Marketable Securities

3 Months Ended

Mar. 31, 2020

Marketable Securities [Abstract]

Marketable Securities

Marketable Securities

Pennsylvania Real Estate Investment Trust (“PREIT”) (NYSE: PEI)

On January 23, 2020, we sold all of our 6,250,000 common shares of PREIT, realizing net proceeds of $28,375,000. We recorded a $4,938,000 loss (mark-to-market decrease) for the three months ended March 31, 2020.

The table below summarizes the changes of our investment in PREIT.

(Amounts in thousands)	For the Three Months Ended March 31, 2020
Balance as of December 31, 2019	$	33,313
Sale of marketable securities on January 23, 2020	(28,375		)
Decrease in fair value of marketable securities(1)	(4,938		)
Balance as of March 31, 2020	$	—

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(1)

Included in “interest and other investment (loss) income, net” on our consolidated statements of income (see Note 17 - Interest and Other Investment (Loss) Income, Net).