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Pebblebrook Hotel Trust (NYSE:PEB), a Maryland-based real estate investment trust (REIT) specializing in hotels with a market capitalization of $1.5 billion, has finalized the compensatory arrangements for its executive officers for the year 2025, as disclosed in a recent SEC 8-K filing. According to InvestingPro data, the company’s stock is currently trading at $12.41 and appears undervalued based on Fair Value analysis. The board, following the Compensation Committee’s recommendations, has decided to maintain the structure of the compensation similar to the previous year.
The compensatory package for each executive consists of three key components: an annual cash base salary, a cash bonus incentive tied to the company’s performance, and long-term equity-based compensation. The equity awards will be split between time-based vesting and performance-based vesting.
For 2025, the base salary and target cash incentive bonus for CEO Jon E. Bortz are set at $840,000 and $1,390,000, respectively. CFO Raymond (NSE:RYMD) D. Martz and COO Thomas C. Fisher will each have a base salary of $560,000 and a target cash incentive bonus of $590,000.
The cash bonus incentives are contingent upon achieving the company’s 2025 Annual Objectives, which include metrics such as Adjusted FFO per Share, Completed Dispositions, Same-Property Hotel EBITDA per Key vs. Peers’, and Portfolio RevPAR Penetration Index Improvement, among others. The objectives are designed to align executive interests with shareholder interests.
Long-term equity incentive awards for 2025 include Time-Based Grants, which vest over three years, and performance units, which will vest after a three-year period based on the achievement of certain performance criteria. The Time-Based Grants for Bortz include 112,168 LTIP Units, while Martz and Fisher are awarded 47,426 LTIP Units and 47,426 Restricted Share Units, respectively.
The performance units are tied to the company’s total shareholder return relative to that of other hospitality REITs, as well as the company’s absolute total shareholder return. The maximum number of performance units that may vest for the executives ranges from 142,278 to 336,506, depending on the level of performance achieved.
The information is based on a press release statement filed with the SEC, and it is intended to provide transparency to investors regarding the compensation of Pebblebrook Hotel Trust’s executive officers.
In other recent news, PebbleBrook Hotel Trust has been the focus of several analyst firms. Stifel analysts maintained their Buy rating on the company, citing the robust performance of its Los Angeles properties, which contributed approximately $41.5 million in annual hotel EBITDA for both 2022 and 2023. The firm also highlighted the potential for increased business due to the need for short-term lodging by displaced residents, first responders, insurance adjusters, and others.
Separately, Stifel upgraded PebbleBrook’s stock rating from ’Hold’ to ’Buy’ and increased the price target to $15.00. This adjustment was prompted by the company’s performance relative to its industry peers, with Stifel projecting a potential upside from the current trading levels.
In addition, Compass Point upgraded its rating for PebbleBrook from Neutral to Buy, while maintaining a steady price target of $17.00. Despite the company’s underperformance relative to the sector this year, the firm projects PebbleBrook to achieve the second-highest Adjusted EBITDA growth in 2025. These recent developments provide investors with a comprehensive view of the company’s current standing and future potential.
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