Pebblebrook Hotel Trust (PEB) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust (NYSE:PEB) from a hold rating to a buy rating in a research note issued to investors on Thursday. Zacks Investment Research currently has $31.00 target price on the real estate investment trust’s stock.
According to Zacks, “Pebblebrook Hotel Trust is an internally managed hotel investment company organized to acquire and invest in hotel properties located primarily in large United States cities with an emphasis on the major coastal markets. The Company may invest in resort properties located near its primary urban target markets, as well as in select destination markets. Pebblebrook Hotel Trust focuses on hotel properties in the lodging industry. In addition, the Company may seek to acquire service properties in its primary urban target markets. “
A number of other analysts have also recently commented on PEB. Barclays PLC set a $32.00 price target on Pebblebrook Hotel Trust and gave the stock a buy rating in a research report on Wednesday, July 27th. Credit Suisse Group AG cut Pebblebrook Hotel Trust from an outperform rating to a neutral rating and lowered their price target for the stock from $30.00 to $29.00 in a research report on Thursday, July 21st. Wells Fargo & Co. cut Pebblebrook Hotel Trust from an outperform rating to a market perform rating in a research report on Tuesday, July 26th. BTIG Research assumed coverage on Pebblebrook Hotel Trust in a research report on Thursday, August 25th. They set a neutral rating for the company. Finally, Evercore ISI cut Pebblebrook Hotel Trust from a buy rating to a hold rating and lifted their price target for the stock from $27.00 to $30.00 in a research report on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $30.67.
Pebblebrook Hotel Trust (NYSE:PEB) traded up 0.22% during mid-day trading on Thursday, hitting $27.21. The company had a trading volume of 29,663 shares. The firm has a market capitalization of $1.96 billion, a P/E ratio of 15.90 and a beta of 1.35. The company has a 50-day moving average price of $27.53 and a 200 day moving average price of $27.59. Pebblebrook Hotel Trust has a 12 month low of $20.51 and a 12 month high of $38.12.
Pebblebrook Hotel Trust (NYSE:PEB) last announced its earnings results on Monday, July 25th. The real estate investment trust reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.06. Pebblebrook Hotel Trust had a return on equity of 8.47% and a net margin of 17.76%. The firm had revenue of $212.27 million for the quarter, compared to the consensus estimate of $212.93 million. During the same period in the previous year, the business earned $0.72 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts forecast that Pebblebrook Hotel Trust will post $2.71 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.52 dividend on an annualized basis and a yield of 5.60%. Pebblebrook Hotel Trust’s payout ratio is 88.89%.
A number of institutional investors have recently added to or reduced their stakes in the company. Aperio Group LLC acquired a new position in Pebblebrook Hotel Trust during the first quarter worth $377,000. Prudential Financial Inc. boosted its position in Pebblebrook Hotel Trust by 142.9% in the first quarter. Prudential Financial Inc. now owns 19,038 shares of the real estate investment trust’s stock worth $553,000 after buying an additional 11,200 shares during the last quarter. Palisade Capital Management LLC NJ boosted its position in Pebblebrook Hotel Trust by 2.8% in the first quarter. Palisade Capital Management LLC NJ now owns 96,195 shares of the real estate investment trust’s stock worth $2,796,000 after buying an additional 2,590 shares during the last quarter. M&T Bank Corp boosted its position in Pebblebrook Hotel Trust by 20.0% in the first quarter. M&T Bank Corp now owns 46,320 shares of the real estate investment trust’s stock worth $1,347,000 after buying an additional 7,716 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in Pebblebrook Hotel Trust by 2.8% in the first quarter. Lazard Asset Management LLC now owns 159,992 shares of the real estate investment trust’s stock worth $4,650,000 after buying an additional 4,323 shares during the last quarter.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is a hotel investment company. The Company operates as a real estate investment trust (REIT). The Company is organized to acquire and invest in hotel properties located primarily in cities of the United States. The Company has interests in approximately 40 hotels, including over 30 owned hotels with a total of approximately 7,410 guest rooms, and approximately 49% joint venture interest in over six hotels with a total of approximately 1,790 guest rooms.
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