Pebblebrook Hotel Trust Declares Dividends for Fourth Quarter 2020

Rhea-AI Summary

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.

Positive

• Quarterly cash dividend of $0.01 per share demonstrates commitment to returning value to shareholders.
• Total of $0.40625 for Series C and $0.39844 for Series D and E preferred shares highlights strong financial health.

Negative

• None.

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 January 15, 2021 to shareholders of record as of December 31, 2020 (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 January 15, 2021 to shareholders of record as of the Record Date:

• $0.40625 per 6.50% Series C Cumulative Redeemable Preferred Share;
• $0.39844 per 6.375% Series D Cumulative Redeemable Preferred Share;
• $0.39844 per 6.375% Series E Cumulative Redeemable Preferred Share; and
• $0.39375 per 6.30% Series F 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 53 hotels, totaling approximately 13,200 guest rooms across 14 urban and resort markets with a focus on the west coast gateway cities. 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, 2019. 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 December 15, 2020. 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/20201215005179/en/

FAQ

What is the dividend amount declared by Pebblebrook Hotel Trust for common shares?

Pebblebrook Hotel Trust has declared a quarterly cash dividend of $0.01 per common share.

When will Pebblebrook Hotel Trust pay its declared dividends?

The dividends will be paid on January 15, 2021.

What are the preferred share dividends for Pebblebrook Hotel Trust?

Dividends for preferred shares include $0.40625 for Series C, $0.39844 for Series D and E, and $0.39375 for Series F.

Who are the shareholders of record for Pebblebrook Hotel Trust's dividend?

Shareholders of record as of December 31, 2020, are eligible for the dividend.

How many hotels does Pebblebrook Hotel Trust own?

Pebblebrook Hotel Trust owns 53 hotels totaling approximately 13,200 guest rooms.