Pebblebrook Hotel Trust (NYSE:PEB) has been assigned a consensus recommendation of “Hold” from the fourteen analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $35.64.
Several equities analysts have weighed in on the company. BTIG Research dropped their price objective on Host Hotels and Resorts from $24.00 to $20.50 and set a “buy” rating on the stock in a research note on Thursday, June 27th. They noted that the move was a valuation call. Zacks Investment Research cut H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Wednesday. SunTrust Banks restated a “hold” rating on shares of Tripadvisor in a research note on Monday, May 6th. Bank of America restated an “underperform” rating and set a $44.00 price objective (down from $46.00) on shares of Stericycle in a research note on Wednesday. Finally, Citigroup cut OIL SEARCH LTD/ADR from a “neutral” rating to a “sell” rating in a research note on Thursday, March 28th.
Several institutional investors have recently made changes to their positions in PEB. Daiwa Securities Group Inc. increased its holdings in Pebblebrook Hotel Trust by 27.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 6,226,417 shares of the real estate investment trust’s stock worth $193,393,000 after acquiring an additional 1,330,005 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Pebblebrook Hotel Trust by 89.0% in the first quarter. JPMorgan Chase & Co. now owns 4,255,033 shares of the real estate investment trust’s stock valued at $132,161,000 after acquiring an additional 2,004,224 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Pebblebrook Hotel Trust by 109.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,405,757 shares of the real estate investment trust’s stock valued at $68,107,000 after acquiring an additional 1,257,345 shares during the last quarter. Lasalle Investment Management Securities LLC acquired a new position in Pebblebrook Hotel Trust in the fourth quarter valued at approximately $56,362,000. Finally, Bank of New York Mellon Corp lifted its holdings in Pebblebrook Hotel Trust by 64.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,788,098 shares of the real estate investment trust’s stock valued at $50,622,000 after acquiring an additional 699,721 shares during the last quarter.
Pebblebrook Hotel Trust (NYSE:PEB) last issued its earnings results on Thursday, April 25th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. Pebblebrook Hotel Trust had a negative return on equity of 0.20% and a negative net margin of 0.53%. The company had revenue of $267.20 million for the quarter, compared to analysts’ expectations of $358.66 million. During the same period last year, the business earned $0.67 EPS. Pebblebrook Hotel Trust’s quarterly revenue was up 47.5% compared to the same quarter last year. Sell-side analysts expect that Pebblebrook Hotel Trust will post 2.66 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend was Thursday, June 27th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently 62.04%.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is a publicly traded real estate investment trust (REIT) organized to opportunistically acquire and invest primarily in upper upscale, full-service hotels located in urban markets in major gateway cities. The Company owns 61 hotels, totaling approximately 14,600 guest rooms, located in 10 states and the District of Columbia, including: Del Mar, California; Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Santa Cruz, California; Washington, DC; Coral Gables, Florida; Key West, Florida; Naples, Florida; Buckhead, Georgia; Chicago, Illinois; Boston, Massachusetts; New York, New York; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.
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