Welcome to our dedicated page for Pebblebrok Hotel news (Ticker: PEB), a resource for investors and traders seeking the latest updates and insights on Pebblebrok Hotel stock.
Pebblebrook Hotel Trust (NYSE: PEB) is a U.S. lodging real estate investment trust (REIT) that describes itself as the largest owner of urban and resort lifestyle hotels in the United States. The news flow around Pebblebrook frequently covers hotel operating performance, portfolio changes, capital markets activity, and dividend decisions, giving investors and observers insight into both the company and broader lodging trends.
Company news often highlights quarterly and annual results, including net income or loss, Same-Property RevPAR and Total RevPAR, hotel EBITDA, Adjusted EBITDAre, Adjusted FFO, and related outlook ranges. Pebblebrook regularly issues releases detailing its expectations for upcoming quarters and full-year performance, along with commentary on demand patterns across its urban and resort markets.
Another recurring theme in Pebblebrook’s news is portfolio recycling and capital allocation. Press releases describe hotel sales, such as the disposition of specific properties, and explain how sale proceeds are expected to be used for general corporate purposes, including reducing outstanding debt and preferred equity and repurchasing common or preferred shares. These announcements are often accompanied by updated outlooks and reconciliations of non-GAAP financial measures.
News items also address balance sheet and financing actions, including offerings of convertible senior notes, repurchases of existing notes, and related capped call transactions. In addition, the company reports on Board-authorized share repurchase programs and quarterly common and preferred dividend declarations.
For readers tracking PEB, this news stream provides ongoing detail on hotel-level performance, capital structure decisions, and REIT-specific measures that the company uses to evaluate its business. Regular updates on earnings, transactions, and dividends help contextualize the company’s strategy and operating environment over time.
Melody Investment Advisors has announced an investment in Pebblebrook Hotel Trust to install cell site installations on 14 rooftops across 11 Pebblebrook hotels. This partnership includes a strategic marketing and revenue-sharing agreement, aiming to enhance revenue from underutilized rooftop assets. Pebblebrook's hotels, located in high-density areas, can provide valuable locations for the wireless industry, particularly during the 5G rollout. The collaboration is expected to bolster Pebblebrook's revenue growth through this new asset class.
Pebblebrook Hotel Trust (NYSE: PEB) has successfully completed its public offering of $250 million in 1.75% Convertible Senior Notes due 2026. This offering includes an additional $35 million from the underwriters' over-allotment option. The proceeds will enhance the company's liquidity to approximately $790 million and improve its debt maturity schedule by facilitating the paydown of about $177 million in debt due in 2021 and 2022. The Notes are convertible into shares or cash and are expected to trade interchangeably with previously issued notes.
Pebblebrook Hotel Trust (NYSE: PEB) has announced the pricing of an underwritten public offering of $215 million in 1.75% Convertible Senior Notes due 2026. The offering is set to close on February 9, 2021, with an option for underwriters to purchase an additional $35 million. The Notes will pay interest semiannually and have an initial conversion rate of 39.2549 per $1,000 principal, translating to a conversion price of approximately $25.47 per common share. The Company plans to use proceeds to cover capped call transaction costs and reduce debt.
Pebblebrook Hotel Trust (NYSE: PEB) announced a public offering of $175 million in 1.75% Convertible Senior Notes due 2026. The offering includes an over-allotment option of $25 million. The notes will be senior unsecured obligations ranking equally with existing debt, paying semiannual interest of 1.75% and maturing on December 15, 2026. The initial conversion rate is set at 39.2549 per $1,000 principal, with a conversion price of approximately $25.47 per share. Proceeds will finance capped call transactions and reduce outstanding debt.
Pebblebrook Hotel Trust (NYSE: PEB) announced a contract to sell the 416-room Sir Francis Drake hotel in San Francisco for $157.6 million, expected to be completed within 60 days. The sale reflects a 7.2% net operating income capitalization rate based on the hotel's 2019 performance, which yielded a net operating income of $11.4 million after a 4.0% capital reserve. The closing of the sale is subject to customary conditions, and the company does not guarantee completion of the transaction.
Pebblebrook Hotel Trust (NYSE: PEB) has successfully monetized 14 rooftop wireless leases, generating net proceeds of $12.0 million at a 5.5% net income capitalization rate. The company has entered a strategic marketing agreement for future rooftop assets at the involved properties. The proceeds will be used for general business purposes, including potential debt reduction. Despite slightly lower Hotel EBITDA in December 2020 compared to November, the company’s independent hotels achieved positive EBITDA, contrasting with negative results from major-branded hotels.
Pebblebrook Hotel Trust (NYSE: PEB) will report its financial results for Q4 2020 on February 23, 2021, after market close. A conference call will be held on February 24, 2021, at 9:00 AM ET for further discussion.
The company operates urban and resort lifestyle hotels, owning 53 properties with approximately 13,200 guest rooms across 14 markets in the U.S.
Pebblebrook Hotel Trust (NYSE: PEB) has successfully closed a public offering of $500 million in 1.75% Convertible Senior Notes due 2026. The offering includes $50 million from the underwriters’ over-allotment option. The notes are senior unsecured obligations and pay interest semiannually, maturing on December 15, 2026. They feature an initial conversion rate that equates to approximately $25.47 per common share. Proceeds will help fund capped call transactions and reduce debt from the revolving credit facility.
Pebblebrook Hotel Trust (NYSE: PEB) has declared a quarterly cash dividend of $0.01 per common share, payable on January 15, 2021, to shareholders of record as of December 31, 2020. Additionally, the Company announced quarterly cash dividends for its preferred shares, including $0.40625 for Series C, $0.39844 for Series D and E, and $0.39375 for Series F, all payable on the same date. With a portfolio of 53 hotels and approximately 13,200 guest rooms, Pebblebrook is a leading REIT focusing on urban and resort markets.
Pebblebrook Hotel Trust (NYSE: PEB) has announced the pricing of an underwritten public offering amounting to $450 million of its 1.75% Convertible Senior Notes due 2026. The offering is anticipated to close on December 15, 2020. The Notes will rank equally with the Company’s existing unsecured debt, paying interest semiannually and convertible under certain conditions. Additionally, the Company plans to use part of the proceeds to cover costs related to capped call transactions and to reduce debt.