Pebblebrook Hotel Trust (PEB) Raised to “Buy” at BTIG Research
Pebblebrook Hotel Trust (NYSE:PEB) was upgraded by equities research analysts at BTIG Research from a “neutral” rating to a “buy” rating in a report issued on Friday, The Fly reports.
Several other brokerages have also recently weighed in on PEB. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $35.00 price target (up from $32.00) on shares of Pebblebrook Hotel Trust in a research note on Wednesday, June 28th. ValuEngine raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Boenning Scattergood reaffirmed a “hold” rating on shares of Pebblebrook Hotel Trust in a research note on Monday, July 31st. BidaskClub cut shares of Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research raised shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Pebblebrook Hotel Trust presently has a consensus rating of “Hold” and a consensus price target of $31.92.
Shares of Pebblebrook Hotel Trust (PEB) opened at 34.47 on Friday. Pebblebrook Hotel Trust has a 1-year low of $23.56 and a 1-year high of $34.98. The firm has a 50-day moving average of $33.00 and a 200-day moving average of $31.42. The firm has a market capitalization of $2.38 billion, a PE ratio of 125.35 and a beta of 1.24.
Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $205.72 million during 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% on a year-over-year basis. During the same period last year, the business earned $0.81 EPS. On average, equities research analysts anticipate that Pebblebrook Hotel Trust will post $1.07 EPS for the current fiscal year.
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 shares. This buyback authorization allows the real estate investment trust to buy up to 4.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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A number of institutional investors have recently made changes to their positions in PEB. US Bancorp DE lifted its holdings in Pebblebrook Hotel Trust by 9,524.7% during the 1st quarter. US Bancorp DE now owns 26,853 shares of the real estate investment trust’s stock valued at $785,000 after purchasing an additional 26,574 shares during the last quarter. Comerica Bank acquired a new stake in Pebblebrook Hotel Trust during the 1st quarter valued at $486,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Pebblebrook Hotel Trust by 1.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,531 shares of the real estate investment trust’s stock valued at $921,000 after purchasing an additional 298 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Pebblebrook Hotel Trust by 28.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 142,882 shares of the real estate investment trust’s stock valued at $4,174,000 after purchasing an additional 31,854 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in Pebblebrook Hotel Trust during the 1st quarter valued at $296,000.
Pebblebrook Hotel Trust Company Profile
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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