Pebblebrook Hotel Trust Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Pebblebrook Hotel Trust submitted its Q1 2024 10-Q, detailing financial performance and balance sheet changes.</b>

AI Summary

Pebblebrook Hotel Trust (PEB-PH) filed a Quarterly Report (10-Q) with the SEC on April 23, 2024. Pebblebrook Hotel Trust filed a 10-Q report for the period ending March 31, 2024. The filing covers financial data for the first quarter of 2024. Key financial statement items like Common Stock, Preferred Stock (Series E, F, G, H), and Additional Paid-In Capital are detailed. Comparative data for the periods ending December 31, 2023, and March 31, 2023, are included. Revenue segments such as Occupancy, Food & Beverage, and Hotel Other are presented for Q1 2024 and Q1 2023.

Why It Matters

For investors and stakeholders tracking Pebblebrook Hotel Trust, this filing contains several important signals. This 10-Q provides investors with the latest quarterly financial snapshot of Pebblebrook Hotel Trust, crucial for assessing operational performance and financial health. The inclusion of comparative data from prior periods allows for trend analysis and evaluation of the company's financial trajectory.

Risk Assessment

Risk Level: medium — Pebblebrook Hotel Trust shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information. However, the absence of specific operational or financial performance highlights within the provided header data prevents a deeper risk assessment.

Analyst Insight

Review the detailed financial statements within the full 10-Q filing to understand revenue trends, profitability, and balance sheet changes for Q1 2024.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Period End Date (Conformed Period of Report)
• 2024-04-23 — Filing Date (Filed as of Date)
• 2024-01-01 — Q1 2024 Start Date (Reporting Period)
• 2023-03-31 — Prior Year Q1 End Date (Comparative Period)
• 2023-12-31 — Prior Year End Date (Comparative Period)

Key Players & Entities

• Pebblebrook Hotel Trust (company) — Filer
• 2024-03-31 (date) — Conformed Period of Report
• 2024-04-23 (date) — Filed as of Date
• MD (location) — State of Incorporation
• 1231 (date) — Fiscal Year End
• 240-507-1300 (phone) — Business Phone
• 20814 (zip) — Business Address Zip
• 001-34571 (filing_id) — SEC File Number

FAQ

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-04-23: Filing Date — Date the 10-Q was officially submitted to the SEC.

Key Financial Figures

• $0.01 — nge on which registered Common Shares, $0.01 par value per share PEB New York Stock

Filing Documents

• peb-20240331.htm (10-Q) — 997KB
• a10qq1-2024ex311.htm (EX-31.1) — 11KB
• a10qq1-2024ex312.htm (EX-31.2) — 11KB
• a10qq1-2024ex321.htm (EX-32.1) — 6KB
• a10qq1-2024ex322.htm (EX-32.2) — 6KB
• 0001474098-24-000078.txt (&nbsp;) — 6387KB
• peb-20240331.xsd (EX-101.SCH) — 47KB
• peb-20240331_cal.xml (EX-101.CAL) — 63KB
• peb-20240331_def.xml (EX-101.DEF) — 282KB
• peb-20240331_lab.xml (EX-101.LAB) — 601KB
• peb-20240331_pre.xml (EX-101.PRE) — 437KB
• peb-20240331_htm.xml (XML) — 823KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements. 3

Item 1. Financial Statements. 3 Consolidated Balance Sheets - March 31, 2024 (unaudited) and December 31, 2023 3 Consolidated Statements of Operations and Comprehensive Income (unaudited) - Three months ended March 31, 2024 and 2023 4 Consolidated Statements of Equity (unaudited) - Three months ended March 31, 2024 and 2023 6 Consolidated Statements of Cash Flows (unaudited) - Three months ended March 31, 2024 and 2023 7 Notes to the Consolidated Financial Statements (unaudited) 8

Management's Discussion and Analysis of Financial Condition and Results of Operations. 22

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 22

Quantitative and Qualitative Disclosures About Market Risk. 29

Item 3. Quantitative and Qualitative Disclosures About Market Risk. 29

Controls and Procedures. 29

Item 4. Controls and Procedures. 29

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings. 30

Item 1. Legal Proceedings. 30

Risk Factors. 30

Item 1A. Risk Factors. 30

Unregistered Sales of Equity Securities and Use of Proceeds. 30

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 30

Defaults Upon Senior Securities. 30

Item 3. Defaults Upon Senior Securities. 30

Mine Safety Disclosures. 30

Item 4. Mine Safety Disclosures. 30

Other Information. 31

Item 5. Other Information. 31

Exhibits. 32

Item 6. Exhibits. 32 2

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. Pebblebrook Hotel Trust Consolidated Balance Sheets (in thousands, except share and per-share data) March 31, 2024 December 31, 2023 (Unaudited) ASSETS Investment in hotel properties, net $ 5,475,450 $ 5,490,776 Cash and cash equivalents 56,707 183,747 Restricted cash 8,267 9,894 Hotel receivables (net of allowance for doubtful accounts of $ 341 and $ 689 , respectively) 53,934 43,912 Prepaid expenses and other assets 103,593 96,644 Total assets $ 5,697,951 $ 5,824,973 LIABILITIES AND EQUITY Debt $ 2,206,651 $ 2,319,801 Accounts payable, accrued expenses and other liabilities 247,029 238,644 Lease liabilities - operating leases 320,649 320,617 Deferred revenues 87,874 76,874 Accrued interest 10,390 6,830 Distribution payable 11,849 11,862 Total liabilities 2,884,442 2,974,628 Commitments and contingencies (Note 11) Shareholders' equity: Preferred shares of beneficial interest, $ .01 par value (liquidation preference $ 690,000 at March 31, 2024 and December 31, 2023), 100,000,000 shares authorized; 27,600,000 shares issued and outstanding at March 31, 2024 and December 31, 2023 276 276 Common shares of beneficial interest, $ .01 par value, 500,000,000 shares authorized; 120,094,380 shares issued and outstanding at March 31, 2024 and 120,191,349 shares issued and outstanding at December 31, 2023 1,201 1,202 Additional paid-in capital 4,074,898 4,078,912 Accumulated other comprehensive income (loss) 31,067 24,374 Distributions in excess of retained earnings ( 1,381,450 ) ( 1,341,264 ) Total shareholders' equity 2,725,992 2,763,500 Non-controlling interests 87,517 86,845 Total equity 2,813,509 2,850,345 Total liabilities and equity $ 5,697,951 $ 5,824,973 The accompanying notes are an integral part of these financial statements. 3 Table of Contents Pebblebrook Hotel Trust Consolidated Statements of Operations and Comprehensive Income (in thousands, except share and per-share data) (Unaudited)

View Full Filing

View this 10-Q filing on SEC EDGAR