PEB invests in upscale hotel and resort properties in major urban markets across the U.S. from New York to San Francisco. In December 2018, Pebblebrook completed a merger with LaSalle Hotel Properties. The tangible benefit of that to investors will hinge largely on how the merger is absorbed and managed, says George Steffani, director of investment sales at Lee & Associates in New York. “If management can continue to create efficiencies from the merger and integrate pieces of LaSalle’s holdings, there should be incremental value for shareholders in the future,” he says. PEB has returned 7.5% year to date, producing a dividend of 3.5%.
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