Dividends4Life: How 1 High-Yield REIT Saved Itself From Sears

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How 1 High-Yield REIT Saved Itself From Sears

Posted by D4L | Wednesday, November 14, 2018 | | 0 comments »

As Sears Holdings has tumbled toward bankruptcy in the past few years, its massive store base has become a huge liability for many mall owners. For some landlords, the problem was simply having a deadweight anchor that wasn't driving much traffic to the mall. In other cases, Sears has closed stores over the past few years -- or is poised to do so after filing for bankruptcy last week -- leaving a huge swath of vacant mall real estate in its wake.

Not too long ago, Pennsylvania Real Estate Investment Trust (NYSE:PEI) would have been severely impacted by Sears' woes. However, the mall REIT has done a remarkable job of reducing its exposure to Sears in recent years. As a result, the Sears Holdings bankruptcy doesn't pose a major threat to PREIT's financial performance -- or its generous 9.3% dividend yield.

Source: Motley Fool

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