FORT WASHINGTON, Pa., Jan. 14 /PRNewswire/ -- Pennsylvania Real Estate
Investment Trust (NYSE: PEI) announced that its Board of Trustees has declared
a quarterly cash dividend of $0.47 per share at a meeting held on January 12,
1998. The dividend will be paid on March 16, 1998 to shareholders and
unitholders of record on February 27, 1998.
The March 16, 1998 dividend payment will be PREIT's 84th consecutive
distribution since its initial dividend paid in August of 1962. Throughout
its history, the Trust has never omitted or reduced a shareholder dividend.
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 apartment
communities (7,236 units) and shopping centers (6 million square feet) located
primarily in the eastern United States. PREIT's portfolio currently consists
of 45 properties in 10 states. PREIT is headquartered in Fort Washington,
Pennsylvania, a suburb of Philadelphia.
SOURCE Pennsylvania Real Estate Investment Trust
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CONTACT:
Dante J. Massimini, Senior Vice President and
Treasurer of Pennsylvania Real Estate Investment Trust,
215-542-9250; or Julie Gottlieb, General Info, 212-661-8030, or
Claire Koeneman, Analyst Info, 312-266-7800, or Judith
Sylk-Siegel, Media Info, 212-661-8030, all of The Financial
Relations Board for Pennsylvania Real Estate Investment Trust
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