Pennsylvania Real Estate Investment Trust (NYSE: PEI) today announced that the tax status of the distributions paid per share during 2007 is as follows:
COMMON SHARES | IRS Form 1099-DIV | ||||||||||||
CUSIP: 709 102 107 | 2007 | Box 1a | Long Term Capital Gain | Box 3 | |||||||||
NYSE Ticker Symbol: PEI | Box 2a | Box 2b | |||||||||||
Record Date | Ex-Dividend Date | Payable Date | Total Distribution Per Share | Ordinary Dividends | Total Capital Gain Distribution | Un -recaptured Sec. 1250 Gain | Nontaxable Distri -butions | ||||||
3/1/2007 | 2/27/2007 | 3/15/2007 | $ 0.570000 | $ 0.526358 | $- | $ - | $ 0.043642 | ||||||
6/1/2007 | 5/30/2007 | 6/15/2007 | 0.570000 | 0.526358 | - | - | 0.043642 | ||||||
8/31/2007 | 8/29/2007 | 9/17/2007 | 0.570000 | 0.526358 | - | - | 0.043642 | ||||||
11/30/2007 | 11/28/2007 | 12/17/2007 | 0.570000 | 0.526358 | - | - | 0.043642 | ||||||
Totals for 2007 | $ 2.280000 | $ 2.105432 | $ - | $ - | $ 0.174568 |
11% Senior Preferred Shares | IRS Form 1099-DIV | |||||||||||||
CUSIP: 709 102 206 | 2007 | Box 1a | Long Term Capital Gain | Box 3 | ||||||||||
NYSE Ticker Symbol: PEIPRA | Box 2a | Box 2b | ||||||||||||
Record Date | Ex-Dividend Date | Payable Date | Total Distribution Per Share | Ordinary Dividends | Total Capital Gain Distribution | Un -recaptured Sec. 1250 Gain | Nontaxable Distri -butions | |||||||
3/1/2007 | 2/27/2007 | 3/15/2007 | $ 1.375000 | $ 1.375000 | $ - | $ - | $ - | |||||||
6/1/2007 | 5/30/2007 | 6/15/2007 | 1.375000 | 1.375000 | - | - | - | |||||||
7/31/2007 | 7/31/2007 | 7/31/2007 | 0.748600 | 0.748600 | - | - | - | |||||||
Totals for 2007 | $ 3.498600 | $ 3.498600 | $ - | $ - | $ - |
The above reflects the total amounts of distributions paid by PREIT on its outstanding common and preferred shares during 2007, 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.
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) at www.nareit.com or at (800) 3-NAREIT (800-362-7348).
About Pennsylvania Real Estate Investment Trust
Pennsylvania Real Estate Investment Trust, founded in 1960 and one of the first equity REITs in the U.S., has a primary investment focus on retail shopping malls and power centers. Currently, the Company's retail portfolio is approximately 34 million square feet and consists of 55 properties, including 38 shopping malls, 11 strip and power centers, and six properties under development. The Company's properties are located in 13 states in the eastern half of the United States, primarily in the Mid-Atlantic region. PREIT is headquartered in Philadelphia, Pennsylvania. The Company's website can be found at www.preit.com. PREIT is publicly traded on the NYSE under the symbol PEI.
This press release contains certain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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 PREIT’s current views about future events 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. More specifically, PREIT’s business might be affected by uncertainties affecting real estate businesses generally as well as the following, among other factors: general economic, financial and political conditions, including changes in interest rates or the possibility of war or terrorist attacks; changes in local market conditions or other competitive or retail industry factors in the regions where our properties are concentrated; PREIT’s ability to maintain and increase property occupancy and rental rates, and risks relating to development or redevelopment activities, including construction, obtaining entitlements and managing multiple projects simultaneously. Additionally, there can be no assurance that PREIT’s actual results will not differ significantly from the estimates set forth above, or that PREIT’s returns on its developments, redevelopments or acquisitions will be consistent with the estimates outlined in press releases or other disclosures. Investors are also directed to consider the risks and uncertainties discussed in documents PREIT has filed with the Securities and Exchange Commission and, in particular, PREIT's Annual Report on Form 10-K for the year ended December 31, 2006. PREIT does not intend to update or revise any forward-looking statements to reflect new information, future events or otherwise.
** Additional information about PREIT is available on www.preit.com **
Contacts:
Robert McCadden, EVP and
CFO, 215-875-0735
or
Nurit Yaron, VP, Investor Relations,
215-875-0735