|Bid||33.00 x 800|
|Ask||40.05 x 800|
|Day's Range||38.83 - 39.21|
|52 Week Range||31.63 - 41.65|
|PE Ratio (TTM)||25.05|
|Forward Dividend & Yield||1.52 (3.90%)|
|1y Target Est||N/A|
Short interest is moderately high for PEB with between 10 and 15% of shares outstanding currently on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. ETFs that hold PEB had net inflows of $632 million over the last one-month.
The effects center on Starwood hotels that were managed by Starwood before the two companies merged.
Short interest is moderately high for PEB with between 10 and 15% of shares outstanding currently on loan. The net inflows of $194 million over the last one-month into ETFs that hold PEB are among the lowest of the last year and appear to be slowing.
Key story highlights: LaSalle Hotel Properties once again rejects a bid by Pebblebrook Hotel Trust, a fellow Bethesda hotel company, to buy it. It has set a date to vote on a roughly $4.8 billion sale, instead, to private equity giant Blackstone LP. Pebblebrook, which owns 9.8 percent of LaSalle's outstanding stock, says it will vote against the Blackstone deal, setting up yet another battle.
BETHESDA, Md. (AP) _ Pebblebrook Hotel Trust (PEB) on Wednesday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations. The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $56 million, or 81 cents per share, in the period.
Prospects of a number of REITs are getting a boost as growth in the economy translates into greater demand for real estate and higher occupancy levels.
Short interest is moderately high for PEB with between 10 and 15% of shares outstanding currently on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. The net inflows of $168 million over the last one-month into ETFs that hold PEB are among the lowest of the last year and appear to be slowing.
Pebblebrook is actively campaigning for LaSalle shareholders to vote against a deal to be acquired by Blackstone Group.
Short interest is moderately high for PEB with between 10 and 15% of shares outstanding currently on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Over the last month, ETFs holding PEB are favorable, with net inflows of $4.15 billion.
On the 16 July 2018, Pebblebrook Hotel Trust (NYSE:PEB) will be paying shareholders an upcoming dividend amount of US$0.38 per share. However, investors must have bought the company’s stock beforeRead More...
The Bethesda REITs have been going back and forth over a potential merger deal for the past two months.
LaSalle Hotel Properties, the luxury hotel owner that agreed to be acquired by Blackstone Group LP in a $4.8 billion deal, told regulators it’s concerned that a rival bidder inappropriately acquired its shares. The losing suitor, Pebblebrook Hotel Trust, “was provided with material nonpublic information” during the sale process “and we believe that Pebblebrook was in possession of such information during the time it was purchasing the company’s shares,” LaSalle said in correspondence with the U.S. Securities and Exchange Commission last week. Pebblebrook, which had a 4.8 percent stake in LaSalle on March 6, acquired 4.75 million additional shares from June 6 to June 15 and bought almost 840,000 more last week, lifting its holding to about 9.8 percent, according to a regulatory filing Friday.
The hospitality REIT hasn’t yet scheduled a vote on the sale but hopes to close the deal as early as August.
LaSalle said it's sticking with a sale to Blackstone, but analysts aren't sure whether it has the shareholder votes for that deal.
on Monday reiterated its commitment to a deal with Blackstone Group LP, saying the private-equity firm’s roughly $3.7 billion purchase offer it accepted last month is in the best interest of shareholders. on June 11 wasn’t a “superior proposal.” The board said that Pebblebrook’s proposal, which includes an 80% stock consideration, “doesn’t address significant price risks and uncertainties for LaSalle shareholders.” LaSalle owns 41 hotels offering a total of 10,400 guest rooms. Under the deal LaSalle and Blackstone reached last month, Blackstone would acquire LaSalle’s outstanding shares for $33.50 each.
U.S. hotel owner LaSalle Hotel Properties on Monday sided with Blackstone Group LP's $3.7 billion all-cash offer to buy the company, as it looks to thwart Pebblebrook Hotel Trust's takeover bid. LaSalle said Pebblebrook's raised cash-and-stock proposal of $37.80 per share last week was not superior as 80 percent of the offer comprised stock, which the company considers a risk for its shareholders. Pebblebrook stood pat, saying its offer remained outstanding and unveiled on Monday a 9 percent stake in LaSalle, almost double its previously disclosed holding.
Bethesda-based LaSalle Hotel Properties (NYSE: LHO) expects its sale to Blackstone to close as soon as August after rejecting a competing offer from Pebblebrook Hotel Trust. The LaSalle board, which received Bethesda-based Pebblebrook’s latest bid on June 11, took about six days to review it and return its attention to Blackstone, which will acquire the company for $33.50 per share in an all-cash transaction valued at about $4.8 billion. “The LaSalle Board remains committed to completing its existing transaction with Blackstone, which is subject to customary closing conditions, including the approval of LaSalle’s shareholders,” LaSalle said in a release issued Monday morning.
LaSalle Hotel Properties picked Blackstone Group LP as its preferred suitor, thwarting months of efforts by Pebblebrook Hotel Trust to buy the luxury-hotel owner, most recently for more than $4 billion. The Blackstone transaction values the company at $4.8 billion, LaSalle said Monday in a statement. LaSalle’s board deemed a June 11 offer from Pebblebrook “substantially similar” to one it rejected before accepting Blackstone’s bid of $33.50 a share.
Pebblebrook Hotel Trust on Monday sweetened its bid for LaSalle Hotel Properties for a fourth time since its first offer in March. A Property Report article Wednesday about real-estate investment trusts incorrectly said it was the third time. Iceland’s soccer team will have to travel about 2,580 miles during the group stage of this year’s World Cup in Russia.
, which owns 6,973 guest rooms across 28 hotels, on Monday raised its offer to buy LaSalle to about $4.17 billion as it works to thwart an agreement the hotelier reached last month with private-equity firm Blackstone Group LP. On Tuesday, HG Vora Managing Member Parag Vora wrote in a letter to LaSalle’s board that Pebblebrook’s offer is a “superior proposal” compared with the agreement between LaSalle and Blackstone. LaSalle, which owns 41 hotels offering a total of 10,400 guest rooms, declined to comment on HG Vora’s letter Tuesday.
Pebblebrook Hotel Trust's (PEB) latest bid for LaSalle Hotel Properties takes into account the $112-million termination fee that LaSalle needs to pay to Blackstone in case of calling off the deal.
LaSalle Hotel Properties' third-biggest shareholder, HG Vora Capital Management, said on Tuesday that Pebblebrook Hotel Trust's revised offer for the U.S. hotel owner was superior to Blackstone's $3.7 billion bid. The hedge fund, which owns a 9.1 percent stake in the LaSalle, asked the company to consider Pebblebrook's offer and said it was available to discuss its views in more detail. Pebblebrook on Monday said its latest offer for LaSalle represented an implied price of $37.80 per share, and carried a 13 percent premium to Blackstone's $33.50 offer.