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Pebblebrook Hotel Trust to Present at 2014 Citigroup Global Property CEO Conference on Tuesday, March 4, 2014Business Wire (Mon, 7:00AM)
Business Wire (Feb 28, 2014)
Business Wire (Feb 20, 2014)
Business Wire (Jan 23, 2014)
Business Wire (Jan 22, 2014)
Business Wire (Jan 17, 2014)
Business Wire (Dec 13, 2013)
Pebblebrook Hotel Trust Acquires the Radisson Hotel Fisherman’s Wharf and Retail in San Francisco, CABusiness Wire (Dec 10, 2013)
at MarketWatch.com (Jun 19, 2012)
at CNBC.com (Jun 6, 2012)
PEB vs. ETF Alternatives
Pebblebrook Hotel Trust is an internally managed hotel investment company organized to opportunistically acquire and invest in hotel properties. It focuses on both branded and independent full-service hotels in the upper upscale segment.
Thursday, Feb 205:08 PM|Thursday, Feb 205:08 PM| Comment!
Thursday, Feb 2012:10 AM|Thursday, Feb 2012:10 AM| 2 Comments
Wednesday, Feb 195:35 PM|Wednesday, Feb 195:35 PM| Comment!
Tuesday, Jan 143:50 PM
Tuesday, Jan 143:50 PM| Comment!
- The hotel REIT sector is having a big day, led by Strategic Hotels & Resorts (BEE +1.8%) one day after a 2-notch upgrade by BAML to Buy from Underperform. The price target is $11.50.
- The activist target initially popped yesterday following the upgrade, but gave up those gains as the market tanked in the afternoon.
- Others: Hospitality Properties (HPT +0.8%), Sunstone Hotel (SHO +1.5%), LaSalle Hotel (LHO +1.1%), Pebblebrook (PEB +1.8%), Ashford Hospitality (AHT +1.8%).
Friday, Dec 132013, 9:04 AM
Tuesday, Dec 102013, 8:17 AM
Tuesday, Dec 102013, 8:17 AM| Comment!
- Pebblebrook Hotel Trust (PEB) buys the Radisson Hotel Fisherman's Wharf - 355 rooms and 44K square feet of retail space - for $132M, with an expectation of spending $18M-$20M over the next two years to completely renovate the hotel.
- The hotel is expected to operate at 89% occupancy in 2013 with RevPAR of $165 and NOI of $11M. The retail space is 95% net leased with average rent/foot of more than $100. Pebblebrook estimates the hotel will generate $9.3M-$9.8M in NOI in 2014.
- Pebblebrook expects acquisition costs of about $2.1M and $1M of costs related to transition of the new management team.
- Press release
Thursday, Oct 242013, 4:48 PM
Tuesday, Oct 222013, 3:58 PM
Tuesday, Oct 222013, 3:58 PM| Comment!
- American Residential Properties (ARPI +1.6%) is added to Raymond James' REIT Priority List - since its introduction 15 years ago, the Priority List has delivered a cumulative return of 249% vs. 181% for the MSCI U.S. REIT Index.
- ARPI is boosted thanks to the team's increasingly positive view on the single-family rental business as well as the valuation - an 18% discount to NAV.
- Removed from the list are CubeSmart (CUBE -1.3%) and Pebblebrook Hotel Trust (PEB +0.3%) after both have strongly outperformed the broader REIT sector YTD.
- Remaining on the list are: Parkway Properties (PKY), Ramco-Gershenson Properties Trust (RPT), Rayonier (RYN), RLJ Lodging Trust (RLJ) and Stag Industrial (STAG).
Monday, Oct 142013, 8:16 AM
Monday, Oct 142013, 8:16 AM| Comment!
- The team downgrades a swath of hotel REITs in what looks to be valuation call as the sector (along with self-storage) has emerged unscathed from the heavy selling in REIT land amid higher interest rates since the Spring.
- Downgraded to Buy from Strong Buy are Strategic Hotels and Resorts (BEE) and Sunshine Hotel Investors (SHO). Cut to Hold from Buy are DiamondRock Hospitality (DRH), LaSalle Hotel Properties (LHO), and PebbleBrook Hotel Trust (PEB).
- Hotel REITs gained 6.23% in Q3 and Self-storage was ahead 7.45%. All other REIT sectors lost money during the period.
Wednesday, Oct 92013, 3:11 PM
Wednesday, Oct 92013, 3:11 PM| 5 Comments
- "There was a time when people were overly exuberant about how long interest rates were going to stay low. That time is gone," says Cohen & Steers' Jason Yablon. Investors have pulled $728M out of real-estate mutual funds since May 15 (about the time interest rates started rising) vs. $42.8B in inflows into all equity funds, according to Lipper data. After outperforming the broader stock market for several years, REIT stocks have underperformed the S&P 500 for each of the last four months.
- The best-performing REITs in Q3, say analysts, were those renting property with short-term leases. Those with longer-term leases - such as owners of health care facilities - suffer most as rates rise.
- The only sectors showing gains in Q3 were self-storage (+7.45%) and hotel (+6.23%) REITs. "Self-storage was always regarded as the ugly stepchild of the real-estate industry, but our industry was always thought to be recession-resilient," says Extra Space Storage (EXR) CEO Spencer Kirk.
- REIT ETFs: FRI, WREI, FTY, ICF, IYR, REM, REZ, RTL, PSR, KBWY, SCHH, RWR, VNQ, DRN, URE, DRV, SRS, REK, ROOF.
- Self-storage: CUBE, PSA, SSS.
- Hotel: AHT, CLDT, CHSP, DRH, FCH, HT, HPT, HST, LHO, PEB, RLJ, BEE, INN, SHO, SPPR.
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