PREIT is currently in an unusual position. The stock is so low that it might be delisted soon from NYSE so the logic would dictate to stay as far away as I can. However, I read the transcript of their investors' call, and I really liked what I saw. Especially the part where they are selling a bunch of non-core properties to be able to pay down debt. I think they're making the right moves and if they stay listed, the stock will recover and then some. This means it could be a good and very, very cheap buy right now. I understand it's a major risk, but at this price, I'm not sure I can resist it.
1 reply
Are you insane? They said they don't know if they'll be able to stay in business this year. If that creates a situation for you that you can't resist, you have a problem, buddy.