Pebblebrook Hotel Trust (NYSE:PEB) Price Target Raised to $10.00

Pebblebrook Hotel Trust (NYSE:PEB) had its price objective increased by Wells Fargo & Company from $9.00 to $10.00 in a report published on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

Other analysts have also recently issued research reports about the stock. Wedbush set a $9.00 price target on shares of Pebblebrook Hotel Trust and gave the stock an “underperform” rating in a research note on Tuesday, May 6th. Wall Street Zen cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Compass Point downgraded Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $17.00 to $15.00 in a research report on Monday, March 10th. Truist Financial set a $9.00 price target on Pebblebrook Hotel Trust and gave the company a “hold” rating in a report on Monday, June 2nd. Finally, Evercore ISI reduced their price objective on Pebblebrook Hotel Trust from $15.00 to $11.00 and set an “in-line” rating on the stock in a research note on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Pebblebrook Hotel Trust presently has an average rating of “Hold” and an average target price of $11.91.

Pebblebrook Hotel Trust Price Performance

Shares of Pebblebrook Hotel Trust stock opened at $10.66 on Tuesday. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -22.21 and a beta of 1.75. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.82. The stock’s 50-day simple moving average is $9.52 and its 200-day simple moving average is $10.96. Pebblebrook Hotel Trust has a 52 week low of $7.41 and a 52 week high of $15.12.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. Pebblebrook Hotel Trust had a negative return on equity of 0.32% and a negative net margin of 0.61%. The company had revenue of $320.27 million for the quarter, compared to analysts’ expectations of $311.74 million. During the same period in the previous year, the firm earned $0.21 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. As a group, analysts expect that Pebblebrook Hotel Trust will post 1.5 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Monday, June 30th. Pebblebrook Hotel Trust’s payout ratio is -8.33%.

Institutional Investors Weigh In On Pebblebrook Hotel Trust

Large investors have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd bought a new position in Pebblebrook Hotel Trust during the fourth quarter valued at $358,000. Fisher Asset Management LLC boosted its stake in shares of Pebblebrook Hotel Trust by 5.9% during the 4th quarter. Fisher Asset Management LLC now owns 572,994 shares of the real estate investment trust’s stock worth $7,764,000 after purchasing an additional 31,677 shares during the period. Metis Global Partners LLC grew its holdings in Pebblebrook Hotel Trust by 11.4% during the 4th quarter. Metis Global Partners LLC now owns 13,823 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 1,412 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Pebblebrook Hotel Trust by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,504,751 shares of the real estate investment trust’s stock worth $33,939,000 after purchasing an additional 86,592 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC bought a new stake in Pebblebrook Hotel Trust in the fourth quarter worth about $13,788,000.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels and resorts in the United States. The Company owns 47 hotels and resorts, totaling approximately 12,200 guest rooms across 13 urban and resort markets.