Pennsylvania Real Estate: Q1 Earnings Snapshot

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PHILADELPHIA (AP) _ Pennsylvania Real Estate Investment Trust (PEI) on Thursday reported a loss in a key measure in its first quarter.

The real estate investment trust, based in Philadelphia, said it had a funds from operations loss of $4.8 million, or 6 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $39.3 million, or 49 cents per share.

The shopping mall real estate investment trust, based in Philadelphia, posted revenue of $69.4 million in the period.



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