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Stock Market & Financial Investment News

News Breaks
March 15, 2013
07:01 EDTPEBPebblebrook Hotel increases common dividend 33% to 16c per share
Pebblebrook Hotel Trust announced that its Board of Trustees has authorized, and the company has declared, a quarterly cash dividend of 16c per common share of beneficial interest, to be paid on April 15 to shareholders of record as of April 1. The common dividend represents an increase of approximately 33% over the company’s fourth quarter 2012 quarterly dividend and represents an annualized yield of approximately 2.6% based on the closing price of the common shares on March 14. The Board of Trustees also authorized, and the company has declared, a regular quarterly cash dividend of 49.22c per share of the Company’s 7.875% Series A Cumulative Redeemable Preferred Shares of Beneficial Interest, a regular quarterly cash dividend of 50c per share of the company’s 8.00% Series B Cumulative Redeemable Preferred Shares of Beneficial Interest, and a cash dividend for the partial quarterly period of 12.19c per share of the company’s new 6.50% Series C Cumulative Redeemable Preferred Shares of Beneficial Interest, each of which will be paid on April 15 to shareholders of record as of the Record Date.
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July 23, 2014
08:41 EDTPEBPebblebrook Hotel initiated with a Neutral at ISI Group
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July 17, 2014
16:30 EDTPEBPebblebrook Hotel acquires the Nines Hotel in Portland, Oregon for $127M
Pebblebrook Hotel has acquired The Nines Hotel for $127.0M, a 331-room luxury hotel located in downtown Portland, Oregon. The company acquired a fee simple condominium interest in The Nines Hotel. During the next 12 months, the Company currently forecasts that the hotel will generate EBITDA of $12.0M-$12.6M and net operating income after capital reserves of $10.4M-$11.0M. In conjunction with the acquisition, the company is assuming three secured, non-recourse loans totaling $50.7M, which are subject to a weighted average interest rate of 7.4%. Each of the loans matures on March 5, 2015. The company expects to invest $6.0M-$8.0M of capital to refresh the guestrooms and public areas, which it anticipates commencing in Q15. The company expects to incur approximately $0.8M of costs related to the acquisition of the hotel that will be expensed as incurred.

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