PHILADELPHIA, Jan. 16, 2015 /PRNewswire/ -- PREIT
(PREIT/NYSE: PEI) today announced that the tax status of the
distributions paid per share during 2014 is as follows:
COMMON
SHARES
|
IRS Form
1099-DIV
|
CUSIP: 709 102
107
|
2014
|
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
|
Nondividend
|
Date
|
Date
|
Date
|
Distribution
|
Dividends
|
Gain
Distribution
|
Sec.
1250
|
Distributions
|
|
|
|
Per
Share
|
|
|
Gain
|
|
3/3/2014
|
2/27/2014
|
3/17/2014
|
$0.200000
|
$0.026524
|
$0.000000
|
$0.000000
|
$0.173476
|
6/2/2014
|
5/29/2014
|
6/16/2014
|
$0.200000
|
$0.026462
|
$0.000000
|
$0.000000
|
$0.173538
|
9/2/2014
|
8/28/2014
|
9/16/2014
|
$0.200000
|
$0.026424
|
$0.000000
|
$0.000000
|
$0.173576
|
12/1/2014
|
11/26/2014
|
12/15/2014
|
$0.200000
|
$0.026415
|
$0.000000
|
$0.000000
|
$0.173585
|
Totals for
2014
|
$0.800000
|
$0.105825
|
$0.000000
|
$0.000000
|
$0.694175
|
8.25% Series A -
PREFERRED SHARES
|
IRS Form
1099-DIV
|
CUSIP: 709 102
404
|
2014
|
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
|
Nondividend
|
Date
|
Date
|
Date
|
Distribution
|
Dividends
|
Gain
Distribution
|
Sec.
1250
|
Distributions
|
|
|
|
Per
Share
|
|
|
Gain
|
|
3/3/2014
|
2/27/2014
|
3/17/2014
|
$0.515625
|
$0.515625
|
$0.000000
|
$0.000000
|
$0.000000
|
6/2/2014
|
5/29/2014
|
6/16/2014
|
$0.515625
|
$0.515625
|
$0.000000
|
$0.000000
|
$0.000000
|
9/2/2014
|
8/28/2014
|
9/16/2014
|
$0.515625
|
$0.515625
|
$0.000000
|
$0.000000
|
$0.000000
|
12/1/2014
|
11/26/2014
|
12/15/2014
|
$0.515625
|
$0.515625
|
$0.000000
|
$0.000000
|
$0.000000
|
Totals for
2014
|
$2.062500
|
$2.062500
|
$0.000000
|
$0.000000
|
$0.000000
|
7.375% Series B -
PREFERRED SHARES
|
IRS Form
1099-DIV
|
CUSIP: 709 102
503
|
2014
|
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
|
Nondividend
|
Date
|
Date
|
Date
|
Distribution
|
Dividends
|
Gain
Distribution
|
Sec.
1250
|
Distributions
|
|
|
|
Per
Share
|
|
|
Gain
|
|
3/3/2014
|
2/27/2014
|
3/17/2014
|
$0.460938
|
$0.460938
|
$0.000000
|
$0.000000
|
$0.000000
|
6/2/2014
|
5/29/2014
|
6/16/2014
|
$0.460938
|
$0.460938
|
$0.000000
|
$0.000000
|
$0.000000
|
9/2/2014
|
8/28/2014
|
9/16/2014
|
$0.460938
|
$0.460938
|
$0.000000
|
$0.000000
|
$0.000000
|
12/1/2014
|
11/26/2014
|
12/15/2014
|
$0.460938
|
$0.460938
|
$0.000000
|
$0.000000
|
$0.000000
|
Totals for
2014
|
$1.843752
|
$1.843752
|
$0.000000
|
$0.000000
|
$0.000000
|
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 2014, 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 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 owns and operates over 29
million square feet of space in properties in 12 states in the
eastern half of the United States
with concentration in the Mid-Atlantic region and Greater
Philadelphia. 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 preit.com or on Twitter or
LinkedIn.
Forward Looking Statements
This press release
contains certain "forward-looking statements" within the meaning of
the federal securities laws. 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, stated value of preferred shares and our high
leverage ratio; constraining leverage, interest and tangible net
worth covenants under our 2013 Revolving Facility, our 2014 Term
Loans and Letter of Credit; potential losses on impairment of
certain long-lived assets, such as real estate, or of intangible
assets, such as goodwill, including such losses that we might be
required to record in connection with any dispositions of assets;
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 ability to identify and execute on suitable
acquisition opportunities and to integrate acquired properties into
our portfolio; our partnerships and joint ventures with third
parties to acquire or develop properties; our short- and long-term
liquidity position; current economic conditions and their effect on
employment, 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 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 sell properties that we seek to dispose of or our
ability to obtain estimated sale prices; 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; acts of violence at malls,
including our properties, or at other similar spaces, and the
potential effect on traffic and sales; 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; and potential dilution from any capital
raising transactions. 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 our most recent Annual Report on Form
10-K and in any subsequent Quarterly Report on Form 10-Q 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) 454-1241
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SOURCE PREIT