PHILADELPHIA, Jan. 19, 2021 /PRNewswire/ -- PREIT (NYSE:
PEI) today announced that the tax status of the distributions paid
per share during 2020 is as follows:
COMMON
SHARES
|
IRS Form
1099-DIV
|
CUSIP: 709 102
107
|
2020
|
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
|
|
|
03/02/2020
|
02/28/2020
|
03/16/2020
|
$0.210000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.210000
|
$0.000000
|
06/01/2020
|
05/29/2020
|
06/15/2020
|
$0.020000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.020000
|
$0.000000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Totals for
2020
|
$0.230000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.230000
|
$0.000000
|
|
|
|
|
|
|
|
|
|
7.375% Series B -
PREFERRED SHARES
|
IRS Form
1099-DIV
|
CUSIP: 709 102
503
|
2020
|
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
|
|
|
03/02/2020
|
02/28/2020
|
03/16/2020
|
$0.460938
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.460938
|
$0.000000
|
06/01/2020
|
05/29/2020
|
06/15/2020
|
$0.460938
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.460938
|
$0.000000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Totals for
2020
|
$0.921876
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.921876
|
$0.000000
|
|
|
|
|
|
|
|
|
|
7.200% Series C -
PREFERRED SHARES
|
IRS Form
1099-DIV
|
CUSIP: 709 102
602
|
2020
|
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
|
|
|
03/02/2020
|
02/28/2020
|
03/16/2020
|
$0.450000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.450000
|
$0.000000
|
06/01/2020
|
05/29/2020
|
06/15/2020
|
$0.450000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.450000
|
$0.000000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Totals for
2020
|
$0.900000
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.900000
|
$0.000000
|
|
|
|
|
|
|
|
|
|
6.875% Series D -
PREFERRED SHARES
|
IRS Form
1099-DIV
|
CUSIP: 709 102
701
|
2020
|
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
|
|
|
03/02/2020
|
02/28/2020
|
03/16/2020
|
$0.429688
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.429688
|
$0.000000
|
06/01/2020
|
05/29/2020
|
06/15/2020
|
$0.429688
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.429688
|
$0.000000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Totals for
2020
|
$0.859376
|
$0.000000
|
$0.000000
|
$0.000000
|
$0.859376
|
$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 2020, which will be reported
on IRS Form 1099-DIV. Shareholders are encouraged to consult with
their tax advisors regarding the proper tax treatment of the
amounts disclosed above.
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
innovative properties at the forefront of shaping consumer
experiences through the built environment. PREIT's robust portfolio
of carefully curated retail and lifestyle offerings mixed with
destination dining and entertainment experiences are located
primarily in densely-populated, high barrier-to-entry markets with
tremendous opportunity to create vibrant multi-use
destinations.
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 expectations and
assumptions regarding our business, the economy and other future
events and conditions and are based on currently available
financial, economic and competitive data and our current business
plans. Actual results could vary materially depending on risks,
uncertainties and changes in circumstances that may affect our
operations, markets, services, prices and other factors as
discussed in the Risk Factors section of our other filings with the
Securities and Exchange Commission. While we believe our
assumptions are reasonable, we caution you against relying on any
forward-looking statements as it is very difficult to predict the
impact of known factors, and it is impossible for us to anticipate
all factors that could affect our actual results. Important factors
that could cause actual results to differ materially from those in
the forward-looking statements include, but are not limited to, our
ability to achieve our forecasted revenue and pro forma leverage
ratio and generate free cash flow to further reduce our
indebtedness; our ability to manage our business through the
impacts of the COVID-19 pandemic, a weakening of global economic
and financial conditions, changes in governmental regulations and
related compliance and litigation costs and the other factors
listed in our SEC filings. Additionally, 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,
including the impact of the COVID-19 pandemic and the steps taken
by governmental authorities and other third parties to reduce its
spread, 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; our substantial debt and the
liquidation preference of our preferred shares and our high
leverage ratio and our ability to remain in compliance with our
financial covenants under our debt facilities; 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 the sections entitled "Item 1A. Risk Factors" in our Annual
Report on Form 10-K for the year ended December 31, 2019 and in our Quarterly Report on
Form 10-Q for the quarterly period ended September 30, 2020. We do not intend to update or
revise any forward-looking statements to reflect new information,
future events or otherwise.
PREIT Contact:
Heather
Crowell
EVP, Strategy and Communications
heather.crowell@preit.com
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SOURCE PREIT