Pebblebrook Hotel Trust Declares Dividends for First Quarter 2023

Rhea-AI Summary

Pebblebrook Hotel Trust (NYSE: PEB) has announced a quarterly cash dividend of $0.01 per common share, payable on April 17, 2023, to shareholders of record as of March 31, 2023. Additionally, the Company declared regular quarterly cash dividends on its preferred shares, including $0.39844 for Series E, $0.39375 for Series F, $0.39844 for Series G, and $0.35625 for Series H, all payable on the same date. Pebblebrook operates 50 hotels, totaling around 12,600 guest rooms across various markets, emphasizing its position as a significant player in the urban and resort hotel sector.

Positive

• Quarterly cash dividend of $0.01 per common share enhances shareholder income.
• Regular dividends on preferred shares indicate company stability.

Negative

• None.

BETHESDA, Md.--(BUSINESS WIRE)-- Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that its Board of Trustees has authorized, and the Company has declared, a quarterly cash dividend of $0.01 per common share of beneficial interest, to be paid on April 17, 2023 to shareholders of record as of March 31, 2023 (the “Record Date”).

The Board of Trustees also authorized, and the Company has declared, regular quarterly cash dividends on the Company’s preferred shares of beneficial interest as follows, each of which will be paid on April 17, 2023 to shareholders of record as of the Record Date:

• $0.39844 per 6.375% Series E Cumulative Redeemable Preferred Share;
• $0.39375 per 6.3% Series F Cumulative Redeemable Preferred Share;
• $0.39844 per 6.375% Series G Cumulative Redeemable Preferred Share; and
• $0.35625 per 5.7% Series H Cumulative Redeemable Preferred Share.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 50 hotels, totaling approximately 12,600 guest rooms across 15 urban and resort markets. For more information, visit www.pebblebrookhotels.com and follow us at @PebblebrookPEB.

This press release contains certain “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as “may,” “will,” “should,” “potential,” “intend,” “expect,” “seek,” “anticipate,” “estimate,” “approximately,” “believe,” “could,” “project,” “predict,” “forecast,” “continue,” “assume,” “plan,” references to “outlook” or other similar words or expressions. These forward-looking statements relate to the payment of the dividends. These forward-looking statements are subject to various risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to, the state of the U.S. economy and the supply of hotel properties, and other factors as are described in greater detail in the Company’s filings with the Securities and Exchange Commission, including, without limitation, the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information about the Company’s business and financial results, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of the Company’s SEC filings, including, but not limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, copies of which may be obtained at the Investor Relations section of the Company’s website at www.pebblebrookhotels.com.

All information in this press release is as of March 15, 2023. The Company undertakes no duty to update the statements in this press release to conform the statements to actual results or changes in the Company’s expectations.

For additional information or to receive press releases via email, please visit our website at www.pebblebrookhotels.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230315005133/en/

Raymond D. Martz, Chief Financial Officer, Pebblebrook Hotel Trust - (240) 507-1330

Source: Pebblebrook Hotel Trust

FAQ

What is the amount of Pebblebrook Hotel Trust's dividend for Q2 2023?

Pebblebrook Hotel Trust declared a dividend of $0.01 per common share for Q2 2023.

When will Pebblebrook Hotel Trust pay dividends?

Dividends will be paid on April 17, 2023.

What are the dividend amounts for Pebblebrook's preferred shares?

The preferred share dividends are $0.39844 for Series E, $0.39375 for Series F, $0.39844 for Series G, and $0.35625 for Series H.

Who is eligible to receive the Pebblebrook Hotel Trust dividend?

Shareholders of record as of March 31, 2023, are eligible to receive the dividend.

Is Pebblebrook Hotel Trust's dividend sustainable?

The sustainability of Pebblebrook Hotel Trust's dividend is subject to the company's financial performance and market conditions.