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Stock Market & Financial Investment News

News Breaks
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.
News For PEB From The Last 14 Days
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May 26, 2015
09:58 EDTPEBOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: L Brands (LB) upgraded to Conviction Buy from Buy at Goldman... Dollar General (DG) upgraded to Conviction Buy from Buy at Goldman... Accenture (ACN) upgraded to Outperform from Market Perform at Cowen... Expedia (EXPE) upgraded to Outperform from Market Perform at JMP Securities... The Fresh Market (TFM) upgraded to Neutral from Underperform at Longbow... Marvell (MRVL) upgraded to Overweight from Equal Weight at Morgan Stanley... Health Care REIT (HCN) upgraded to Buy from Neutral at Mizuho... Gold Fields (GFI) upgraded to Buy from Hold at HSBC... eBay (EBAY) upgraded to Buy from Hold at Axiom... CNOOC (CEO) upgraded to Neutral from Underweight at JPMorgan... Quintiles (Q) upgraded to Buy from Neutral at SunTrust... DCT Industrial (DCT) upgraded to Neutral from Underperform at Credit Suisse... Pebblebrook Hotel (PEB) upgraded to Outperform from Neutral at Credit Suisse... Fortinet (FTNT) upgraded to Buy from Hold at Needham... BB&T (BBT) upgraded to Buy from Neutral at Guggenheim... Hercules Technology (HTGC) upgraded to Outperform from Neutral at Macquarie... InterXion (INXN) upgraded to Buy from Hold at Stifel.
08:44 EDTPEBPebblebrook Hotel upgraded to Outperform at Baird
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07:31 EDTPEBPebblebrook Hotel upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse upgraded Pebblebrook Hotel to Outperform based on share underperformance, superior portfolio quality, strong management, and significant growth upside. The firm lowered its price target on shares to $50 from $51.
06:08 EDTPEBPebblebrook Hotel upgraded to Outperform from Neutral at Baird
May 21, 2015
16:15 EDTPEBPebblebrook Hotel acquires LaPlaya beach resort and club in Florida for $186M
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May 19, 2015
10:48 EDTPEBCredit Suisse to hold property tours
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