Pebblebrook Hotel Trust (PEB) Expected to Announce Quarterly Sales of $180.45 Million
Wall Street brokerages forecast that Pebblebrook Hotel Trust (NYSE:PEB) will post $180.45 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Pebblebrook Hotel Trust’s earnings, with estimates ranging from $170.45 million to $186.26 million. Pebblebrook Hotel Trust posted sales of $198.94 million in the same quarter last year, which would indicate a negative year over year growth rate of 9.3%. The company is scheduled to report its next earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that Pebblebrook Hotel Trust will report full year sales of $180.45 million for the current year, with estimates ranging from $760.14 million to $773.83 million. For the next year, analysts expect that the firm will report sales of $776.23 million per share, with estimates ranging from $764.50 million to $786.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Pebblebrook Hotel Trust.
Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.49. Pebblebrook Hotel Trust had a net margin of 15.15% and a return on equity of 6.99%. The firm had revenue of $201.80 million for the quarter, compared to analyst estimates of $198.11 million. During the same quarter in the previous year, the firm posted ($0.61) earnings per share. The business’s revenue was down 3.4% on a year-over-year basis.
PEB has been the subject of several recent analyst reports. BTIG Research raised shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Friday, September 22nd. Zacks Investment Research downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. BidaskClub downgraded shares of Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. ValuEngine downgraded shares of Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Pebblebrook Hotel Trust in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Pebblebrook Hotel Trust currently has a consensus rating of “Hold” and an average target price of $35.94.
Pebblebrook Hotel Trust (NYSE:PEB) opened at 35.69 on Monday. The firm has a 50-day moving average of $35.57 and a 200-day moving average of $32.91. Pebblebrook Hotel Trust has a 52 week low of $23.56 and a 52 week high of $37.63. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 129.78 and a beta of 1.26.
Pebblebrook Hotel Trust declared that its Board of Directors has initiated a share repurchase program on Thursday, July 27th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase up to 4.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date was Thursday, September 28th. Pebblebrook Hotel Trust’s dividend payout ratio is currently 117.83%.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Kemper Corp Master Retirement Trust lifted its holdings in shares of Pebblebrook Hotel Trust by 0.4% in the 2nd quarter. Kemper Corp Master Retirement Trust now owns 6,700 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 25 shares in the last quarter. Somerset Trust Co lifted its holdings in shares of Pebblebrook Hotel Trust by 0.6% in the 2nd quarter. Somerset Trust Co now owns 8,495 shares of the real estate investment trust’s stock worth $274,000 after purchasing an additional 52 shares in the last quarter. First Mercantile Trust Co. lifted its holdings in shares of Pebblebrook Hotel Trust by 1.7% in the 2nd quarter. First Mercantile Trust Co. now owns 3,680 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 60 shares in the last quarter. Federated Investors Inc. PA lifted its holdings in shares of Pebblebrook Hotel Trust by 0.9% in the 2nd quarter. Federated Investors Inc. PA now owns 10,114 shares of the real estate investment trust’s stock worth $326,000 after purchasing an additional 87 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Pebblebrook Hotel Trust by 1.2% in the 1st quarter. Prudential Financial Inc. now owns 9,858 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 120 shares in the last quarter.
TRADEMARK VIOLATION NOTICE: This piece was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international trademark & copyright law. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/30/pebblebrook-hotel-trust-peb-expected-to-announce-quarterly-sales-of-180-45-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Pebblebrook Hotel Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pebblebrook Hotel Trust and related companies with MarketBeat.com's FREE daily email newsletter.