Pebblebrook Hotel Trust
) - a real estate investment trust (REIT) - recently announced a
33% hike in its quarterly cash dividend rate. The company will
now pay a dividend of 16 cents per share for first-quarter 2013,
up 4 cents from the prior-quarter dividend. The increased
dividend will be paid on Apr 15, 2013 to stockholders of record
on Apr 1.
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PEBBLEBROOK HTL (PEB): Free Stock Analysis
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Pebblebrook is focused on managing its capital efficiently. As of
Dec 31, 2012, Pebblebrook had $97.9 million of consolidated cash,
cash equivalents and restricted cash. We believe that the company
has adequate cash to provide optimum shareholder value.
Pebblebrook Hotel Trust is an internally managed hotel investment
company organized to acquire and invest in hotel properties
located primarily in large cities in the United States with an
emphasis on the major coastal markets. Currently, 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 6 hotels
with a total of 1,733 guest rooms.
Pebblebrook is expected to continue to benefit from solid
underlying fundamentals with demand for hotel rooms climbing up
and supply remaining relatively restricted. Increase in transient
business and leisure travel, as well as decent growth in inbound
international travel have held up travel demand despite the
uncertain global economic environment.
Pebblebrook's RevPAR (Revenue per available room) continues to
benefit from strategic investments made in stronger urban markets
in major gateway cities. Also, the company continues to profit
from its property renovation, asset management and planned
measures. As such, the company is well poised to maintain
its growth curve and simultaneously benefit the shareholders with
steadily rising dividends.
As a matter of fact, solid dividend payouts are arguably the
biggest attraction for REIT investors as the U.S. law requires
these companies to distribute 90% of their annual taxable income
in the form of dividends to shareholders.
In addition to Pebblebrook, many other REITs have raised their
dividends in the recent months. Recently,
Taubman Centers Inc.
) announced an 8.1% hike in its quarterly cash dividend rate,
while in February,
Simon Property Group Inc.
) raised its dividend by 4.5% sequentially and
BRE Properties Inc.
) declared a 2.6% sequential hike in its quarterly cash dividend.
Pebblebrook currently retains a Zacks Rank #3 (Hold).