Pebblebrook Hotel Trust (NYSE:PEB) Receives Average ‘Buy’ Rating from Analysts
Pebblebrook Hotel Trust (NYSE:PEB) received an average rating of “Buy” from the nine rating agencies that currently cover the company, Marketbeat Ratings reports. Four investment analysts rated the stock with a hold recommendation and five gave the company a buy recommendation. The 12-month average target price among analysts who have covered the stock over the past year is $26.00.
Several analysts have recently released reports on the stock. Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and set a target price of $27.00 for the company in a Wednesday, Nov. 3 research report. Citigroup cut its price target on Pebblebrook Hotel Trust shares from $26.00 to $25.00 and set a “neutral” rating for the company in a Wednesday, Oct. 6 research report. UBS Group downgraded shares of Pebblebrook Hotel Trust to a “neutral” rating in a Monday, January 10 research report. Raymond James upgraded shares of Pebblebrook Hotel Trust from a “market performance” rating to an “outperform” rating and set a target price of $27.00 for the company in a Monday 10 research report. January. Finally, Bank of America downgraded shares of Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and reduced its target price for the company from $26.00 to $24.00 in a research report Monday, January 10.
In related news, CEO Jon E. Bortz sold 19,132 shares of the company in a trade on Wednesday, December 29. The shares were sold at an average price of $24.90, for a total transaction of $476,386.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Additionally, CEO Jon E. Bortz sold 7,366 shares of the company in a trade on Wednesday, December 22. The stock was sold at an average price of $25.01, for a total transaction of $184,223.66. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 30,979 shares of the company valued at $772,842. 1.90% of the shares are held by insiders of the company.
A number of institutional investors have recently increased or reduced their stake in PEB. William Blair Investment Management LLC increased its stake in Pebblebrook Hotel Trust by 50,305.0% during the third quarter. William Blair Investment Management LLC now owns 1,045,904 shares of the real estate investment trust worth $23,439,000 after purchasing an additional 1,043,829 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Pebblebrook Hotel Trust by 13.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 6,794,545 shares of the real estate investment trust worth $160,012,000 after purchasing an additional 821,565 shares in the last quarter. Brookfield Asset Management Inc. increased its stake in Pebblebrook Hotel Trust by 21.6% during the second quarter. Brookfield Asset Management Inc. now owns 3,698,578 shares of the real estate investment trust valued at $87,102,000 after purchasing an additional 656,442 shares last quarter. Heitman Real Estate Securities LLC increased its stake in Pebblebrook Hotel Trust by 20.0% during the second quarter. Heitman Real Estate Securities LLC now owns 3,185,944 shares of the real estate investment trust worth $75,029,000 after purchasing an additional 529,949 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in Pebblebrook Hotel Trust by 24.3% during the third quarter. Macquarie Group Ltd. now owns 2,249,975 shares of the real estate investment trust valued at $50,422,000 after purchasing an additional 439,869 shares last quarter.
Shares of Pebblebrook Hotel Trust opened at $22.04 on Friday. Pebblebrook Hotel Trust has a 12-month low of $17.57 and a 12-month high of $26.45. The stock has a market capitalization of $2.90 billion, a price/earnings ratio of -7.93, a P/E/G ratio of 1.34 and a beta of 1.88. The company’s fifty-day moving average is $22.30 and its 200-day moving average is $22.46. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt ratio of 0.74.
Pebblebrook Hotel Trust (NYSE:PEB) last released quarterly earnings data on Thursday, October 28. The real estate investment trust reported ($0.34) earnings per share for the quarter, meeting the consensus estimate of ($0.34). Pebblebrook Hotel Trust had a negative net margin of 56.31% and a negative return on equity of 9.74%. The company posted revenue of $238.80 million in the quarter, compared to $232.39 million expected by analysts. In the same period of the previous year, the company made ($0.51) earnings per share. The company’s quarterly revenue increased 210.1% year over year. As a group, stock analysts expect Pebblebrook Hotel Trust to post -0.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 18. Investors of record on Friday, December 31 received a dividend of $0.01 per share. The ex-dividend date was Thursday, December 30. This represents a dividend of $0.04 on an annualized basis and a dividend yield of 0.18%. Pebblebrook Hotel Trust’s dividend payout ratio is -1.44%.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is a real estate investment trust dedicated to investing in and acquiring hotel properties. Its hotels are located in markets such as: Atlanta, Georgia; Boston, MA; Chicago, Ill.; Key West, Florida; Miami, Los Angeles, Naples, Nashville, Tennessee; New York, Philadelphia, Pennsylvania; Portland, Oregon; San Diego, California; San Francisco, Seattle, Stevenson and Washington, D.C. The company was founded by Jon E.
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