Today: Today, Pebblebrook Hotel Trust (PEB) Cut to “Strong Sell” at The Zacks Investment Research

Today, Pebblebrook Hotel Trust (PEB) Cut to “Strong Sell” at The Zacks Investment Research

Pebblebrook Hotel Trust (NYSE:PEB) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday.

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 equities research analysts have also issued reports on the company. BTIG Research assumed coverage on Pebblebrook Hotel Trust in a research note on Thursday, August 25th. They set a “neutral” rating for the company. Barclays PLC set a $32.00 price target on Pebblebrook Hotel Trust and gave the company a “buy” rating in a research report on Wednesday, July 27th. Wells Fargo & Co. downgraded Pebblebrook Hotel Trust from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 26th. Credit Suisse Group AG downgraded Pebblebrook Hotel Trust from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $30.00 to $29.00 in a research report on Thursday, July 21st. Finally, Evercore ISI downgraded Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating and raised their price target for the company from $27.00 to $30.00 in a research report on Wednesday, July 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $30.44.

Pebblebrook Hotel Trust (NYSE:PEB) traded down 1.17% during trading on Wednesday, reaching $27.84. 648,185 shares of the company’s stock traded hands. The stock has a market capitalization of $2.01 billion, a P/E ratio of 41.55 and a beta of 1.25. The company has a 50-day moving average of $26.39 and a 200 day moving average of $27.26. Pebblebrook Hotel Trust has a 12 month low of $20.51 and a 12 month high of $32.33.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings data on Friday, October 28th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.06. The company earned $208.90 million during the quarter, compared to analyst estimates of $215.05 million. Pebblebrook Hotel Trust had a return on equity of 4.67% and a net margin of 9.65%. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the company earned $0.83 earnings per share. On average, equities research analysts expect that Pebblebrook Hotel Trust will post $2.73 earnings per share for the current fiscal year.

In related news, Chairman Jon E. Bortz sold 43,424 shares of the business’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $28.52, for a total transaction of $1,238,452.48. Following the transaction, the chairman now owns 683,729 shares in the company, valued at approximately $19,499,951.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ron E. Jackson sold 4,000 shares of the business’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $23.98, for a total value of $95,920.00. Following the transaction, the director now owns 28,297 shares in the company, valued at approximately $678,562.06. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pitcairn Co. increased its position in shares of Pebblebrook Hotel Trust by 5.7% in the second quarter. Pitcairn Co. now owns 8,344 shares of the real estate investment trust’s stock worth $219,000 after buying an additional 449 shares in the last quarter. Adams Diversified Equity Fund Inc. acquired a new position in shares of Pebblebrook Hotel Trust during the second quarter worth about $420,000. 1st Global Advisors Inc. increased its position in shares of Pebblebrook Hotel Trust by 1.1% in the second quarter. 1st Global Advisors Inc. now owns 12,843 shares of the real estate investment trust’s stock worth $337,000 after buying an additional 135 shares in the last quarter. Phocas Financial Corp. increased its position in shares of Pebblebrook Hotel Trust by 33.0% in the first quarter. Phocas Financial Corp. now owns 449,468 shares of the real estate investment trust’s stock worth $13,066,000 after buying an additional 111,532 shares in the last quarter. Finally, Heitman Real Estate Securities LLC acquired a new position in shares of Pebblebrook Hotel Trust during the first quarter worth about $88,057,000.

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.

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