Pebblebrook Hotel Trust (NYSE:PEB) Hits New 52-Week High – Here’s What Happened

Pebblebrook Hotel Trust (NYSE:PEB) reached a new 52-week high during trading on Tuesday. The company traded as high as $22.14 and last traded at $22.00, with a volume of 47,210 shares traded. The stock had previously closed at $22.00.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PEB shares. Weiss Ratings upgraded Pebblebrook Hotel Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Zacks Research upgraded Pebblebrook Hotel Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 20th. LADENBURG THALM/SH SH raised their target price on Pebblebrook Hotel Trust from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Stifel Nicolaus set a $22.00 price target on shares of Pebblebrook Hotel Trust in a report on Monday, October 19th. Finally, Wall Street Zen cut shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Pebblebrook Hotel Trust has an average rating of “Hold” and an average price target of $18.27.

Pebblebrook Hotel Trust Stock Down 1.9%

The firm has a 50 day simple moving average of $19.20 and a two-hundred day simple moving average of $16.22. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -24.80, a price-to-earnings-growth ratio of 1.04 and a beta of 1.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.38 and a quick ratio of 1.38.

Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.59). The firm had revenue of $402.75 million during the quarter, compared to analyst estimates of $393.55 million. Pebblebrook Hotel Trust had a negative net margin of 4.55% and a negative return on equity of 2.73%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 EPS. As a group, sell-side analysts expect that Pebblebrook Hotel Trust will post 1.74 EPS for the current year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a $0.01 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.2%. Pebblebrook Hotel Trust’s dividend payout ratio is currently -4.55%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PEB. Cim Investment Management Inc. boosted its holdings in shares of Pebblebrook Hotel Trust by 7.3% in the 2nd quarter. Cim Investment Management Inc. now owns 13,180 shares of the real estate investment trust’s stock valued at $256,000 after purchasing an additional 893 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Pebblebrook Hotel Trust by 9.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 11,001 shares of the real estate investment trust’s stock valued at $214,000 after purchasing an additional 910 shares during the last quarter. Corient Private Wealth LP grew its holdings in shares of Pebblebrook Hotel Trust by 1.3% during the 2nd quarter. Corient Private Wealth LP now owns 77,931 shares of the real estate investment trust’s stock valued at $1,513,000 after purchasing an additional 1,024 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Pebblebrook Hotel Trust by 10.5% during the 2nd quarter. GAMMA Investing LLC now owns 11,876 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Pebblebrook Hotel Trust by 23.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,282 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 1,185 shares during the last quarter.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust (NYSE:PEB) is a publicly traded real estate investment trust that owns and invests in upscale, full-service hotels and resorts in the United States. The company focuses on acquiring, developing, and repositioning lodging properties in major urban and resort destinations.

Its portfolio includes hotels operating under a variety of national, regional, and independent brands. Pebblebrook generally owns the underlying real estate while hotels are operated through management agreements, providing lodging accommodations, food and beverage services, meeting and event facilities, and other guest amenities.

Founded in 2009, Pebblebrook Hotel Trust has emphasized properties in markets with strong tourism, business travel, and cultural or recreational appeal.