Pebblebrook Hotel Trust (NYSE:PEB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

According to Zacks, “Pebblebrook Hotel Trust is an internally managed hotel investment company organized to acquire and invest in hotel properties located primarily in large United States cities with an emphasis on the major coastal markets. The Company may invest in resort properties located near its primary urban target markets, as well as in select destination markets. Pebblebrook Hotel Trust focuses on hotel properties in the lodging industry. In addition, the Company may seek to acquire service properties in its primary urban target markets. “

Several other research analysts have also commented on PEB. Goldman Sachs Group, Inc. (The) started coverage on shares of Pebblebrook Hotel Trust in a report on Monday, April 10th. They issued a “neutral” rating and a $27.00 price target for the company. Boenning Scattergood reaffirmed a “neutral” rating on shares of Pebblebrook Hotel Trust in a report on Wednesday, April 12th. ValuEngine raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Stifel Nicolaus lifted their price target on shares of Pebblebrook Hotel Trust from $30.00 to $31.50 and gave the company a “hold” rating in a report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $32.08.

Shares of Pebblebrook Hotel Trust (NYSE:PEB) opened at 32.24 on Friday. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 46.72 and a beta of 1.24. Pebblebrook Hotel Trust has a one year low of $23.56 and a one year high of $34.38. The firm’s 50-day moving average is $32.70 and its 200-day moving average is $30.35.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.05. Pebblebrook Hotel Trust had a net margin of 8.87% and a return on equity of 4.38%. The business had revenue of $182.18 million during the quarter, compared to analyst estimates of $184.69 million. During the same period in the previous year, the business posted $0.56 EPS. The company’s quarterly revenue was down 7.2% on a year-over-year basis. Analysts expect that Pebblebrook Hotel Trust will post $0.86 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Pebblebrook Hotel Trust by 2.4% in the first quarter. Vanguard Group Inc. now owns 11,248,351 shares of the real estate investment trust’s stock worth $328,563,000 after buying an additional 258,683 shares during the last quarter. BlackRock Inc. raised its position in Pebblebrook Hotel Trust by 4,493.2% in the first quarter. BlackRock Inc. now owns 7,499,473 shares of the real estate investment trust’s stock worth $219,060,000 after buying an additional 7,336,199 shares during the last quarter. Goldman Sachs Group Inc. raised its position 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. Brookfield Asset Management Inc. raised its position in Pebblebrook Hotel Trust by 3,466.2% in the first quarter. Brookfield Asset Management Inc. now owns 3,551,910 shares of the real estate investment trust’s stock worth $103,751,000 after buying an additional 3,452,310 shares during the last quarter. Finally, State Street Corp raised its position in Pebblebrook Hotel Trust by 0.7% in the first quarter. State Street Corp now owns 2,366,944 shares of the real estate investment trust’s stock worth $69,136,000 after buying an additional 16,505 shares during the last quarter.

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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