Pebblebrook Hotel Trust (PEB) Updates FY17 Earnings Guidance
Pebblebrook Hotel Trust (NYSE:PEB) updated its FY17 earnings guidance on Monday. The company provided earnings per share guidance of $2.48-2.52 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.52.
Several brokerages have weighed in on PEB. Zacks Investment Research raised Pebblebrook Hotel Trust from a sell rating to a hold rating in a research report on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) lowered Pebblebrook Hotel Trust from a neutral rating to a sell rating and dropped their target price for the stock from $27.00 to $26.00 in a research report on Wednesday, August 2nd. ValuEngine raised Pebblebrook Hotel Trust from a hold rating to a buy rating in a research report on Friday, September 1st. Janney Montgomery Scott raised Pebblebrook Hotel Trust from a neutral rating to a buy rating and increased their target price for the stock from $31.00 to $40.00 in a research report on Wednesday, September 27th. Finally, Robert W. Baird lowered Pebblebrook Hotel Trust from an outperform rating to a neutral rating and set a $34.00 target price on the stock. in a research report on Monday, October 2nd. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $35.06.
Shares of Pebblebrook Hotel Trust (PEB) traded down 1.88% on Monday, hitting $35.00. The stock had a trading volume of 1,276,193 shares. The firm has a 50 day moving average price of $35.32 and a 200-day moving average price of $32.67. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 127.27 and a beta of 1.26. Pebblebrook Hotel Trust has a 52 week low of $23.56 and a 52 week high of $37.63.
Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.49. Pebblebrook Hotel Trust had a return on equity of 2.59% and a net margin of 5.09%. The firm had revenue of $201.80 million during the quarter, compared to the consensus estimate of $198.11 million. During the same quarter in the previous year, the company posted ($0.61) EPS. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. Analysts anticipate that Pebblebrook Hotel Trust will post $1.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.52 annualized dividend and a yield of 4.34%. Pebblebrook Hotel Trust’s payout ratio is 506.68%.
Pebblebrook Hotel Trust declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 27th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the real estate investment trust to buy up to 4.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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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