Pebblebrook Hotel Trust (NYSE:PEB) Sets New 12-Month High – Still a Buy?

Pebblebrook Hotel Trust (NYSE:PEB) shares reached a new 52-week high during trading on Wednesday. The stock traded as high as $21.41 and last traded at $21.3430, with a volume of 331,596 shares. The stock had previously closed at $21.31.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PEB shares. Evercore set a $21.00 price objective on Pebblebrook Hotel Trust in a research note on Monday. Morgan Stanley increased their price target on shares of Pebblebrook Hotel Trust from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Thursday, October 22nd. Stifel Nicolaus set a $22.00 price objective on shares of Pebblebrook Hotel Trust in a research note on Monday, October 19th. Weiss Ratings upgraded shares of Pebblebrook Hotel Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Raymond James Financial boosted their price target on shares of Pebblebrook Hotel Trust from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, September 28th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.27.

Pebblebrook Hotel Trust Stock Up 0.1%

The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.83. The stock has a 50 day simple moving average of $18.79 and a 200 day simple moving average of $15.93. The firm has a market capitalization of $2.41 billion, a PE ratio of -30.94, a PEG ratio of 1.38 and a beta of 1.43.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.56. The company had revenue of $407.14 million during the quarter, compared to analyst estimates of $400.05 million. Pebblebrook Hotel Trust had a negative net margin of 3.11% and a negative return on equity of 1.83%. The firm’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 EPS. As a group, sell-side analysts forecast that Pebblebrook Hotel Trust will post 1.74 earnings per share for the current year.

Pebblebrook Hotel Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio is currently -5.80%.

Hedge Funds Weigh In On Pebblebrook Hotel Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in PEB. Asset Management One Co. Ltd. increased its position in Pebblebrook Hotel Trust by 3.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 155,288 shares of the real estate investment trust’s stock valued at $2,913,000 after purchasing an additional 5,223 shares during the period. Nisa Investment Advisors LLC grew its stake in Pebblebrook Hotel Trust by 23.2% in the third quarter. Nisa Investment Advisors LLC now owns 6,282 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 1,185 shares during the period. GAMMA Investing LLC grew its holdings in Pebblebrook Hotel Trust by 25.2% in the third quarter. GAMMA Investing LLC now owns 14,874 shares of the real estate investment trust’s stock worth $279,000 after purchasing an additional 2,998 shares during the period. Cim Investment Management Inc. grew its stake in shares of Pebblebrook Hotel Trust by 7.3% in the 2nd quarter. Cim Investment Management Inc. now owns 13,180 shares of the real estate investment trust’s stock worth $256,000 after buying an additional 893 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in Pebblebrook Hotel Trust by 9.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 11,001 shares of the real estate investment trust’s stock valued at $214,000 after buying an additional 910 shares in the last quarter.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust (NYSE:PEB) is a publicly traded real estate investment trust that owns and invests in upscale, full-service hotels and resorts in the United States. The company focuses on acquiring, developing, and repositioning lodging properties in major urban and resort destinations.

Its portfolio includes hotels operating under a variety of national, regional, and independent brands. Pebblebrook generally owns the underlying real estate while hotels are operated through management agreements, providing lodging accommodations, food and beverage services, meeting and event facilities, and other guest amenities.

Founded in 2009, Pebblebrook Hotel Trust has emphasized properties in markets with strong tourism, business travel, and cultural or recreational appeal.