Wall Street brokerages forecast that Pebblebrook Hotel Trust (NYSE:PEB) will report $198.61 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for Pebblebrook Hotel Trust’s earnings, with the highest sales estimate coming in at $202.44 million and the lowest estimate coming in at $191.60 million. Pebblebrook Hotel Trust reported sales of $208.96 million during the same quarter last year, which would suggest a negative year over year growth rate of 5%. The company is expected to announce its next quarterly earnings results on Thursday, October 26th.

On average, analysts expect that Pebblebrook Hotel Trust will report full-year sales of $198.61 million for the current fiscal year, with estimates ranging from $760.96 million to $775.90 million. For the next year, analysts expect that the business will post sales of $776.52 million per share, with estimates ranging from $763.53 million to $786.50 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Pebblebrook Hotel Trust.

Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. Pebblebrook Hotel Trust had a return on equity of 2.59% and a net margin of 5.09%. The company had revenue of $205.72 million during the quarter, compared to the consensus estimate of $199.30 million. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The firm’s revenue was down 3.1% compared to the same quarter last year.

A number of equities analysts recently weighed in on the company. BidaskClub raised Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research raised Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a report on Friday, July 14th. Boenning Scattergood reissued a “hold” rating on shares of Pebblebrook Hotel Trust in a report on Monday, July 31st. Barclays PLC reissued a “buy” rating and set a $35.00 price objective on shares of Pebblebrook Hotel Trust in a report on Wednesday, June 28th. Finally, TheStreet raised Pebblebrook Hotel Trust from a “c+” rating to a “b-” rating in a report on Thursday, June 22nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $31.92.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Pebblebrook Hotel Trust by 0.3% in the second quarter. Vanguard Group Inc. now owns 11,287,224 shares of the real estate investment trust’s stock valued at $363,900,000 after buying an additional 38,873 shares in the last quarter. BlackRock Inc. raised its stake 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 valued at $219,060,000 after buying an additional 7,336,199 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 valued at $189,169,000 after buying an additional 586,816 shares in the last quarter. Brookfield Asset Management Inc. raised its stake 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 valued at $103,751,000 after buying an additional 3,452,310 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Pebblebrook Hotel Trust by 156.1% in the second quarter. Principal Financial Group Inc. now owns 2,516,668 shares of the real estate investment trust’s stock valued at $81,137,000 after buying an additional 1,533,874 shares in the last quarter.

Pebblebrook Hotel Trust (PEB) opened at 32.34 on Wednesday. The firm has a market cap of $2.23 billion, a P/E ratio of 117.60 and a beta of 1.24. The stock has a 50 day moving average price of $32.76 and a 200 day moving average price of $30.72. Pebblebrook Hotel Trust has a 1-year low of $23.56 and a 1-year high of $34.38.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a $0.38 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.70%. Pebblebrook Hotel Trust’s dividend payout ratio is currently 506.68%.

Pebblebrook Hotel Trust announced that its Board of Directors has authorized a share buyback program on Thursday, July 27th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 4.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

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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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Earnings History and Estimates for Pebblebrook Hotel Trust (NYSE:PEB)

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