Trade Report: The Pebblebrook Hotel Trust (PEB) Upgraded by Zacks Investment Research to Buy

The Pebblebrook Hotel Trust (PEB) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust (NYSE:PEB) from a hold rating to a buy rating in a report published on Thursday. The brokerage currently has $31.00 price target on the real estate investment trust’s stock.

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 subject of several other reports. BTIG Research began coverage on Pebblebrook Hotel Trust in a research report on Thursday, August 25th. They set a neutral rating for the company. Barclays PLC set a $32.00 price objective on Pebblebrook Hotel Trust and gave the stock a buy rating in a research report on Wednesday, July 27th. Evercore ISI downgraded Pebblebrook Hotel Trust from a buy rating to a hold rating and lifted their price objective for the stock from $27.00 to $30.00 in a research report on Wednesday, July 20th. TheStreet raised shares of Pebblebrook Hotel Trust from a hold rating to a buy rating in a research note on Monday, July 11th. Finally, Credit Suisse Group AG cut shares of Pebblebrook Hotel Trust from an outperform rating to a neutral rating and lowered their target price for the stock from $30.00 to $29.00 in a research note on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $30.67.

Pebblebrook Hotel Trust (NYSE:PEB) traded up 0.22% during trading on Thursday, reaching $27.21. The company had a trading volume of 29,663 shares. The firm has a 50-day moving average of $27.53 and a 200-day moving average of $27.59. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 15.90 and a beta of 1.35. Pebblebrook Hotel Trust has a 1-year low of $20.51 and a 1-year high of $38.12.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.06. Pebblebrook Hotel Trust had a return on equity of 8.47% and a net margin of 17.76%. The firm earned $212.27 million during the quarter, compared to the consensus estimate of $212.93 million. During the same period in the previous year, the firm posted $0.72 EPS. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, analysts anticipate that Pebblebrook Hotel Trust will post $2.71 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.38 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.52 annualized dividend and a dividend yield of 5.60%. Pebblebrook Hotel Trust’s dividend payout ratio is presently 88.89%.

Institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC raised its position in Pebblebrook Hotel Trust by 47.5% in the second quarter. Acrospire Investment Management LLC now owns 4,035 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 1,300 shares during the last quarter. Bessemer Group Inc. raised its position in Pebblebrook Hotel Trust by 150.9% in the second quarter. Bessemer Group Inc. now owns 5,463 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 3,286 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Pebblebrook Hotel Trust by 12.3% in the third quarter. Nisa Investment Advisors LLC now owns 6,400 shares of the real estate investment trust’s stock valued at $170,000 after buying an additional 700 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Pebblebrook Hotel Trust by 101.3% in the third quarter. BNP Paribas Arbitrage SA now owns 6,685 shares of the real estate investment trust’s stock valued at $178,000 after buying an additional 3,364 shares during the last quarter. Finally, Stifel Financial Corp raised its position in Pebblebrook Hotel Trust by 7.4% in the second quarter. Stifel Financial Corp now owns 8,171 shares of the real estate investment trust’s stock valued at $215,000 after buying an additional 564 shares during the last quarter.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust is a hotel investment company. The Company operates as a real estate investment trust (REIT). The Company is organized to acquire and invest in hotel properties located primarily in cities of the United States. The Company has interests in approximately 40 hotels, including over 30 owned hotels with a total of approximately 7,410 guest rooms, and approximately 49% joint venture interest in over six hotels with a total of approximately 1,790 guest rooms.

Related posts

Leave a Comment