Preferred Stock Channel
Pebblebrook Hotel Trust | 7.50% Series H Cumulative Redeemable Preferred Shares of Beneficial Interest (LHO.PRH)

Prospectus excerpt:  We are offering 2,600,000 of our 7.50% Series H Cumulative Redeemable Preferred Shares of Beneficial Interest, par value $.01 per share.

Distributions on the Series H Preferred Shares will be payable quarterly in arrears on or about the 15th day of January, April, July and October of each year. The distribution rate is 7.50% per annum of the $25.00 liquidation preference, which is equivalent to $1.875 per annum per Series H Preferred Share. The first distribution on the Series H Preferred Shares sold in this offering will be paid on April 15, 2011, and will be in the amount of $0.421875 per share.

Generally, we may not redeem the Series H Preferred Shares until January 24, 2016. On or after January 24, 2016, we may, at our option, redeem the Series H Preferred Shares, in whole or from time to time in part, by paying $25.00 per share, plus any accrued and unpaid distributions to and including the date of redemption. In addition, upon the occurrence of a change of control the result of which our common shares and the common securities of the acquiring or surviving entity (or ADRs representing such securities) are not listed on the New York Stock Exchange (the ÙNYSEˆ), the NYSE Amex Equities or the NASDAQ Stock Market or listed or quoted on a successor exchange or quotation system, we may, at our option, redeem the Series H Preferred Shares, in whole or in part and within 120 days after the first date on which such change of control occurred, by paying $25.00 per share, plus any accrued and unpaid distributions to and including the date of redemption. If we exercise our redemption right, you will not have the conversion right described below. The Series H Preferred Shares have no maturity date and will remain outstanding indefinitely unless redeemed by us or converted in connection with a change of control by you.

Upon the occurrence of a change of control the result of which our common shares and the common securities of the acquiring or surviving entity (or ADRs representing such securities) are not listed on the NYSE, the NYSE Amex Equities or the NASDAQ Stock Market or listed or quoted on a successor exchange or quotation system, you will have the right (unless, prior to the Change of Control Conversion Date, we have provided or provide notice of our election to redeem your Series H Preferred Shares) to convert some or all of your Series H Preferred Shares into a number of our common shares equal to the lesser of: the quotient obtained by dividing (i) the sum of the $25.00 liquidation preference per Series H Preferred Share to be converted plus the amount of any accrued and unpaid distributions to and including the Change of Control Conversion Date (unless the Change of Control Conversion Date is after a record date for a Series H Preferred Share distribution payment and prior to the corresponding Series H Preferred Share distribution payment date, in which case no additional amount for such accrued and unpaid distribution will be included in this sum) by (ii) the Common Share Price; and 1.702 (the ÙShare Capˆ), subject to certain adjustments; in each case, subject to provisions for the receipt of alternative consideration as described in this prospectus supplement. The Series H Preferred Shares are subject to certain restrictions on ownership designed to preserve our qualification as a real estate investment trust for federal income tax purposes (ÙREITˆ).

Full Prospectus PDF », Secondary Prospectus PDF », PEB Page »

Series:H
Alternate symbology:LHO-H, LHO-PH, LHOprH
Redeemable?:Yes
Call Date:1/24/2016 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:2,600,000
Overallotment:390,000
Liquidation Preference:$25.00
Original Coupon:7.50%
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
CDx3 Compliance Rating: Learn LHO.PRH's Rating
Pebblebrook Hotel Trust is a real estate investment trust. Co. acquires and invests in hotel properties located primarily in main U.S. cities. Co.'s hotel properties are located in Boston, MA; Chicago, IL; Hollywood, FL; Jekyll Island, GA; Key West, FL; Miami, FL; Los Angeles, CA; Naples, FL; Philadelphia, PA; Portland, OR; San Diego, CA; San Francisco, CA; Santa Cruz, CA; Seattle, WA; Stevenson, WA; and Washington, D.C. In addition, Co. also targets investments in resort properties located near its primary urban target markets and select destination resort markets such as southern Florida and southern California. Co. focuses on both branded and independent full-service hotels.

Preferreds: LHO.PRG, LHO.PRH, PEB.PRA, PEB.PRB, PEB.PRE, PEB.PRC, PEB.PRF, PEB.PRF, PEB.PRD, PEB.PRG, PEB.PRH


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Name:  Pebblebrook Hotel Trust
Website:  www.pebblebrookhotels.com
Sector:  REITs
Number of ETFs Holding PEB:  51 (see which ones)
Total Market Value Held by ETFs:  $526,794,162.9
Total Market Capitalization:  $1,874,000,000
% of Market Cap. Held by ETFs:  28.11%

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