Wall Street Zen cut shares of Pebblebrook Hotel Trust (NYSE:PEB – Free Report) from a hold rating to a sell rating in a research note released on Saturday morning,Wall Street Zen reports.
PEB has been the subject of a number of other research reports. Citigroup boosted their target price on shares of Pebblebrook Hotel Trust from $15.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Evercore set a $21.00 price target on Pebblebrook Hotel Trust in a research report on Monday, October 26th. Zacks Research raised Pebblebrook Hotel Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 20th. Raymond James Financial lifted their price objective on Pebblebrook Hotel Trust from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, September 28th. Finally, LADENBURG THALM/SH SH boosted their price objective on Pebblebrook Hotel Trust from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.27.
View Our Latest Stock Report on Pebblebrook Hotel Trust
Pebblebrook Hotel Trust Stock Up 1.8%
Shares of PEB stock opened at $21.93 on Friday. The stock’s 50 day simple moving average is $19.05 and its 200 day simple moving average is $16.12. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.34 and a current ratio of 1.34. Pebblebrook Hotel Trust has a twelve month low of $9.99 and a twelve month high of $22.07. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.01 and a beta of 1.43.
Pebblebrook Hotel Trust (NYSE:PEB – Get Free Report) last posted its earnings results on Thursday, October 29th. The real estate investment trust reported ($0.56) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.59). The company had revenue of $402.75 million during the quarter, compared to analyst estimates 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 firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share. As a group, research analysts predict that Pebblebrook Hotel Trust will post 1.74 EPS for the current year.
Pebblebrook Hotel Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $0.01 dividend. 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 payout ratio is -4.55%.
Hedge Funds Weigh In On Pebblebrook Hotel Trust
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its stake in shares of Pebblebrook Hotel Trust by 51.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,154,627 shares of the real estate investment trust’s stock valued at $27,213,000 after purchasing an additional 736,078 shares during the period. Legal & General Group Plc bought a new position in shares of Pebblebrook Hotel Trust during the 2nd quarter worth approximately $36,905,000. Bank of New York Mellon Corp bought a new position in shares of Pebblebrook Hotel Trust during the 2nd quarter worth approximately $18,729,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Pebblebrook Hotel Trust by 5.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 788,621 shares of the real estate investment trust’s stock valued at $15,307,000 after buying an additional 41,249 shares in the last quarter. Finally, Bamco Inc. NY acquired a new stake in Pebblebrook Hotel Trust in the 2nd quarter valued at $12,115,000.
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.
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