Pebblebrook Hotel Trust (PEB) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust (NYSE:PEB) from a sell rating to a hold rating in a report released on Friday, July 14th.

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. “

PEB has been the topic of several other research reports. Royal Bank Of Canada reiterated a buy rating and set a $33.00 price target on shares of Pebblebrook Hotel Trust in a research note on Friday, June 23rd. Boenning Scattergood reiterated a neutral rating on shares of Pebblebrook Hotel Trust in a research note on Tuesday, April 18th. ValuEngine upgraded Pebblebrook Hotel Trust from a hold rating to a buy rating in a research note on Friday, June 2nd. Raymond James Financial, Inc. reiterated an outperform rating and set a $35.00 price target (up previously from $32.00) on shares of Pebblebrook Hotel Trust in a research note on Wednesday, June 28th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on Pebblebrook Hotel Trust in a research note on Monday, April 10th. They set a neutral rating and a $27.00 price target on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Pebblebrook Hotel Trust presently has a consensus rating of Hold and a consensus target price of $31.92.

Pebblebrook Hotel Trust (NYSE:PEB) opened at 31.96 on Friday. Pebblebrook Hotel Trust has a 12-month low of $23.56 and a 12-month high of $34.38. The firm has a 50-day moving average price of $32.80 and a 200-day moving average price of $30.71. The company has a market cap of $2.20 billion, a P/E ratio of 116.22 and a beta of 1.24.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. Pebblebrook Hotel Trust had a return on equity of 2.59% and a net margin of 5.09%. The firm had revenue of $205.72 million for the quarter, compared to the consensus estimate of $199.30 million. During the same period in the previous year, the business earned $0.81 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, analysts forecast that Pebblebrook Hotel Trust will post $1.03 earnings per share for the current fiscal year.

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Pebblebrook Hotel Trust announced that its Board of Directors has approved a share repurchase program on Thursday, July 27th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy up to 4.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.76%. Pebblebrook Hotel Trust’s payout ratio is 506.68%.

Several hedge funds have recently modified their holdings of the company. Somerset Trust Co increased its stake in shares of 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 last quarter. First Mercantile Trust Co. increased its stake in shares of Pebblebrook Hotel Trust by 1.7% in the second quarter. First Mercantile Trust Co. now owns 3,680 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 60 shares during the last quarter. Federated Investors Inc. PA increased its stake in shares of Pebblebrook Hotel Trust by 0.9% in the second quarter. Federated Investors Inc. PA now owns 10,114 shares of the real estate investment trust’s stock worth $326,000 after buying an additional 87 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of 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 last quarter. Finally, GAM Holding AG increased its stake in shares of Pebblebrook Hotel Trust by 2.3% in the second quarter. GAM Holding AG now owns 5,892 shares of the real estate investment trust’s stock worth $190,000 after buying an additional 134 shares during the last quarter.

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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