Brokerages forecast that Pebblebrook Hotel Trust (NYSE:PEB) will announce sales of $197.59 million for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Pebblebrook Hotel Trust’s earnings, with estimates ranging from $191.60 million to $200.16 million. Pebblebrook Hotel Trust reported sales of $208.96 million in the same quarter last year, which indicates a negative year-over-year growth rate of 5.4%. The firm is scheduled to announce its next quarterly earnings report on Thursday, October 26th.

According to Zacks, analysts expect that Pebblebrook Hotel Trust will report full year sales of $197.59 million for the current financial year, with estimates ranging from $760.96 million to $775.90 million. For the next fiscal year, analysts forecast that the company will post sales of $775.88 million per share, with estimates ranging from $763.53 million to $786.50 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Pebblebrook Hotel Trust.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. Pebblebrook Hotel Trust had a return on equity of 2.59% and a net margin of 5.09%. The company had revenue of $205.72 million during the quarter, compared to the consensus estimate of $199.30 million. During the same quarter last year, the firm earned $0.81 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis.

Several research analysts have recently weighed in on PEB shares. ValuEngine upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $33.00 price target on shares of Pebblebrook Hotel Trust in a research note on Friday, June 23rd. Goldman Sachs Group, Inc. (The) downgraded Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and cut their price target for the stock from $27.00 to $26.00 in a research note on Wednesday, August 2nd. Zacks Investment Research downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating and set a $35.00 price target (up previously from $32.00) on shares of Pebblebrook Hotel Trust in a research note on Wednesday, June 28th. Three research 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 currently has a consensus rating of “Hold” and an average price target of $31.92.

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A number of institutional investors and hedge funds have recently modified their holdings of PEB. First Mercantile Trust Co. lifted its holdings in Pebblebrook Hotel Trust by 1.7% during 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. Envestnet Asset Management Inc. lifted its holdings in Pebblebrook Hotel Trust by 16.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,336 shares of the real estate investment trust’s stock worth $126,000 after purchasing an additional 600 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Pebblebrook Hotel Trust by 6.0% during the 2nd quarter. SG Americas Securities LLC now owns 4,401 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 249 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Pebblebrook Hotel Trust during the 1st quarter worth about $180,000. Finally, GAM Holding AG lifted its holdings in Pebblebrook Hotel Trust by 2.3% during the 2nd quarter. GAM Holding AG now owns 5,892 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 134 shares in the last quarter.

Pebblebrook Hotel Trust (NYSE:PEB) traded up 0.75% during midday trading on Friday, hitting $34.73. The stock had a trading volume of 860,101 shares. The company has a 50-day moving average price of $33.00 and a 200-day moving average price of $31.42. Pebblebrook Hotel Trust has a 52 week low of $23.56 and a 52 week high of $35.11. The stock has a market cap of $2.39 billion, a P/E ratio of 126.29 and a beta of 1.24.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.52 dividend on an annualized basis and a yield of 4.38%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is 506.68%.

Pebblebrook Hotel Trust announced that its Board of Directors has initiated a share repurchase program on Thursday, July 27th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy up to 4.4% of its shares through open market purchases. Shares buyback programs are often a sign 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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Earnings History and Estimates for Pebblebrook Hotel Trust (NYSE:PEB)

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