Pebblebrook Hotel Trust (PEB) Downgraded to Hold at BidaskClub

Pebblebrook Hotel Trust (NYSE:PEB) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, July 25th.

PEB has been the subject of a number of other reports. Royal Bank Of Canada reissued a “buy” rating and set a $33.00 price objective on shares of Pebblebrook Hotel Trust in a report on Friday, June 23rd. Boenning Scattergood reissued a “neutral” rating on shares of Pebblebrook Hotel Trust in a report on Tuesday, April 18th. ValuEngine raised Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Stifel Nicolaus lifted their price objective on Pebblebrook Hotel Trust from $30.00 to $31.50 and gave the company a “hold” rating in a report on Wednesday, June 21st. Finally, Goldman Sachs Group, Inc. (The) started coverage on Pebblebrook Hotel Trust in a report on Monday, April 10th. They set a “neutral” rating and a $27.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $31.92.

Pebblebrook Hotel Trust (NYSE PEB) traded down 1.71% during trading on Tuesday, hitting $31.58. 483,975 shares of the stock traded hands. Pebblebrook Hotel Trust has a one year low of $23.56 and a one year high of $34.38. The stock has a market cap of $2.18 billion, a PE ratio of 114.84 and a beta of 1.24. The company has a 50-day moving average price of $32.69 and a 200 day moving average price of $30.76.

Pebblebrook Hotel Trust (NYSE:PEB) last issued 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 firm had revenue of $205.72 million during the quarter, compared to analysts’ expectations of $199.30 million. Pebblebrook Hotel Trust had a return on equity of 2.59% and a net margin of 5.09%. Pebblebrook Hotel Trust’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the business earned $0.81 earnings per share. Analysts expect that Pebblebrook Hotel Trust will post $1.07 earnings per share for the current year.

Pebblebrook Hotel Trust announced that its Board of Directors has authorized a share buyback plan on Thursday, July 27th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the real estate investment trust to purchase up to 4.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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Several hedge funds have recently made changes to their positions in PEB. First Mercantile Trust Co. raised 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 period. Envestnet Asset Management Inc. raised its stake in shares of Pebblebrook Hotel Trust by 16.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,336 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 600 shares during the period. SG Americas Securities LLC raised its stake in shares of Pebblebrook Hotel Trust by 6.0% in the second quarter. SG Americas Securities LLC now owns 4,401 shares of the real estate investment trust’s stock worth $142,000 after buying an additional 249 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Pebblebrook Hotel Trust during the first quarter worth $180,000. Finally, GAM Holding AG raised 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 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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