trending Market Intelligence /marketintelligence/en/news-insights/trending/6fesnmhwnxciial6lu1lnw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

LaSalle Hotel Properties cuts dividend 50%, slams Pebblebrook growth estimates

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

LaSalle Hotel Properties cuts dividend 50%, slams Pebblebrook growth estimates

LaSalle Hotel Properties disclosed plans to pay a reduced dividend beginning in the second quarter and elaborated on its rejection of a merger offer from Pebblebrook Hotel Trust.

LaSalle said it expects to pay quarterly dividends of 22.5 cents per common share for the second, third and fourth quarters of 2018. The new quarterly payment represents a 50% reduction from LaSalle's first-quarter dividend of 45 cents per common share.

To the extent that the regular quarterly dividends for 2018 do not satisfy IRS requirements for annual real estate investment trust distributions, LaSalle said it expects to satisfy the requirements by paying a special dividend in January 2019.

LaSalle's share price fell sharply in February after the company said a dividend cut was likely. In the same March 28 news release in which it formally announced the cut, LaSalle said the merger offer from Pebblebrook exploits a "short-term dislocation" in LaSalle's share price.

LaSalle said it rejected the offer in part because the offer "significantly undervalues" LaSalle's hotel portfolio. Pebblebrook proposed exchanging 0.8655 of its common shares for each LaSalle common share.

The company also jabbed at what it characterized as Pebblebrook's history of consistently missing its guidance for growth in revenue per available room over the past three years. LaSalle said its board has "significant concerns that Pebblebrook's share price reflects its overly optimistic growth targets."

LaSalle also said it is "surprised" that Pebblebrook has not waived change-in-control agreements that it said would trigger vesting of outstanding equity awards and the payment of bonuses to Pebblebrook executives.