Pebblebrook Hotel Trust (PEB) Announces $0.38 Quarterly Dividend
Pebblebrook Hotel Trust (NYSE:PEB) announced a quarterly dividend on Friday, September 15th, RTT News reports. Stockholders of record on Friday, September 29th will be paid a dividend of 0.38 per share by the real estate investment trust on Monday, October 16th. This represents a $1.52 annualized dividend and a dividend yield of 4.45%.
Pebblebrook Hotel Trust has increased its dividend payment by an average of 34.2% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Pebblebrook Hotel Trust has a dividend payout ratio of 60.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Pebblebrook Hotel Trust to earn $2.55 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 59.6%.
Shares of Pebblebrook Hotel Trust (NYSE PEB) opened at 34.19 on Friday. The stock’s 50 day moving average price is $32.91 and its 200 day moving average price is $31.27. Pebblebrook Hotel Trust has a one year low of $23.56 and a one year high of $34.93. The company has a market cap of $2.36 billion, a PE ratio of 124.35 and a beta of 1.24.
Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The business had revenue of $205.72 million for the quarter, compared to analysts’ expectations of $199.30 million. Pebblebrook Hotel Trust had a net margin of 5.09% and a return on equity of 2.59%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 EPS. Equities analysts predict that Pebblebrook Hotel Trust will post $1.07 earnings per share for the current fiscal year.
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Pebblebrook Hotel Trust announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to repurchase up to 4.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
Several analysts have recently issued reports on the stock. ValuEngine upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Goldman Sachs Group, Inc. (The) cut shares of Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and decreased their target price for the company from $27.00 to $26.00 in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Pebblebrook Hotel Trust in a report on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Pebblebrook Hotel Trust presently has an average rating of “Hold” and a consensus target price of $31.92.
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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