Wall Street analysts expect Pebblebrook Hotel Trust (NYSE:PEB) to post sales of $203.19 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Pebblebrook Hotel Trust’s earnings, with the lowest sales estimate coming in at $199.54 million and the highest estimate coming in at $209.30 million. Pebblebrook Hotel Trust reported sales of $208.96 million during the same quarter last year, which indicates a negative year over year growth rate of 2.8%. The firm is scheduled to announce its next earnings results on Thursday, October 26th.
On average, analysts expect that Pebblebrook Hotel Trust will report full year sales of $203.19 million for the current year, with estimates ranging from $760.54 million to $777.72 million. For the next fiscal year, analysts anticipate that the firm will report sales of $772.33 million per share, with estimates ranging from $763.53 million to $781.54 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Pebblebrook Hotel Trust.
Pebblebrook Hotel Trust (NYSE:PEB) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $205.72 million during the quarter, compared to analysts’ expectations of $199.30 million. Pebblebrook Hotel Trust had a net margin of 5.09% and a return on equity of 2.59%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the company posted $0.81 earnings per share.
A number of research firms recently issued reports on PEB. TheStreet raised Pebblebrook Hotel Trust from a “c+” rating to a “b-” rating in a research note on Thursday, June 22nd. BidaskClub cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Monday. Goldman Sachs Group, Inc. (The) began coverage on Pebblebrook Hotel Trust in a research note on Monday, April 10th. They set a “neutral” rating and a $27.00 target price for the company. Zacks Investment Research raised Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $33.00 target price on shares of Pebblebrook Hotel Trust in a research note on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $32.08.
Pebblebrook Hotel Trust (NYSE PEB) traded up 0.92% during mid-day trading on Friday, hitting $33.98. 767,097 shares of the company traded hands. The company’s 50-day moving average price is $32.89 and its 200 day moving average price is $30.52. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 117.17 and a beta of 1.23. Pebblebrook Hotel Trust has a one year low of $23.56 and a one year high of $34.38.
Pebblebrook Hotel Trust declared that its board has authorized a share repurchase program on Thursday, July 27th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the real estate investment trust to buy up to 4.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.52 dividend on an annualized basis and a yield of 4.47%. Pebblebrook Hotel Trust’s payout ratio is 506.68%.
A number of institutional investors have recently added to or reduced their stakes in the company. Somerset Trust Co increased its position in Pebblebrook Hotel Trust by 0.6% in the second quarter. Somerset Trust Co now owns 8,495 shares of the real estate investment trust’s stock worth $274,000 after buying an additional 52 shares during the period. Prudential Financial Inc. increased its position in Pebblebrook Hotel Trust by 1.2% in the first quarter. Prudential Financial Inc. now owns 9,858 shares of the real estate investment trust’s stock worth $288,000 after buying an additional 120 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Pebblebrook Hotel Trust by 1.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,531 shares of the real estate investment trust’s stock worth $921,000 after buying an additional 298 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Pebblebrook Hotel Trust by 3.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,549 shares of the real estate investment trust’s stock worth $337,000 after buying an additional 350 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Pebblebrook Hotel Trust by 8.6% in the second quarter. Nisa Investment Advisors LLC now owns 6,410 shares of the real estate investment trust’s stock worth $200,000 after buying an additional 510 shares during the period.
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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