PREIT Declares Quarterly Dividend for Common and Preferred Shares

PHILADELPHIA, Nov. 21, 2014 /PRNewswire/ -- Pennsylvania Real Estate Investment Trust PEI announced today that its Board of Trustees has declared a quarterly cash dividend of $0.20 per common share.  The dividend is payable on December 15, 2014 to common shareholders of record on December 1, 2014. The December 15^th dividend payment will be the Company's 151^st consecutive distribution since its initial dividend paid in August of 1962.

PEI has a primary focus on the ownership and management of differentiated retail shopping malls crafted to fit the dynamic communities they serve. The Company operates properties in 12 states in the eastern U.S. with concentration in the Mid-Atlantic and Greater Philadelphia region. The Company is headquartered in Philadelphia, Pennsylvania. More information about PREIT can be found at www.preit.com or on Twitter or LinkedIn." border="0" alt="PREIT PEI has a primary focus on the ownership and management of differentiated retail shopping malls crafted to fit the dynamic communities they serve. The Company operates properties in 12 states in the eastern U.S. with concentration in the Mid-Atlantic and Greater Philadelphia region. The Company is headquartered in Philadelphia, Pennsylvania. More information about PREIT can be found at www.preit.com or on Twitter or LinkedIn." align="middle" src="http://photos.prnewswire.com/prnvar/20130905/MM75091LOGO"/>

The Company also announced today that its Board of Trustees has declared quarterly cash dividends of $0.515625 per share on its 8.25% Series A Cumulative Redeemable Perpetual Preferred Shares and $0.460938 per share on its 7.375% Series B Cumulative Redeemable Perpetual Preferred Shares.  These dividends are payable on December 15, 2014 to holders of record on December 1, 2014.

About Pennsylvania Real Estate Investment Trust

PREIT is a real estate investment trust specializing in the ownership and management of differentiated retail shopping malls designed to fit the dynamic communities they serve.  Founded in 1960 as Pennsylvania Real Estate Investment Trust, the Company owns and operates over 29 million square feet of space in properties in 12 states in the eastern half of the United States with concentration in the Mid-Atlantic region and Greater Philadelphia.  PREIT is headquartered in Philadelphia, Pennsylvania, and is publicly traded on the NYSE under the symbol PEI.  Information about the Company can be found at preit.com or on Twitter or LinkedIn.

CONTACT: AT THE COMPANY
Robert McCadden
EVP & CFO
(215) 875-0735

Heather Crowell
VP, Corporate Communications and Investor Relations
(215) 454-1241

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SOURCE PREIT