Home Top Movers Here is why Pennsylvania Real Estate Invt Trust (PEI) stock jumped in...

Here is why Pennsylvania Real Estate Invt Trust (PEI) stock jumped in the after-hours on Wednesday?

Pennsylvania Real Estate Investment Trust (PEI) shares surged 5.59% to trade at $1.89 in after-market on Wednesday, May 19, 2021. Earlier, PEI’s stock lost 1.10% to close Wednesday’s normal session at $1.79. PEI shares have risen 50.42% over the last 12 months, and they have moved up 4.68% in the past week. Over the past three months, the stock has lost 17.51%, while over the past six months, it has soared 287.45%.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Let’s check out its recent developments.

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored

Finalizingtransactions for Moorestown location

On May 19, 2021, Pennsylvania Real Estate Investment Trust (PREIT) finalized the transactions associated with bringing Cooper University Health Care to Moorestown Mall.

Read More

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.

New lease signed for a fulfillment centre

On May 13, 2021, PREIT signed a new lease for a fulfillment centre at Cumberland Mall in Vineland, NJ. The approximately 80,000 square foot facility will soon occupy the former Burlington space delivering a new source of non-retail revenue.

Recent Financial results announcement

On May 5, 2021, PREIT released its financial results for the three months ended March 31, 2021.

Q1 2021 financial highlights

  • PREIT reported a net loss of $49.6 million or $0.64 per basic and diluted share attributable to PREIT common shareholders in Q1 2021 compared to a net loss of $19.9 million or $0.26 per basic and diluted share for Q1 2020.
  • The company earned a revenue of $65.4 million in Q1 2021 compared to $74.2 million in Q1 2020.
  • Total operating expenses were $75.02 million in Q1 2021 compared to $73.7 million in Q1 2020.
  • Total expenses were $105.95 million in Q1 2021 compared to $90.53 million in Q1 2020.

Q4 and FY 2020 financial results

On March 11, 2021, PREIT released its financial results for the three months and the year ended December 31, 2020.

Q4 2020 financial highlights

  • Net loss attributable to PREIT common shareholders was $202.1 million or $2.62per basic and diluted share for the three months ended December 31, 2020, compared to a net loss attributable to PREIT common shareholders of $21.7 million, or $0.29 per basic and diluted share for the three months ended December 31, 2019.
  • For the reported quarter, revenue was $66.62 million compared to $88.72 million in Q4 2019.
  • Total operating expenses were $82.13 million in Q4 2020 compared to $88.56 million in Q4 2019.

FY-2020 financial highlights

Conclusion

PREIT recently signed a new lease which could be the reason behind its gains in the after-hours. The company had performed well recently and signed many leases which can take its stock price further up in the coming days.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Tyme Technologies, Inc. (TYME) Stock Trends downwards Following Strong Q4 2021 Financials and Progress in OASIS Trial

Tyme Technologies, Inc. (TYME) stock prices was down by -6.92% shortly after market trading commenced on June 11th, 2021, bringing the price per share...

Prophase Labs Inc. (PRPH) stock surged during pre-market trading session. Let’s figure out why?

Prophase Labs Inc. (NASDAQ: PRPH) stock soared by 5.87% at last close as well as the PRPH stock price has been observed rising by...

Why Surgalign Holdings, Inc. (SRGA) stock is gloomy today?

Surgalign Holdings, Inc. (SRGA) stock announced the $50 million registered direct offering priced at the market under Nasdaq rules today on June 10, 2021,...

Exela Technologies Inc. (XELA) stock soars during pre-market. Here’s what you should know?

Exela Technologies Inc. (NASDAQ: XELA) stock gained by 8.28% at last close while the XELA stock price rises in the pre-market as well, by...

Atossa Therapeutics, Inc. (ATOS) stock gains during pre-market trading. Here’s to know why?

Atossa Therapeutics, Inc. (NASDAQ: ATOS) stock declined by 27.51% at the last close while the ATOS stock price rises further by 9.09% in the...

Magnachip Semiconductor Corporation (MX) stock is Popping High today: Why is it so?

Shares of the Magnachip Semiconductor Corporation (MX) stock were popping high after the announcement of its receival of unsolicited buyout bid from Cornucopia Investment...

Why is Autolus Therapeutics plc (AUTL) stock rising today?

Shares of  Autolus Therapeutics plc (AUTL) stock were rising today on June 11, 2021, following the release of the presentation data related to obe-cel...

Mustang Bio, Inc. (MBIO) stock is climbing today: Here is to know why.

Mustang Bio, Inc. (MBIO) stock announced the updated interim data from Phase 1/2 clinical trial of its MB-106 CD20-targeted, autologous CAR T today on...

Related News

Magnachip Semiconductor Corporation (MX) stock is Popping High today: Why is it so?

Shares of the Magnachip Semiconductor Corporation (MX) stock were popping high after the announcement of its receival of unsolicited buyout bid from Cornucopia Investment...

Mustang Bio, Inc. (MBIO) stock is climbing today: Here is to know why.

Mustang Bio, Inc. (MBIO) stock announced the updated interim data from Phase 1/2 clinical trial of its MB-106 CD20-targeted, autologous CAR T today on...

Here’s why Soligenix, Inc. (SNGX) stock is Popping High today

Soligenix, Inc. (SNGX) stock gained Pediatric Investigation Plan (PIP) waiver for HyBryte™ (SGX301 or hypericin) by European Medicines Agency (EMA) after which the SNGX...

Clover Health Investments Corp. (CLOV) stock rises during pre-market. Let’s find out why?

Clover Health Investments Corp. (NASDAQ: CLOV) stock declined by 23.61% at last close while the CLOV stock price gains by 5.73% in the pre-market...

GameStop Inc. (GME) stock plunged during after-hour session. Here’s the update

GameStop Inc. (NASDAQ: GME) stock gained by 0.85% at the last close while the GME stock price declines by 5.21% in the after-hours session....

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam