PHILADELPHIA—Pennsylvania Real Estate InvestmentTrust (PREIT) is giving its shareholders a 20-centdividend per common share after having a very busy second quarter.The news comes as the major mall REIT is releasing its Q2 results,for the period which ended June 30, after the market closes on July29.
PREIT, which owns and operates 30 million square feet of retailspace, most of it enclosed malls, has made a lot of news during itssecond quarter, the bulk of it dealing with existing assets.
Just last week, the REIT announced that is singed onnew tenants at its Moorsetown [NJ] Mall, includingfashion designers Erdon andZeyzani, as well as the first OrangetheoryFitness in the area. PREIT management calls thiscollection of new stores part of its "Boutique Row" underdevelopment.
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