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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 20, 10:19 AM
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Slide #330. Pebblebrook Hotel Trust — Preferred Stock Offering
Company:
Pebblebrook Hotel Trust (NYSE:PEB)
Date announced:
6/2/2016
Shares Offered:
5,000,000
Date of Pricing:
6/2/2016
Price Per Share:
$25.00
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 a real estate investment trust. Co. acquires and invests in hotel properties located primarily in main U.S. cities. Co.'s hotel properties are located in Boston, MA; Chicago, IL; Hollywood, FL; Jekyll Island, GA; Key West, FL; Miami, FL; Los Angeles, CA; Naples, FL; Philadelphia, PA; Portland, OR; San Diego, CA; San Francisco, CA; Santa Cruz, CA; Seattle, WA; Stevenson, WA; and Washington, D.C. In addition, Co. also targets investments in resort properties located near its primary urban target markets and select destination resort markets such as southern Florida and southern California. Co. focuses on both branded and independent full-service hotels.
Preferreds: LHO.PRG, LHO.PRH, PEB.PRA, PEB.PRB, PEB.PRE, PEB.PRC, PEB.PRF, PEB.PRF, PEB.PRD, PEB.PRG, PEB.PRH
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Avg. Broker Rec.
  
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Hold (1.82 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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