Pebblebrook Hotel Trust (PEB) Upgraded to “B-” at TheStreet
Pebblebrook Hotel Trust (NYSE:PEB) was upgraded by equities research analysts at TheStreet from a “c+” rating to a “b-” rating in a research report issued to clients and investors on Thursday.
Several other research analysts also recently commented on PEB. Stifel Nicolaus lifted their price target on Pebblebrook Hotel Trust from $30.00 to $31.50 and gave the stock a “hold” rating in a research report on Wednesday. Royal Bank Of Canada reissued a “buy” rating and set a $33.00 price objective on shares of Pebblebrook Hotel Trust in a report on Friday. BidaskClub raised Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. ValuEngine raised Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research raised Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.36.
Pebblebrook Hotel Trust (NYSE:PEB) traded down 0.85% during trading on Thursday, hitting $32.81. The stock had a trading volume of 1,163,062 shares. The firm has a market cap of $2.28 billion, a PE ratio of 47.55 and a beta of 1.26. The company’s 50-day moving average is $31.53 and its 200 day moving average is $29.94. Pebblebrook Hotel Trust has a 52 week low of $23.56 and a 52 week high of $33.74.
Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.05. The company had revenue of $182.18 million for the quarter, compared to the consensus estimate of $184.69 million. Pebblebrook Hotel Trust had a return on equity of 4.38% and a net margin of 8.87%. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 EPS. Equities analysts expect that Pebblebrook Hotel Trust will post $0.87 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Wednesday, June 28th. Pebblebrook Hotel Trust’s dividend payout ratio is currently 220.29%.
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In other Pebblebrook Hotel Trust news, CFO Raymond D. Martz sold 5,702 shares of the business’s stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $29.66, for a total value of $169,121.32. Following the transaction, the chief financial officer now owns 173,149 shares of the company’s stock, valued at $5,135,599.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Jon E. Bortz sold 10,096 shares of the business’s stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $29.66, for a total value of $299,447.36. Following the completion of the transaction, 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. 1.90% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the company. Clearbridge Investments LLC raised its position 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 increased 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 during the last quarter. Goldman Sachs Group Inc. increased 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 during the last quarter. Macquarie Group Ltd. increased 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 during the last quarter. Finally, Gareth Morgan Investments Limited Partnership purchased a new stake in Pebblebrook Hotel Trust during the first quarter worth $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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