Business Context and Reporting Period
Pebblebrook Hotel Trust (PEB) filed a Form 8-K on June 14, 2024, to announce the declaration of cash dividends for the quarter ending June 30, 2024. The filing serves as a Regulation FD disclosure and details the Board of Trustees' authorization of payments for common and multiple series of preferred shares.
Key Financial Metrics and Dividend Declarations
This filing focuses exclusively on dividend declarations and does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. The declared dividends are as follows:
- Common Shares: $0.01 per share.
- Series E Preferred (6.375%): $0.39844 per share (6.375% annualized on $25 liquidation preference).
- Series F Preferred (6.30%): $0.39375 per share (6.30% annualized on $25 liquidation preference).
- Series G Preferred (6.375%): $0.39844 per share (6.375% annualized on $25 liquidation preference).
- Series H Preferred (5.70%): $0.35625 per share (5.70% annualized on $25 liquidation preference).
Material Changes and Payment Schedule
The filing does not provide comparative financial data or material changes in operating results versus prior periods. All declared dividends are payable on July 15, 2024, to holders of record as of the close of business on June 28, 2024.
Outlook, Risks, and Management Commentary
The filing includes standard forward-looking statements regarding the payment of dividends, noting that actual results may differ due to risks such as the state of the U.S. economy and hotel industry supply and demand. The Company disclaims any obligation to update these statements unless legally required. For detailed financial condition and risk factors, investors are directed to the Company's Form 10-K and Form 10-Q filings.
Investor Verification Checklist
- Verify the record date of June 28, 2024, to confirm eligibility for the upcoming dividend payment.
- Confirm the payment date of July 15, 2024, for cash flow planning.
- Review the Company's most recent Form 10-Q or 10-K for underlying financial performance metrics (revenue, FFO, debt levels) not included in this 8-K.
- Check the specific series of preferred shares held to ensure the correct dividend rate is applied.