PHILADELPHIA, Jan. 21, 2020 /PRNewswire/ -- PREIT (NYSE: PEI) today announced that the tax status of the distributions paid per share during 2019 is as follows:
|
COMMON SHARES
|
IRS Form 1099-DIV
|
|
CUSIP: 709 102 107
|
2019
|
Box 1a
|
Long Term Capital Gain
|
Box 3
|
Box 5
|
|
NYSE Ticker Symbol: PEI
|
Box 2a
|
Box 2b
|
|
Record
|
Ex-Dividend
|
Payable
|
Total
|
Ordinary
|
Total Capital
|
Unrecaptured
|
Nondividend
|
Section 199A
|
|
Date
|
Date
|
Date
|
Distribution
|
Dividends
|
Gain Distribution
|
Sec. 1250
|
Distributions
|
Dividends
|
|
|
|
Per Share
|
|
|
Gain
|
|
|
|
03/01/2019
|
02/28/2019
|
03/15/2019
|
$0.210000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.210000
|
$0.000000
|
|
06/03/2019
|
05/31/2019
|
06/17/2019
|
$0.210000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.210000
|
$0.000000
|
|
09/03/2019
|
08/30/2019
|
09/17/2019
|
$0.210000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.210000
|
$0.000000
|
|
12/02/2019
|
11/29/2019
|
12/16/2019
|
$0.210000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.210000
|
$0.000000
|
|
Totals for 2019
|
$0.840000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.840000
|
$0.000000
|
|
|
|
|
|
|
|
|
|
|
7.375% Series B - PREFERRED SHARES
|
IRS Form 1099-DIV
|
|
CUSIP: 709 102 503
|
2019
|
Box 1a
|
Long Term Capital Gain
|
Box 3
|
Box 5
|
|
NYSE Ticker Symbol: PEIPrB
|
Box 2a
|
Box 2b
|
|
Record
|
Ex-Dividend
|
Payable
|
Total
|
Ordinary
|
Total Capital
|
Unrecaptured
|
Nondividend
|
Section 199A
|
|
Date
|
Date
|
Date
|
Distribution
|
Dividends
|
Gain Distribution
|
Sec. 1250
|
Distributions
|
Dividends
|
|
|
|
Per Share
|
|
|
Gain
|
|
|
|
03/01/2019
|
02/28/2019
|
03/15/2019
|
$0.460938
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.460938
|
$0.000000
|
|
06/03/2019
|
05/31/2019
|
06/17/2019
|
$0.460938
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.460938
|
$0.000000
|
|
09/03/2019
|
08/30/2019
|
09/17/2019
|
$0.460938
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.460938
|
$0.000000
|
|
12/02/2019
|
11/29/2019
|
12/16/2019
|
$0.460938
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.460938
|
$0.000000
|
|
Totals for 2019
|
$1.843752
|
$0.000000
|
$0.000000
|
$0.000000
|
$1.843752
|
$0.000000
|
|
|
|
|
|
|
|
|
|
|
7.200% Series C - PREFERRED SHARES
|
IRS Form 1099-DIV
|
|
CUSIP: 709 102 602
|
2019
|
Box 1a
|
Long Term Capital Gain
|
Box 3
|
Box 5
|
|
NYSE Ticker Symbol: PEIPrC
|
Box 2a
|
Box 2b
|
|
Record
|
Ex-Dividend
|
Payable
|
Total
|
Ordinary
|
Total Capital
|
Unrecaptured
|
Nondividend
|
Section 199A
|
|
Date
|
Date
|
Date
|
Distribution
|
Dividends
|
Gain Distribution
|
Sec. 1250
|
Distributions
|
Dividends
|
|
|
|
Per Share
|
|
|
Gain
|
|
|
|
03/01/2019
|
02/28/2019
|
03/15/2019
|
$0.450000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.450000
|
$0.000000
|
|
06/03/2019
|
05/31/2019
|
06/17/2019
|
$0.450000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.450000
|
$0.000000
|
|
09/03/2019
|
08/30/2019
|
09/17/2019
|
$0.450000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.450000
|
$0.000000
|
|
12/02/2019
|
11/29/2019
|
12/16/2019
|
$0.450000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.450000
|
$0.000000
|
|
Totals for 2019
|
$1.800000
|
$0.000000
|
$0.000000
|
$0.000000
|
$1.800000
|
$0.000000
|
|
|
|
|
|
|
|
|
|
|
6.875% Series D - PREFERRED SHARES
|
IRS Form 1099-DIV
|
|
CUSIP: 709 102 701
|
2019
|
Box 1a
|
Long Term Capital Gain
|
Box 3
|
Box 5
|
|
NYSE Ticker Symbol: PEIPrD
|
Box 2a
|
Box 2b
|
|
Record
|
Ex-Dividend
|
Payable
|
Total
|
Ordinary
|
Total Capital
|
Unrecaptured
|
Nondividend
|
Section 199A
|
|
Date
|
Date
|
Date
|
Distribution
|
Dividends
|
Gain Distribution
|
Sec. 1250
|
Distributions
|
Dividends
|
|
|
|
Per Share
|
|
|
Gain
|
|
|
|
03/01/2019
|
02/28/2019
|
03/15/2019
|
$0.429688
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.429688
|
$0.000000
|
|
06/03/2019
|
05/31/2019
|
06/17/2019
|
$0.429688
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.429688
|
$0.000000
|
|
09/03/2019
|
08/30/2019
|
09/17/2019
|
$0.429688
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.429688
|
$0.000000
|
|
12/02/2019
|
11/29/2019
|
12/16/2019
|
$0.429688
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.429688
|
$0.000000
|
|
Totals for 2019
|
$1.718752
|
$0.000000
|
$0.000000
|
$0.000000
|
$1.718752
|
$0.000000
|
The above reflects the total amounts of distributions paid by PREIT on its outstanding common shares and its Series B, Series C and Series D Preferred shares during 2019, 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 PREIT
PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in the densely-populated eastern U.S. with concentrations in the mid-Atlantic's top MSAs. Since 2012, the company has driven a transformation guided by an emphasis on portfolio quality and balance sheet strength driven by disciplined capital expenditures. Additional information is available at www.preit.com or on Twitter or LinkedIn.
Forward Looking Statements
This press release contains certain forward-looking statements that can be identified by the use of words such as "anticipate," "believe," "estimate," "expect," "project," "intend," "may" or similar expressions. 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 changes in the retail and real estate industries, including consolidation and store closings, particularly among anchor tenants; current economic conditions and the corresponding effects on tenant business performance, prospects, solvency and leasing decisions; our inability to collect rent due to the bankruptcy or insolvency of tenants or otherwise; our ability to maintain and increase property occupancy, sales and rental rates; increases in operating costs that cannot be passed on to tenants; the effects of online shopping and other uses of technology on our retail tenants; risks related to our development and redevelopment activities, including delays, cost overruns and our inability to reach projected occupancy or rental rates; acts of violence at malls, including our properties, or at other similar spaces, and the potential effect on traffic and sales; our ability to sell properties that we seek to dispose of or our ability to obtain prices we seek; potential losses on impairment of certain long-lived assets, such as real estate, including losses that we might be required to record in connection with any disposition of assets; our substantial debt and the liquidation preference of our preferred shares and our high leverage ratio; our ability to refinance our existing indebtedness when it matures, on favorable terms or at all; our ability to raise capital, including through sales of properties or interests in properties and through the issuance of equity or equity-related securities if market conditions are favorable; and potential dilution from any capital raising transactions or other equity issuances.
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 herein and in our Annual Report on Form 10-K for the year ended December 31, 2019 in the section entitled "Item 1A. Risk Factors", our Quarterly Reports on Form 10-Q for the quarterly periods ended June 30, 2019 and September 30, 2019 in the section entitled "Item 1A. Risk Factors" and any subsequent reports we may file with the Securities and Exchange Commission. We do not intend to update or revise any forward-looking statements to reflect new information, future events or otherwise.
CONTACT:
Heather Crowell
EVP, Strategy and Communications
(215) 454-1241
heather.crowell@preit.com
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SOURCE PREIT