Royal Bank of Canada reiterated their buy rating on shares of Pebblebrook Hotel Trust (NYSE:PEB) in a research note released on Wednesday, October 25th. The brokerage currently has a $35.00 price objective on the real estate investment trust’s stock.
A number of other equities analysts have also recently issued reports on the stock. BidaskClub upgraded shares of Pebblebrook Hotel Trust from a hold rating to a buy rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust from a sell rating to a hold rating in a report on Friday, July 14th. Boenning Scattergood reiterated a hold rating on shares of Pebblebrook Hotel Trust in a research note on Monday, July 31st. ValuEngine downgraded shares of Pebblebrook Hotel Trust from a buy rating to a hold rating in a research note on Thursday, July 20th. Finally, Barclays PLC reaffirmed a buy rating and issued a $35.00 price target on shares of Pebblebrook Hotel Trust in a report on Wednesday, June 28th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $35.94.
Pebblebrook Hotel Trust (NYSE PEB) traded down $0.42 during trading on Wednesday, reaching $36.30. 281,100 shares of the company’s stock were exchanged, compared to its average volume of 791,222. Pebblebrook Hotel Trust has a 12 month low of $25.98 and a 12 month high of $37.63. The firm has a market cap of $2,531.83, a price-to-earnings ratio of 13.81, a PEG ratio of 1.54 and a beta of 1.21. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.31 and a current ratio of 0.31.
Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.49. Pebblebrook Hotel Trust had a net margin of 12.98% and a return on equity of 6.63%. The business had revenue of $201.80 million for the quarter, compared to analyst estimates of $198.11 million. During the same period last year, the business earned ($0.61) EPS. The company’s revenue was down 3.4% on a year-over-year basis. analysts predict that Pebblebrook Hotel Trust will post 2.51 EPS for the current year.
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Pebblebrook Hotel Trust declared that its board has authorized a stock buyback plan on Thursday, July 27th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the real estate investment trust to buy up to 4.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.52 annualized dividend and a dividend yield of 4.19%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is 117.83%.
Large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Pebblebrook Hotel Trust by 4,493.2% in the first quarter. BlackRock Inc. now owns 7,499,473 shares of the real estate investment trust’s stock worth $219,060,000 after buying an additional 7,336,199 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Pebblebrook Hotel Trust by 156.1% in the second quarter. Principal Financial Group Inc. now owns 2,516,668 shares of the real estate investment trust’s stock worth $81,137,000 after buying an additional 1,533,874 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Pebblebrook Hotel Trust by 196.7% in the third quarter. JPMorgan Chase & Co. now owns 1,089,557 shares of the real estate investment trust’s stock worth $39,311,000 after buying an additional 722,283 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Pebblebrook Hotel Trust in the second quarter worth about $19,701,000. Finally, Chartwell Investment Partners LLC acquired a new position in shares of Pebblebrook Hotel Trust in the third quarter worth about $13,645,000.
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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