Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust (NYSE:PEB) from a sell rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “Pebblebrook Hotel Trust is an internally managed hotel investment company organized to acquire and invest in hotel properties located primarily in large United States cities with an emphasis on the major coastal markets. The Company may invest in resort properties located near its primary urban target markets, as well as in select destination markets. Pebblebrook Hotel Trust focuses on hotel properties in the lodging industry. In addition, the Company may seek to acquire service properties in its primary urban target markets. “
Several other research analysts have also recently weighed in on PEB. Royal Bank of Canada reissued a buy rating and issued a $40.00 price target on shares of Pebblebrook Hotel Trust in a report on Wednesday, August 15th. Robert W. Baird set a $38.00 price target on shares of Pebblebrook Hotel Trust and gave the company a hold rating in a report on Wednesday, October 10th. Bank of America reissued a buy rating and issued a $36.00 price target on shares of Pebblebrook Hotel Trust in a report on Monday, October 29th. Finally, Stifel Nicolaus raised shares of Pebblebrook Hotel Trust from a hold rating to a buy rating and set a $38.00 price target on the stock in a report on Monday, November 12th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Pebblebrook Hotel Trust presently has an average rating of Buy and an average target price of $38.67.
Pebblebrook Hotel Trust stock opened at $34.53 on Wednesday. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 2.74 and a beta of 1.21. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61. Pebblebrook Hotel Trust has a twelve month low of $31.05 and a twelve month high of $41.65.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Thursday, November 29th will be issued a dividend of $0.2478 per share. The ex-dividend date of this dividend is Wednesday, November 28th. This represents a $0.99 annualized dividend and a dividend yield of 2.87%. Pebblebrook Hotel Trust’s dividend payout ratio is presently 38.52%.
Institutional investors and hedge funds have recently made changes to their positions in the company. Assetmark Inc. increased its holdings in shares of Pebblebrook Hotel Trust by 278.2% during the second quarter. Assetmark Inc. now owns 4,168 shares of the real estate investment trust’s stock worth $162,000 after purchasing an additional 3,066 shares during the period. Integrated Investment Consultants LLC bought a new position in shares of Pebblebrook Hotel Trust during the second quarter worth approximately $203,000. Stephens Inc. AR bought a new position in shares of Pebblebrook Hotel Trust during the second quarter worth approximately $222,000. Solstein Capital LLC bought a new position in shares of Pebblebrook Hotel Trust during the second quarter worth approximately $264,000. Finally, Fort Washington Investment Advisors Inc. OH bought a new position in shares of Pebblebrook Hotel Trust during the third quarter worth approximately $280,000.
Pebblebrook Hotel Trust Company Profile
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 28 hotels, with a total of 6,973 guest rooms. The Company owns hotels located in 9 states and the District of Columbia, including: Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Washington, DC; Coral Gables, Florida; Naples, Florida; Buckhead, Georgia; Boston, Massachusetts; Minneapolis, Minnesota; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.
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