Pebblebrook Hotel Trust (NYSE:PEB) Sets New 1-Year High – Here’s Why

Pebblebrook Hotel Trust (NYSE:PEB)’s share price hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as $22.14 and last traded at $22.00, with a volume of 47,210 shares trading hands. The stock had previously closed at $22.00.

Analysts Set New Price Targets

Several research firms have commented on PEB. Barclays cut their target price on Pebblebrook Hotel Trust from $15.00 to $14.00 and set an “underweight” rating on the stock in a research note on Thursday, August 27th. Morgan Stanley raised their price target on shares of Pebblebrook Hotel Trust from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Thursday, October 22nd. Cantor Fitzgerald lifted their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Raymond James Financial boosted their price objective on shares of Pebblebrook Hotel Trust from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, September 28th. Finally, LADENBURG THALM/SH SH increased their target price on shares of Pebblebrook Hotel Trust from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Pebblebrook Hotel Trust presently has a consensus rating of “Hold” and an average price target of $18.27.

Pebblebrook Hotel Trust Trading Up 0.1%

The company has a market cap of $2.49 billion, a price-to-earnings ratio of -25.10, a P/E/G ratio of 1.01 and a beta of 1.43. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a fifty day moving average price of $19.05 and a 200 day moving average price of $16.12.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.59). The firm had revenue of $402.75 million for the quarter, compared to the consensus estimate of $393.55 million. Pebblebrook Hotel Trust had a negative return on equity of 1.83% and a negative net margin of 3.11%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. As a group, equities analysts predict that Pebblebrook Hotel Trust will post 1.74 EPS for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio is presently -4.55%.

Institutional Investors Weigh In On Pebblebrook Hotel Trust

Several hedge funds have recently bought and sold shares of the company. VCI Wealth Management LLC acquired a new position in Pebblebrook Hotel Trust in the 3rd quarter valued at about $2,293,000. State of Wyoming lifted its holdings in Pebblebrook Hotel Trust by 26.6% during the 3rd quarter. State of Wyoming now owns 46,238 shares of the real estate investment trust’s stock worth $867,000 after purchasing an additional 9,713 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in Pebblebrook Hotel Trust by 3.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 155,288 shares of the real estate investment trust’s stock worth $2,913,000 after purchasing an additional 5,223 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Pebblebrook Hotel Trust by 23.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,282 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 1,185 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Pebblebrook Hotel Trust by 25.2% in the 3rd quarter. GAMMA Investing LLC now owns 14,874 shares of the real estate investment trust’s stock valued at $279,000 after purchasing an additional 2,998 shares during the period.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE:PEB) is a publicly traded real estate investment trust that owns and invests in upscale, full-service hotels and resorts in the United States. The company focuses on acquiring, developing, and repositioning lodging properties in major urban and resort destinations.

Its portfolio includes hotels operating under a variety of national, regional, and independent brands. Pebblebrook generally owns the underlying real estate while hotels are operated through management agreements, providing lodging accommodations, food and beverage services, meeting and event facilities, and other guest amenities.

Founded in 2009, Pebblebrook Hotel Trust has emphasized properties in markets with strong tourism, business travel, and cultural or recreational appeal.