this week. A transaction has been executed with Cooper Hospital for an outpatient location in the former Sears space at Moorestown Mall, the Pennsylvania Real Estate Investment Trust (PREIT) said in announcing its full 2020 financial results and earnings for the first quarter of 2021. Cooper University Health Care, a leading academic health system in the southern New Jersey and Philadelphia region, will open a specialty care facility in the former Sears location at Moorestown Mall occupying over 165,000 square feet, PREIT officials said in a statement. With this addition and the apartments and hotel planned for the site, the pro
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