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Posted by
Two Blokes Fri at 4:30 PM -
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Pebblebrook Hotel Trust operates in a competitive, cyclical sector, impacting its credit profile despite strong asset coverage and decent FFO yield. After Moody's methodology and market adjustments, I assign PEB an overall Ba2 credit rating, with preferred stock rated two notches lower at B1. PEB's preferred shares yield over 8% and trade below par, but their risk is elevated due to sector volatility and lower credit ratings.
