PREIT Schedules Fourth Quarter 2022 Earnings Release and Conference Call

Rhea-AI Summary

PREIT (OTC:PRET) has announced the release date for its financial results for the fourth quarter and full year ending December 31, 2022. The results will be disclosed before market trading begins on March 22, 2023. A conference call to discuss these results and the company's future outlook is scheduled for 11:00 a.m. ET on the same day. Investors can join through a dedicated phone line or the internet. Additionally, PREIT has partnered with Say Technologies to enhance communication with shareholders, enabling them to ask questions starting March 10, 2023.

Positive

• Scheduled earnings release for Q4 2022 on March 22, 2023.
• Conference call to review results and future outlook, promoting transparency.
• Partnership with Say Technologies to improve shareholder engagement.

Negative

• None.

PHILADELPHIA, March 2, 2023 /PRNewswire/ -- PREIT (OTC:PRET) intends to release its financial results for the quarter and year ending December 31, 2022 before market trading begins on Wednesday, March 22, 2023. 

Management has scheduled a conference call for 11:00 a.m. Eastern Time on Wednesday, March 22, 2023, to review the Company's results and future outlook. To listen to the call, please dial 1 (888) 330-2024 (domestic toll free), or 1 (646) 960-0187 (international), and request to join the PREIT call, Conference ID 9326912, at least fifteen minutes before the scheduled start time as callers could experience delays. Investors can also access the call in a "listen only" mode via the internet at the Company's website, preit.com. Please allow extra time prior to the call to visit the site and download the necessary software to listen to the Internet broadcast. Financial and statistical information expected to be discussed on the call will also be available on the Company's website.

For interested individuals unable to join the conference call, the online archive of the webcast will also be available for one year following the call.

In order to be more accessible to shareholders, PREIT has partnered with Say Technologies, LLC, a Robinhood Markets company, which has built an innovative communication platform to make it easier for investors to exercise their ownership rights. The Company expects to begin accepting questions via the Q&A platform on March 10, 2023 and will issue an announcement when the platform opens.

About PREIT

PREIT (OTC:PRET) is a real estate investment trust that owns and manages innovative properties developed to be thoughtful, community-centric hubs. PREIT's robust portfolio of carefully curated, ever-evolving properties generates success for its tenants and meaningful impact for the communities it serves by keenly focusing on five core areas of established and emerging opportunity: multi-family & hotel, health & tech, retail, essentials & grocery and experiential. Located primarily in densely-populated regions, PREIT is a top operator of high quality, purposeful places that serve as one-stop destinations for customers to shop, dine, play and stay. Additional information is available at www.preit.com or on Twitter, Instagram 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, the effectiveness of strategies we may employ to address our liquidity and capital resources in the future, 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 bankruptcies, consolidation and store closings, particularly among anchor tenants; current economic conditions, including consumer confidence and spending levels and supply chain challenges and the impact of the COVID-19 pandemic and the public health and governmental response as well as 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 sell properties that we seek to dispose of, which may be delayed by, among other things, the failure to obtain zoning, occupancy and other governmental approvals and permits or, to the extent required, approvals of other third parties or our ability to obtain prices we seek; 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; social unrest and acts of vandalism and violence at malls, including our properties, or at other similar spaces, and the potential effect on traffic and sales; the frequency, severity and impact of extreme weather events at or near our properties; 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, 2021 and in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022. We do not intend to update or revise any forward-looking statements to reflect new information, future events or otherwise. 

Contact: 

Heather Crowell

heather@gregoryfca.com

preit@gregoryfca.com

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SOURCE PREIT

FAQ

When will PREIT release its financial results for Q4 2022?

PREIT will release its financial results on March 22, 2023.

What time is the PREIT conference call scheduled for?

The conference call is scheduled for 11:00 a.m. ET on March 22, 2023.

How can investors access the PREIT conference call?

Investors can join the call by dialing 1 (888) 330-2024 for domestic calls or 1 (646) 960-0187 for international calls.

What new communication platform has PREIT partnered with?

PREIT has partnered with Say Technologies to enhance communication with shareholders.

When will the Q&A platform for shareholders open?

The Q&A platform will open on March 10, 2023.