In trading on Wednesday, Pebblebrook Hotel Trust’s 6.375% Series G Cumulative Redeemable Preferred Shares (PEB.PRG) yielded over 8% based on its quarterly dividend, annualized at $1.5938. Shares were traded as low as $19.91, highlighting a 19.72% discount to its liquidation preference amount, compared to the average 14.73% discount within the “Real Estate” preferred stock category, according to Preferred Stock Channel.
On the same day, PEB.PRG was down approximately 0.8%, while the common shares (PEB) saw an increase of about 1.7%. In the “Real Estate” preferred stock category, the average yield stood at 8.12%.
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