Pebblebrook Hotel Trust (PEB) to Issue Quarterly Dividend of $0.38
Pebblebrook Hotel Trust (NYSE:PEB) declared a quarterly dividend on Friday, March 15th, RTT News reports. Stockholders of record on Friday, March 29th will be given a dividend of 0.38 per share by the real estate investment trust on Monday, April 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.74%. This is a boost from Pebblebrook Hotel Trust’s previous quarterly dividend of $0.25.
Pebblebrook Hotel Trust has increased its dividend by an average of 9.4% annually over the last three years. Pebblebrook Hotel Trust has a dividend payout ratio of 20.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pebblebrook Hotel Trust to earn $2.68 per share next year, which means the company should continue to be able to cover its $0.53 annual dividend with an expected future payout ratio of 19.8%.
PEB stock opened at $32.06 on Friday. Pebblebrook Hotel Trust has a twelve month low of $26.59 and a twelve month high of $41.65. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.46 and a current ratio of 0.46. The stock has a market cap of $4.21 billion, a PE ratio of 11.85, a P/E/G ratio of 2.43 and a beta of 1.35.
A number of research analysts have recently weighed in on PEB shares. Zacks Investment Research cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Thursday, November 22nd. Raymond James lowered their price objective on Pebblebrook Hotel Trust from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, December 21st. Barclays reaffirmed a “buy” rating and set a $38.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Sunday, December 23rd. ValuEngine cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Finally, Goldman Sachs Group reaffirmed a “sell” rating and set a $26.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Thursday, January 10th. Two 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. The stock has a consensus rating of “Hold” and an average price target of $36.88.
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About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is a publicly traded real estate investment trust (REIT) organized to opportunistically acquire and invest primarily in upper upscale, full-service hotels located in urban markets in major gateway cities. The Company owns 64 hotels, totaling approximately 15,400 guest rooms, located in 11 states and the District of Columbia, in the following markets: Del Mar, California; Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Santa Cruz, California; Washington, DC; Coral Gables, Florida; Key West, Florida; Naples, Florida; Buckhead, Georgia; Chicago, Illinois; Boston, Massachusetts; Minneapolis, Minnesota; New York, New York; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.
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