Dividend Announcements Buoy Lodging Stocks
- On Friday lodging stocks ended higher: BHR rose 12% while AINC was up 7%. SOND fell -7% on the day.
- Raymond James downgraded Pebblebrook Hotel Trust and Xenia Hotels & Resorts to Market Perform from Outperform while cutting Sunstone Hotel Investors to Underperform from Market Perform.
- Ryman Hospitality also announced they were boosting their quarterly dividend, declaring the 4Q dividend of $0.25 per share.
The DJIA fell 306 points on Friday while Nasdaq was down 77, the S&P 500 fell 29 points and the 10 year treasury yield bounced .08 to 3.57%. Lodging stocks were higher. BHR rose 12% while AINC was up 7%. SOND fell -7% on the day. Raymond James downgraded Pebblebrook Hotel Trust and Xenia Hotels & Resorts to Market Perform from Outperform while cutting Sunstone Hotel Investors to Underperform […]