Pebblebrook Hotel Trust (NYSE:PEB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “Pebblebrook Hotel Trust is an internally managed hotel investment company organized to acquire and invest in hotel properties located primarily in large United States cities with an emphasis on the major coastal markets. The Company may invest in resort properties located near its primary urban target markets, as well as in select destination markets. Pebblebrook Hotel Trust focuses on hotel properties in the lodging industry. In addition, the Company may seek to acquire service properties in its primary urban target markets. “
Several other analysts also recently issued reports on PEB. Barclays PLC set a $32.00 price objective on shares of Pebblebrook Hotel Trust and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Credit Suisse Group AG downgraded shares of Pebblebrook Hotel Trust from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $30.00 to $29.00 in a research note on Thursday, July 21st. Wells Fargo & Co. downgraded shares of Pebblebrook Hotel Trust from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 26th. BTIG Research assumed coverage on shares of Pebblebrook Hotel Trust in a research note on Thursday, August 25th. They set a “neutral” rating for the company. Finally, Evercore ISI downgraded shares of Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating and lifted their price target for the company from $27.00 to $30.00 in a research note on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $32.22.
Pebblebrook Hotel Trust (NYSE:PEB) opened at 26.00 on Wednesday. Pebblebrook Hotel Trust has a 52-week low of $20.51 and a 52-week high of $38.88. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 15.20 and a beta of 1.24. The firm’s 50-day moving average price is $28.42 and its 200-day moving average price is $27.66.
Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.06. The business earned $212.27 million during the quarter, compared to the consensus estimate of $212.93 million. Pebblebrook Hotel Trust had a net margin of 17.76% and a return on equity of 8.47%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 earnings per share. On average, equities analysts anticipate that Pebblebrook Hotel Trust will post $2.71 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 5.85%. The ex-dividend date is Wednesday, September 28th. Pebblebrook Hotel Trust’s dividend payout ratio is currently 88.89%.
A number of institutional investors have recently added to or reduced their stakes in PEB. Nomura Asset Management Co. Ltd. raised its position in Pebblebrook Hotel Trust by 6.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 41,400 shares of the real estate investment trust’s stock valued at $1,160,000 after buying an additional 2,490 shares in the last quarter. Aperio Group LLC purchased a new position in Pebblebrook Hotel Trust during the first quarter valued at about $377,000. Prudential Financial Inc. raised its position in Pebblebrook Hotel Trust by 142.9% in the first quarter. Prudential Financial Inc. now owns 19,038 shares of the real estate investment trust’s stock valued at $553,000 after buying an additional 11,200 shares in the last quarter. Columbia Partners L L C Investment Management purchased a new position in Pebblebrook Hotel Trust during the first quarter valued at about $4,933,000. Finally, Palisade Capital Management LLC NJ raised its position in Pebblebrook Hotel Trust by 2.8% in the first quarter. Palisade Capital Management LLC NJ now owns 96,195 shares of the real estate investment trust’s stock valued at $2,796,000 after buying an additional 2,590 shares in 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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