Pebblebrook just raised FY26 FFO guidance above consensus after a Q1 beat, but a company trading at 5.5x leverage with a penny dividend is telling you exactly where the cash is going... and it's not to shareholders.
Xenia Hotels posted a quarter that looked strong on every line investors care about. The 2026 expense guidance tells a different story for anyone calculating owner returns.
SHO's Series I preferred shares are trading around $19.30 against a $25.00 liquidation preference, yielding north of 7.3%... and the company can redeem them at par starting July 16. The math here tells two very different stories depending on which side of the trade you're sitting on.
