Zacks: Analysts Anticipate Pebblebrook Hotel Trust (PEB) Will Post Earnings of $0.68 Per Share
Analysts forecast that Pebblebrook Hotel Trust (NYSE:PEB) will announce earnings per share (EPS) of $0.68 for the current quarter, according to Zacks. Six analysts have issued estimates for Pebblebrook Hotel Trust’s earnings, with the lowest EPS estimate coming in at $0.66 and the highest estimate coming in at $0.73. Pebblebrook Hotel Trust reported earnings of $0.81 per share during the same quarter last year, which would indicate a negative year over year growth rate of 16%. The business is expected to announce its next quarterly earnings results on Monday, July 24th.
According to Zacks, analysts expect that Pebblebrook Hotel Trust will report full year earnings of $2.49 per share for the current financial year, with EPS estimates ranging from $2.43 to $2.57. For the next financial year, analysts expect that the company will report earnings of $2.40 per share, with EPS estimates ranging from $1.86 to $2.63. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Pebblebrook Hotel Trust.
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 the consensus estimate of $0.49 by $0.05. Pebblebrook Hotel Trust had a net margin of 9.65% and a return on equity of 4.67%. The firm had revenue of $182.18 million during the quarter, compared to analyst estimates of $184.69 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year.
PEB has been the subject of a number of research reports. Barclays PLC set a $31.00 target price on Pebblebrook Hotel Trust and gave the company a “buy” rating in a research note on Tuesday, February 14th. Evercore ISI lowered Pebblebrook Hotel Trust from a “hold” rating to an “underperform” rating in a research note on Friday, March 3rd. Zacks Investment Research lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, March 8th. Goldman Sachs Group Inc initiated coverage on Pebblebrook Hotel Trust in a research note on Monday, April 10th. They issued a “neutral” rating and a $27.00 target price for the company. Finally, Boenning Scattergood restated a “neutral” rating on shares of Pebblebrook Hotel Trust in a research note on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.38.
In related news, Chairman Jon E. Bortz sold 10,096 shares of the firm’s stock in a transaction dated Tuesday, April 11th. The stock was sold at an average price of $29.66, for a total value of $299,447.36. Following the transaction, the chairman now owns 664,841 shares in the company, valued at $19,719,184.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas Charles Fisher sold 13,025 shares of the firm’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $27.44, for a total value of $357,406.00. Following the completion of the transaction, the executive vice president now owns 100,577 shares in the company, valued at approximately $2,759,832.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,912 shares of company stock worth $2,048,812. 1.90% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of 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 worth $126,000 after buying an additional 600 shares during the period. WFG Advisors LP boosted its position in shares of Pebblebrook Hotel Trust by 996.5% in the fourth quarter. WFG Advisors LP now owns 4,956 shares of the real estate investment trust’s stock worth $410,000 after buying an additional 4,504 shares during the period. Acrospire Investment Management LLC boosted its position in shares of Pebblebrook Hotel Trust by 42.1% in the third quarter. Acrospire Investment Management LLC now owns 5,735 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 1,700 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of Pebblebrook Hotel Trust during the first quarter worth about $180,000. Finally, GSA Capital Partners LLP bought a new position in shares of Pebblebrook Hotel Trust during the fourth quarter worth about $214,000.
Pebblebrook Hotel Trust (NYSE:PEB) traded down 1.18% during mid-day trading on Thursday, reaching $30.87. 905,586 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $29.59 and its 200 day moving average price is $28.84. Pebblebrook Hotel Trust has a 12 month low of $23.46 and a 12 month high of $31.99. The stock has a market capitalization of $2.15 billion, a PE ratio of 44.74 and a beta of 1.25.
The company also recently declared a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Friday, March 31st were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.87%. The ex-dividend date was Wednesday, March 29th. Pebblebrook Hotel Trust’s dividend payout ratio is 226.87%.
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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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