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No. of Recommendations: 5
The other good news is full yr guidance reaffirmed and occupancy up 100 basis points.

PREIT (NYSE:PEI) gains 0.7% in after-hours trading after Q1 adjusted FFO of $20.7M, or 26 cents per share, matched the average analyst estimate.

Compares with $22.2M, or 28 cents per share, in the year-ago quarter.

Q1 revenue of $85.3M falls short of the consensus estimate of $88.8M and fell from $86.3M a year ago.

Core mall total occupancy was 94.7%, up 100 basis points from March 31, 2018.

Q1 same-store NOI rose 2.2%.

Lower revenue from tenants that filed for bankruptcy protection in 2018 and 2019 reduced Q1 same-store NOI by $0.5M vs. last year's Q1; impact of co-tenancy adjustments on same-store NOI wasn't material.

Affirms full-year adjusted FFO guidance

Conference call on May 3 at 11:00 AM ET.
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