Le Lézard
Classified in: Business, Covid-19 virus
Subject: DIV

PREIT Reports Tax Status of 2020 Distributions


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
[email protected]

SOURCE PREIT


These press releases may also interest you

at 10:21
The bargaining committee representing members of Expertech, a wholly owned Bell Canada Enterprises Inc. company, is gearing up for a crucial strike vote, signaling the potential for imminent strike action. Following months of negotiation and the...

at 10:21
Highlights of the Annual Results as of December 31, 2023: Revenue reached RMB2,155.6 millionGross profit amounted to RMB738.5 millionAdjusted non-IFRS net loss improved to RMB208.8 million, representing a significant turnaround from a negative...

at 10:17
The life insurance comparison site QuickQuote.com recently published a guide to accidental death and dismemberment (AD&D) insurance. It revealed that some plans cost only $4 a month and provide $100,000 in coverage....

at 10:16
Quarterra Multifamily, a subsidiary of Lennar Corporation and a vertically integrated multifamily apartment builder, developer and property manager, today announced the continued growth and success of Quarterra Emblem Communities with the opening of...

at 10:15
For the fourth consecutive year, BMO has been recognized in the 2024 Report on Business, Women Lead Here list ? an annual benchmark recognizing Canadian businesses with the highest achievement for executive gender diversity.  In line with its...

at 10:15
Chartis, a comprehensive healthcare advisory firm, today announced that its line of business focused on helping medical staff services departments (MSSDs) transform to elevate performance will restore its former name?Greeley, A Chartis Company. It...



News published on and distributed by: