PHILADELPHIA, Penn., Oct. 20 /PRNewswire/ -- Pennsylvania Real Estate
Investment Trust (NYSE: PEI) announced today that it has declared a quarterly
cash dividend of $0.47 per share. The dividend will be paid on December 15,
1999 to shareholders and unitholders of record on November 30, 1999.
The December 15, 1999 dividend payment will be PREIT's 91st consecutive
distribution since its initial dividend paid in August of 1962. Throughout
its history, the Company 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 shopping
centers (approximately 8.1 million square feet) and apartment communities
(7,242 units) located primarily in the eastern United States. The Company's
portfolio currently consists of 46 properties in 10 states. In addition,
there are 6 retail properties under development, which will add approximately
2.9 million square feet to the portfolio. Pennsylvania Real Estate Investment
Trust is headquartered in Philadelphia, Pennsylvania.
SOURCE Pennsylvania Real Estate Investment Trust
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Related links:
http://www.preit.com
CONTACT:
Edward A. Glickman, Executive Vice President
and CFO of Pennsylvania Real Estate Investment Trust,
215-875-0700; or General, Joe Calabrese, Analysts, Pamela King,
or Media, Judith Sylk-Siegel, 212-661-8030, of The Financial
Relations Board
NOTE TO EDITORS: To receive additional information on
Pennsylvania Real Estate Investment Trust via fax at no charge,
please dial 1-800-PRO-INFO and enter the ticker symbol PEI.
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