Company: PEB
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001474098-25-000070
Chunk: 22

Company: Pebblebrook Hotel Trust
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 22
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Common SharesThe Company is authorized to issue up to 500,000,000 common shares. Each outstanding common share entitles the holder to one vote on each matter submitted to a vote of shareholders. Holders of common shares are entitled to receive dividends when authorized by the Board of Trustees.Common Share Repurchase ProgramsOn February 17, 2023, the Company's Board of Trustees authorized a share repurchase program of up to $150.0 million of common shares. Under this program, the Company may repurchase common shares from time to time in transactions on the open market or by private agreement. The Company may suspend or discontinue this program at any time. Common shares repurchased by the Company cease to be outstanding and become authorized but unissued common shares. During the three months ended March 31, 2025, the Company repurchased 1,186,797 common shares for an aggregate purchase price of $13.3 million, or an average of approximately $11.23 per share. As of March 31, 2025, $117.6 million of common shares remained available for repurchase under this program.Common DividendsThe Company declared the following dividends on common shares/units for the three months ended March 31, 2025:Dividend per Share/UnitFor the Quarter EndedRecord DatePayable Date$0.01 March 31, 2025March 31, 2025April 15, 2025Preferred SharesThe Company is authorized to issue up to 100,000,000 preferred shares of beneficial interest, $0.01 par value per share ("preferred shares"). The following preferred shares were outstanding as of March 31, 2025 and December 31, 2024:Security TypeMarch 31, 2025December 31, 20246.375% Series E4,400,000 4,400,000 6.30% Series F6,000,000 6,000,000 6.375% Series G9,200,000 9,200,000 5.70% Series H8,000,000 8,000,000 27,600,000 27,600,000 

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The Series E, Series F, Series G and Series H Cumulative Redeemable Preferred Shares (collectively, the "Preferred Shares") rank senior to the common shares and on parity with each other with respect to payment of distributions. The Preferred Shares do not