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Pennsylvania Real Estate: Q4 Earnings Snapshot
By AP News - Mar 22, 2023, 07:15 AM ET
Last Updated - May 01, 2024, 12:26 AM EDT
Pennsylvania Real Estate Investment Trust (PRET) on Wednesday reported a loss in a key measure in its fourth quarter
PHILADELPHIA (AP) — PHILADELPHIA (AP) — Pennsylvania Real Estate Investment Trust (PRET) on Wednesday reported a loss in a key measure in its fourth quarter.
The real estate investment trust, based in Philadelphia, said it had a funds from operations loss of $4.7 million, or 88 cents per share, in the period.
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Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $41.5 million, or $7.81 per share.
The shopping mall real estate investment trust, based in Philadelphia, posted revenue of $80.7 million in the period.
For the year, the company reported funds from operations of $6.4 million. Revenue was reported as $296 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a PRET">Zacks stock report on PRET at https://www.zacks.com/ap/PRET
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