Raymond James Financial, Inc. reaffirmed their outperform rating on shares of Pebblebrook Hotel Trust (NYSE:PEB) in a report issued on Wednesday, June 28th. The brokerage currently has a $35.00 price target on the real estate investment trust’s stock, up from their prior price target of $32.00.
A number of other research firms have also recently issued reports on PEB. ValuEngine upgraded Pebblebrook Hotel Trust from a hold rating to a buy rating in a report on Friday, June 2nd. Boenning Scattergood reissued a neutral rating on shares of Pebblebrook Hotel Trust in a report on Wednesday, April 12th. Zacks Investment Research upgraded Pebblebrook Hotel Trust from a sell rating to a hold rating in a research note on Saturday, April 29th. BidaskClub upgraded Pebblebrook Hotel Trust from a hold rating to a buy rating in a research report on Tuesday, June 13th. Finally, Barclays PLC reiterated a buy rating and set a $35.00 price target on shares of Pebblebrook Hotel Trust in a research report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $31.44.
Shares of Pebblebrook Hotel Trust (NYSE PEB) opened at 33.59 on Wednesday. The company’s 50-day moving average is $31.94 and its 200 day moving average is $30.08. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 48.68 and a beta of 1.23. Pebblebrook Hotel Trust has a 1-year low of $23.56 and a 1-year high of $34.38.
Pebblebrook Hotel Trust (NYSE:PEB) last released its earnings results on Thursday, April 27th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. The business had revenue of $182.18 million during the quarter, compared to the consensus estimate of $184.69 million. Pebblebrook Hotel Trust had a net margin of 8.87% and a return on equity of 4.38%. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 EPS. On average, analysts expect that Pebblebrook Hotel Trust will post $0.87 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a dividend of $0.38 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.52 annualized dividend and a dividend yield of 4.53%. Pebblebrook Hotel Trust’s dividend payout ratio is presently 220.29%.
Several large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its stake in Pebblebrook Hotel Trust by 16.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,336 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 600 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Pebblebrook Hotel Trust during the first quarter worth approximately $180,000. GSA Capital Partners LLP purchased a new stake in Pebblebrook Hotel Trust during the fourth quarter worth approximately $214,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Pebblebrook Hotel Trust during the first quarter worth approximately $232,000. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Pebblebrook Hotel Trust during the first quarter worth approximately $261,000.
Pebblebrook Hotel Trust Company Profile
Pebblebrook Hotel Trust is an internally managed hotel investment company. The Company is a real estate investment trust (REIT) that acquires and invests in hotel properties located primarily in cities of the United States. As of December 31, 2016, the Company owned 29 hotels with a total of 7,219 guest rooms.
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