Pebblebrook Hotel Trust Declares Dividends for the First Quarter 2013 and Increases Common Dividend by 33 Percent
BETHESDA, Md.–Mar. 15, 2013–?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?$0.16?per common share of beneficial interest, to be paid on?April 15, 2013to shareholders of record as of?April 1, 2013?(the ?Record Date?). The common dividend represents an increase of approximately 33% over the Company?s fourth quarter 2012 quarterly dividend and represents an annualized yield of approximately 2.6% based on the closing price of the common shares on?March 14, 2013.
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 cash dividend for the partial quarterly period of?$0.121875?per share of the Company?s new 6.50% Series C Cumulative Redeemable Preferred Shares of Beneficial Interest, each of which will be paid on?April 15, 2013?to shareholders of record as of the Record Date.
[box type=”tick”]About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust 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 26 hotels, including 20 wholly owned hotels with a total of 4,960 guest rooms and a 49% joint venture interest in six hotels with a total of 1,733 guest rooms. The Company owns, or has an ownership interest in, hotels located in ten states and the District of Columbia, across 16 markets: Los Angeles, California; San Diego, California; San Francisco, California; Santa Monica, California; West Hollywood, 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; andWashington, DC.[/box]