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SUMMARY OF QUARTERLY RESULTS (UNAUDITED) (Tables)
 12 Months Ended
Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]  
Summary of Financial Information
The following presents a summary of the unaudited quarterly financial information for the years ended December 31, 2014 and 2013:
 
(in thousands of dollars, except per share amounts)
For the Year Ended December 31, 2014
1st Quarter
 
2nd Quarter
 
3rd Quarter
 
4th Quarter(1)
 
Total
Revenue from continuing operations
$
109,386

 
$
106,825

 
$
105,137

 
$
111,355

 
$
432,703

Net income (loss)(2)(3)
(8,356
)
 
(24,050
)
 
(886
)
 
19,030

 
(14,262
)
Net income (loss) attributable to PREIT(2)(3)
(8,104
)
 
(23,325
)
 
(859
)
 
18,458

 
(13,830
)
Net income (loss) per share – basic
(0.18
)
 
(0.40
)
 
(0.07
)
 
0.21

 
(0.44
)
Net income (loss) per share – diluted
(0.18
)
 
(0.40
)
 
(0.07
)
 
0.21

 
(0.44
)
 
(in thousands of dollars, except per share amounts)
For the Year Ended December 31, 2013
1st Quarter
 
2nd Quarter
 
3rd Quarter
 
4th Quarter(1)
 
Total
Revenue from continuing operations
$
104,065

 
$
104,943

 
$
110,274

 
$
119,396

 
$
438,678

Revenue from discontinued operations
4,143

 
2,746

 
2,491

 
634

 
10,014

Income (loss) from discontinued operations(2)
34,276

 
1,000

 
21,978

 
408

 
57,662

Net income (loss)(2)(3)
25,807

 
(9,009
)
 
12,584

 
7,831

 
37,213

Net loss attributable to PREIT(3)
24,802

 
(8,695
)
 
12,202

 
7,550

 
35,859

Income (loss) from discontinued operations per share – basic and diluted
0.59

 
0.02

 
0.32

 
0.01

 
0.87

Net loss per share – basic and diluted
0.37

 
(0.20
)
 
0.12

 
0.05

 
0.31

 
(1) 
Fourth Quarter revenue includes a significant portion of annual percentage rent as most percentage rent minimum sales levels are met in the fourth quarter.
(2) 
Includes impairment losses of $1.3 million (1st Quarter 2014), $16.1 million (2nd Quarter 2014) and $2.3 million (3rd Quarter 2014). Includes impairment losses on discontinued operations of $23.7 million (3rd Quarter 2013).
(3) 
Includes gains on sales of interests in real estate of $13.1 million (4th Quarter 2014) and gains on sales of non operating real estate of $1.8 million (4th Quarter 2014). Includes gains on sales of discontinued operations (before non controlling interest) of $33.4 million (1st Quarter 2013), $45.1 million (3rd Quarter 2013).