Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

PREIT says its exposure to Sears reduced to four stores

Published 10/10/2018, 04:45 PM
Updated 10/10/2018, 04:45 PM
© Reuters.  PREIT says its exposure to Sears reduced to four stores
  • PREIT (NYSE:PEI) says it's Sears (NASDAQ:SHLD) replacement strategy has resulted in minimal exposure to the troubled department-store chain
  • When factoring in locations at lease with replacement tenants, those with non-recourse mortgage loans, and one location with a significant portion of space sub-leased by Sears to others, PREIT's exposure now amounts to four stores, down from 27 stores in 2012.
  • Since 2017, PREIT has replaced five Sears locations and has reached agreement to recapture a sixth store, it says.
  • Furthermore, PREIT says it has diversified its tenant roster with "unique and experiential concepts" to drive traffic and sales while improving underlying tenant credit within its portfolio.
  • Previously: REITs with Sears exposure drop (Oct. 10)
  • Now read: Sears Holdings Continues To Edge Towards Restructuring


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.