Pebblebrook Hotel Trust (PEB) Given a $30.00 Price Target at Barclays PLC
Pebblebrook Hotel Trust (NYSE:PEB) received a $30.00 price target from equities researchers at Barclays PLC in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Barclays PLC’s price target indicates a potential upside of 6.50% from the company’s previous close.
Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, August 31st. Wells Fargo & Co. cut Pebblebrook Hotel Trust from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 26th. TheStreet cut Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating in a research note on Thursday, November 17th. Finally, BTIG Research began coverage on Pebblebrook Hotel Trust in a research note on Thursday, August 25th. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $30.44.
Shares of Pebblebrook Hotel Trust (NYSE:PEB) traded up 1.73% on Wednesday, reaching $28.17. The company had a trading volume of 272,578 shares. Pebblebrook Hotel Trust has a 12 month low of $20.51 and a 12 month high of $32.56. The firm’s 50 day moving average is $26.35 and its 200 day moving average is $27.25. The firm has a market capitalization of $2.03 billion, a PE ratio of 42.04 and a beta of 1.25.
Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings data on Friday, October 28th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. The company earned $208.90 million during the quarter, compared to analyst estimates of $215.05 million. Pebblebrook Hotel Trust had a return on equity of 4.67% and a net margin of 9.65%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 earnings per share. On average, equities research analysts expect that Pebblebrook Hotel Trust will post $2.73 earnings per share for the current fiscal year.
In other Pebblebrook Hotel Trust news, Chairman Jon E. Bortz sold 43,424 shares of the firm’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $28.52, for a total value of $1,238,452.48. Following the sale, the chairman now directly owns 683,729 shares in the company, valued at $19,499,951.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ron E. Jackson sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $23.98, for a total value of $95,920.00. Following the completion of the sale, the director now owns 28,297 shares in the company, valued at $678,562.06. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of PEB. Acrospire Investment Management LLC boosted its stake in Pebblebrook Hotel Trust by 47.5% in the second quarter. Acrospire Investment Management LLC now owns 4,035 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 1,300 shares in the last quarter. Amica Pension Fund Board of Trustees purchased a new position in shares of Pebblebrook Hotel Trust during the third quarter valued at about $128,000. Bessemer Group Inc. raised its position in shares of Pebblebrook Hotel Trust by 150.9% in the second quarter. Bessemer Group Inc. now owns 5,463 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 3,286 shares during the last quarter. Amica Mutual Insurance Co. purchased a new position in shares of Pebblebrook Hotel Trust during the third quarter valued at about $160,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Pebblebrook Hotel Trust by 12.3% in the third quarter. Nisa Investment Advisors LLC now owns 6,400 shares of the real estate investment trust’s stock valued at $170,000 after buying an additional 700 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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