Pebblebrook Hotel Trust (NYSE:PEB) Price Target Raised to $23.00

Pebblebrook Hotel Trust (NYSE:PEB) had its price target boosted by Cantor Fitzgerald from $19.00 to $23.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Several other analysts also recently weighed in on PEB. Weiss Ratings raised shares of Pebblebrook Hotel Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Evercore set a $21.00 price target on shares of Pebblebrook Hotel Trust in a report on Monday, October 26th. Zacks Research upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 20th. Ladenburg Thalmann & Co. Inc. boosted their price objective on shares of Pebblebrook Hotel Trust from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Finally, Citigroup boosted their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.17.

Pebblebrook Hotel Trust Stock Performance

Shares of PEB opened at $21.61 on Tuesday. Pebblebrook Hotel Trust has a 12 month low of $10.46 and a 12 month high of $22.40. The stock has a fifty day moving average price of $19.60 and a 200-day moving average price of $16.50. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.86. The firm has a market cap of $2.41 billion, a PE ratio of 11.60, a P/E/G ratio of 0.94 and a beta of 1.45.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.59). Pebblebrook Hotel Trust had a negative return on equity of 2.73% and a negative net margin of 4.55%. The business had revenue of $402.75 million during the quarter, compared to analyst estimates of $393.55 million. During the same period in the previous year, the business earned $0.51 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts predict that Pebblebrook Hotel Trust will post 1.76 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently -4.55%.

Hedge Funds Weigh In On Pebblebrook Hotel Trust

A number of institutional investors have recently modified their holdings of PEB. Allworth Financial LP lifted its holdings in Pebblebrook Hotel Trust by 85.2% in the third quarter. Allworth Financial LP now owns 1,850 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 851 shares during the period. Nykredit A S purchased a new position in Pebblebrook Hotel Trust in the second quarter valued at $51,000. Group One Trading LLC purchased a new position in Pebblebrook Hotel Trust in the second quarter valued at $86,000. Nisa Investment Advisors LLC raised its position in shares of Pebblebrook Hotel Trust by 23.2% in the third quarter. Nisa Investment Advisors LLC now owns 6,282 shares of the real estate investment trust’s stock worth $118,000 after acquiring an additional 1,185 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Pebblebrook Hotel Trust in the first quarter worth about $127,000.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust is a publicly traded real estate investment trust that owns and invests in upper-upscale hotels and resorts. Its properties are generally located in major U.S. urban markets and resort destinations. The company’s hotels offer lodging and related services, which may include dining, meeting and event facilities, and other guest amenities. Pebblebrook typically works with hotel management companies to operate its properties rather than operating them under a single Pebblebrook-branded hotel chain.