BidaskClub Upgrades Pebblebrook Hotel Trust (PEB) to “Buy”
Pebblebrook Hotel Trust (NYSE:PEB) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
Other equities analysts have also issued research reports about the company. Zacks Investment Research lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, March 8th. Barclays PLC set a $31.00 price target on Pebblebrook Hotel Trust and gave the company a “buy” rating in a research note on Tuesday, February 14th. Boenning Scattergood reaffirmed a “neutral” rating on shares of Pebblebrook Hotel Trust in a research note on Tuesday, April 18th. Evercore ISI lowered Pebblebrook Hotel Trust from a “hold” rating to an “underperform” rating in a research note on Friday, March 3rd. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on Pebblebrook Hotel Trust in a research note on Monday, April 10th. They set a “neutral” rating and a $27.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $29.33.
Shares of Pebblebrook Hotel Trust (NYSE:PEB) traded up 1.48% during midday trading on Tuesday, hitting $32.87. 556,575 shares of the company were exchanged. Pebblebrook Hotel Trust has a one year low of $23.56 and a one year high of $33.15. The company’s 50 day moving average price is $31.18 and its 200 day moving average price is $29.77. The firm has a market cap of $2.29 billion, a P/E ratio of 47.64 and a beta of 1.26.
Pebblebrook Hotel Trust (NYSE:PEB) last announced its earnings results on Thursday, April 27th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.49 by $0.05. The company had revenue of $182.18 million for the quarter, compared to analysts’ expectations of $184.69 million. Pebblebrook Hotel Trust had a return on equity of 4.38% and a net margin of 8.87%. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share. Equities analysts expect that Pebblebrook Hotel Trust will post $0.87 EPS for the current year.
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In other news, CFO Raymond D. Martz sold 12,828 shares of the firm’s stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $27.92, for a total transaction of $358,157.76. Following the sale, the chief financial officer now owns 178,851 shares of the company’s stock, valued at $4,993,519.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 sale, the chairman now directly owns 664,841 shares in the company, valued at approximately $19,719,184.06. The disclosure for this sale can be found here. Insiders sold 72,912 shares of company stock worth $2,048,812 in the last three months. Insiders own 1.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Clearbridge Investments LLC raised its stake in Pebblebrook Hotel Trust by 2.0% in the first quarter. Clearbridge Investments LLC now owns 1,650,438 shares of the real estate investment trust’s stock worth $48,209,000 after buying an additional 32,904 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Pebblebrook Hotel Trust by 0.7% in the first quarter. Public Employees Retirement System of Ohio now owns 82,756 shares of the real estate investment trust’s stock worth $2,417,000 after buying an additional 615 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Pebblebrook Hotel Trust by 10.0% in the first quarter. Goldman Sachs Group Inc. now owns 6,476,191 shares of the real estate investment trust’s stock worth $189,169,000 after buying an additional 586,816 shares in the last quarter. Macquarie Group Ltd. raised its stake in Pebblebrook Hotel Trust by 15.3% in the first quarter. Macquarie Group Ltd. now owns 884,359 shares of the real estate investment trust’s stock worth $25,832,000 after buying an additional 117,051 shares in the last quarter. Finally, Gareth Morgan Investments Limited Partnership acquired a new stake in Pebblebrook Hotel Trust during the first quarter worth approximately $2,038,000.
About Pebblebrook Hotel Trust
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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