Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Thu, December 2, 10:34 AM
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Slide #283. Pebblebrook Hotel Trust — Preferred Stock Offering
Pebblebrook Hotel Trust (NYSE:PEB)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Pebblebrook Hotel Trust (NYSE:PEB) (the "Company") announced that it has priced an underwritten public offering of 5,000,000 shares of its 6.375% Series D Cumulative Redeemable Preferred Shares at a public offering price of $25.00 per share, for net proceeds of approximately $120.9 million, after deducting the underwriting discount and other estimated offering costs. The offering is expected to close on June 9, 2016, subject to customary closing conditions.
Pebblebrook Hotel Trust is an internally managed hotel investment company. Substantially all of Co.'s assets are held by, and all of the operations are conducted through its Operating Partnership, Pebblebrook Hotel, L.P. Co. invests in hotel properties located primarily within U.S. cities, including Boston, Chicago, Key West, Los Angeles, Miami, Naples, New York, Philadelphia, Portland, Santa Monica, San Diego, San Francisco, Seattle and Washington, D.C., with a focus on main gateway urban markets. In addition, Co. targets investments in resort properties located near its primary urban target markets, as well as in select destination resort markets.
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Buy (2.67 out of 4)
(ranked lower than approx. 91% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com