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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.
News For PEB From The Last 14 Days
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December 18, 2014
16:05 EDTPEBPebblebrook Hotel acquires the Revere Hotel Boston Common in Boston
Pebblebrook Hotel Trust announced that it has acquired the Revere Hotel Boston Common, an attached 826-space parking garage and an adjacent land parcel for $260.4M. The 356-room hotel is located in the heart of the historic Theater District of downtown Boston, Massachusetts. For the trailing twelve months ended November 2014, the Revere Hotel operated at 87% occupancy, with an average daily rate of $231 and room revenue per available room of $202. In 2015, the company currently forecasts that the hotel will generate earnings before interest, taxes, depreciation and amortization, EBITDA, of $18.0 to $18.5M and net operating income after capital reserves of $16.2 to $16.7M. The company expects to incur approximately $0.5Mof costs related to the acquisition of the hotel.
December 11, 2014
09:01 EDTPEBPebblebrook Hotel acquires Union Station Hotel in Nashville for $52.3M
Pebblebrook Hotel Trust announced that it has acquired Union Station Hotel, Autograph Collection for $52.3M. The 125-room iconic historic landmark hotel is located on Broadway, in the center of downtown Nashville, Tennessee. The property will maintain its association with Marriott’s Autograph Collection and will be operated by Sage Hospitality.

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