Pebblebrook Hotel Trust (NYSE:PEB) announced a quarterly dividend on Thursday, September 15th. Stockholders of record on Friday, September 30th will be paid a dividend of 0.38 per share by the real estate investment trust on Monday, October 17th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date is Wednesday, September 28th.
Shares of Pebblebrook Hotel Trust (NYSE:PEB) opened at 26.14 on Tuesday. The company has a market capitalization of $1.88 billion, a PE ratio of 15.28 and a beta of 1.24. The stock has a 50 day moving average price of $28.82 and a 200-day moving average price of $27.69. Pebblebrook Hotel Trust has a 52 week low of $20.51 and a 52 week high of $38.88.
Pebblebrook Hotel Trust (NYSE:PEB) last released its earnings results on Monday, July 25th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.06. Pebblebrook Hotel Trust had a return on equity of 8.47% and a net margin of 17.76%. The firm had revenue of $212.27 million for the quarter, compared to analysts’ expectations of $212.93 million. During the same quarter in the previous year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities research analysts expect that Pebblebrook Hotel Trust will post $2.71 EPS for the current year.
A number of research analysts have issued reports on the company. Zacks Investment Research cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Barclays PLC set a $32.00 price target on Pebblebrook Hotel Trust and gave the company a “buy” rating in a research note on Wednesday, July 27th. Credit Suisse Group AG lowered Pebblebrook Hotel Trust from an “outperform” rating to a “neutral” rating and cut their price target for the company from $30.00 to $29.00 in a research note on Thursday, July 21st. Wells Fargo & Co. lowered Pebblebrook Hotel Trust from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 26th. Finally, BTIG Research started coverage on Pebblebrook Hotel Trust in a research note on Thursday, August 25th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $32.22.
A number of large investors have recently modified their holdings of PEB. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Pebblebrook Hotel Trust during the second quarter worth $32,033,000. Bessemer Group Inc. increased its stake in shares of Pebblebrook Hotel Trust by 150.9% in the second quarter. Bessemer Group Inc. now owns 5,463 shares of the real estate investment trust’s stock worth $144,000 after buying an additional 3,286 shares during the last quarter. Raymond James & Associates increased its stake in shares of Pebblebrook Hotel Trust by 55.5% in the second quarter. Raymond James & Associates now owns 333,690 shares of the real estate investment trust’s stock worth $8,759,000 after buying an additional 119,033 shares during the last quarter. IndexIQ Advisors LLC acquired a new stake in shares of Pebblebrook Hotel Trust during the second quarter worth $1,504,000. Finally, Teachers Advisors Inc. increased its stake in shares of Pebblebrook Hotel Trust by 678.0% in the second quarter. Teachers Advisors Inc. now owns 814,494 shares of the real estate investment trust’s stock worth $21,380,000 after buying an additional 709,806 shares during the last quarter.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is a hotel investment company. The Company operates as a real estate investment trust (REIT). The Company is organized to acquire and invest in hotel properties located primarily in cities of the United States. The Company has interests in approximately 40 hotels, including over 30 owned hotels with a total of approximately 7,410 guest rooms, and approximately 49% joint venture interest in over six hotels with a total of approximately 1,790 guest rooms.
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