As its shares continue to linger under $1, Pennsylvania Real Estate Investment Trust, the owner of the Plymouth Meeting Mall and the Willow Grove Mall, is facing possible delisting from the New York Stock Exchange, writes Natalie Kostelni for the Philadelphia Business Journal.
A company needs to maintain a minimum closing price of one dollar over a 30-day period to remain active on the exchange. PREIT received formal notice from the NYSE at the start of the month that its shares were not in compliance with these standards.
PREIT said it plans to regain their compliance.
The company’s stock went under $1 in December before going up for several days and then went back to trading under $1 again on January 18. The stock was trading at 90 cents a share as of Friday.
Click here to read the rest of the article written by Christine Tarlecki over at MONTCO
