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 $0.23 per common share of beneficial
interest, to be paid on April 15, 2014 to shareholders of record as of
March 31, 2014 (the “Record Date”). The common dividend reflects an
increase of approximately 44% over the Company’s fourth quarter 2013
quarterly dividend and represents an annualized yield of approximately
2.7% based on the closing price of the common shares on March 13, 2014.
The Board of Trustees also authorized, and the Company has declared, a
regular quarterly cash dividend of $0.4921875 per share of the Company’s
7.875% Series A Cumulative Redeemable Preferred Shares of Beneficial
Interest, a regular quarterly cash dividend of $0.50 per share of the
Company’s 8.00% Series B Cumulative Redeemable Preferred Shares of
Beneficial Interest, and a regular quarterly cash dividend of $0.40625
per share of the Company’s 6.50% Series C Cumulative Redeemable
Preferred Shares of Beneficial Interest, each of which will be paid on
April 15, 2014 to shareholders of record as of the Record Date.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate
investment trust (“REIT”) organized to opportunistically acquire and
invest primarily in upper upscale, full-service hotels located in urban
markets in major gateway cities. The Company owns 29 hotels, including
23 wholly owned hotels with a total of 5,546 guest rooms and a 49% joint
venture interest in six hotels with a total of 1,775 guest rooms. The
Company owns, or has an ownership interest in, hotels located in ten
states and the District of Columbia, including: Los Angeles, California
(Hollywood, Santa Monica, West Hollywood and Westwood); San Diego,
California; San Francisco, California; Miami, Florida; Buckhead,
Georgia; Bethesda, Maryland; Boston, Massachusetts; Minneapolis,
Minnesota; New York, New York; Portland, Oregon; Philadelphia,
Pennsylvania; Columbia River Gorge, Washington; Seattle, Washington; and
Washington, DC. For more information, please visit us at www.pebblebrookhotels.com
and follow us on Twitter at @PebblebrookPEB.
This press release contains statements that are “forward-looking
statements” within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Act of 1934, as
amended, 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” or other similar words or expressions.These
forward-looking statements relate to the payment of the dividends.Forward-looking
statements are based on certain assumptions and can include future
expectations, future plans and strategies, financial and operating
projections or other forward-looking information.These
forward-looking statements are subject to various risks and
uncertainties, not all of which are known to the Company and 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, supply and demand in the hotel industry and other factors as
are described in greater detail in the Company’s filings with the
Securities and Exchange Commission (“SEC”), including, without
limitation, the Company’s Annual Report on Form 10-K for the year ended
December 31, 2013.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 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
and at www.sec.gov.
All information in this release is as of March 14, 2014.The
Company undertakes no duty to update the statements in this 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
Pebblebrook Hotel Trust
Raymond D. Martz, Chief Financial Officer,
240-507-1330
Source: Pebblebrook Hotel Trust