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PEB

Pebblebrook Hotel

$27.81

-0.28 (-1.00%)

06:45
06/03/19
06/03
06:45
06/03/19
06:45

Pebblebrook Hotel to sell Hotel Amarano Burbank for about $72.9M

Pebblebrook Hotel Trust announced that it executed a contract to sell the 132-room Hotel Amarano Burbank in Los Angeles, California for approximately $72.9M to a third party. The contracted sale price reflects a 15.8x EBITDA multiple and a 5.7% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the hotel's operating performance for 2018. Based on the trailing 12-month period ended March 2019, the contracted sales price reflects a 16.9x EBITDA multiple and a 5.3% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues). Both the EBITDA multiples and net operating income capitalization rates are adjusted for the estimated annualized impact of real estate taxes for California's Proposition 13.

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PEB Pebblebrook Hotel
$27.81

-0.28 (-1.00%)

03/28/19
SBSH
03/28/19
INITIATION
Target $32
SBSH
Neutral
Pebblebrook Hotel initiated with a Neutral at Citi
Citi analyst Smedes Rose started Pebblebrook Hotel Trust with a Neutral rating and $32 price target.
03/28/19
03/28/19
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Lyft (LYFT) initiated with a Neutral at Wedbush. 2. The Medicines Co. (MDCO) initiated with an Outperform at Baird. 3. Fate Therapeutics (FATE) initiated with an Outperform at SVB Leerink. 4. Teva (TEVA) initiated with a Market Perform at BMO Capital. 5. Pebblebrook Hotel (PEB) initiated with a Neutral at Citi. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/06/19
RHCO
05/06/19
INITIATION
RHCO
Hold
Pebblebrook Hotel initiated with a Hold at SunTrust
05/06/19
RHCO
05/06/19
INITIATION
Target $34
RHCO
Hold
Pebblebrook Hotel initiated with a Hold at SunTrust
SunTrust analyst Gregory Miller initiated Pebblebrook Hotel with a Hold rating and a price target of $34, saying he expects the REIT to generate "minimal" EBITDA growth and flattish margins through 2020 given the limited RevPAR growth and rising labor headwinds. The analyst anticipates "material" incremental EBITDA to come by 2021 from its its LaSalle Hotel Properties acquisition however and contends that the portfolio has "embedded value" that stands to be realized.

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