Pebblebrook Hotel Trust (PEB) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Pebblebrook Hotel Trust (NYSE:PEB) from a hold rating to a sell rating in a research report report published on Friday.

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 research reports. Royal Bank Of Canada reaffirmed a buy rating and issued a $33.00 price target on shares of Pebblebrook Hotel Trust in a research report on Friday, June 23rd. Boenning Scattergood reissued a neutral rating on shares of Pebblebrook Hotel Trust in a research report on Tuesday, April 18th. ValuEngine raised shares of Pebblebrook Hotel Trust from a hold rating to a buy rating in a report on Friday, June 2nd. Raymond James Financial, Inc. reaffirmed an outperform rating and issued a $35.00 price target (up previously from $32.00) on shares of Pebblebrook Hotel Trust in a report on Wednesday, June 28th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on shares of Pebblebrook Hotel Trust in a report on Monday, April 10th. They issued a neutral rating and a $27.00 price target for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $32.08.

Pebblebrook Hotel Trust (PEB) traded down 0.03% during mid-day trading on Friday, hitting $32.24. The company had a trading volume of 507,295 shares. Pebblebrook Hotel Trust has a 1-year low of $23.56 and a 1-year high of $34.38. The stock has a 50 day moving average price of $32.70 and a 200-day moving average price of $30.35. The stock has a market capitalization of $2.24 billion, a PE ratio of 46.72 and a beta of 1.24.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its earnings results on Thursday, April 27th. The real estate investment trust reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.05. The business had revenue of $182.18 million for the quarter, compared to the consensus estimate of $184.69 million. Pebblebrook Hotel Trust had a net margin of 8.87% and a return on equity of 4.38%. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. On average, analysts forecast that Pebblebrook Hotel Trust will post $0.86 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a dividend of $0.38 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.52 annualized dividend and a yield of 4.71%. Pebblebrook Hotel Trust’s dividend payout ratio is presently 220.29%.

Several hedge funds have recently made changes to their positions in PEB. Somerset Trust Co raised its stake in shares of Pebblebrook Hotel Trust by 0.6% in the second quarter. Somerset Trust Co now owns 8,495 shares of the real estate investment trust’s stock valued at $274,000 after buying an additional 52 shares during the period. Prudential Financial Inc. raised its stake in shares of Pebblebrook Hotel Trust by 1.2% in the first quarter. Prudential Financial Inc. now owns 9,858 shares of the real estate investment trust’s stock valued at $288,000 after buying an additional 120 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Pebblebrook Hotel Trust by 1.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,531 shares of the real estate investment trust’s stock valued at $921,000 after buying an additional 298 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Pebblebrook Hotel Trust by 3.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,549 shares of the real estate investment trust’s stock valued at $337,000 after buying an additional 350 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Pebblebrook Hotel Trust by 8.6% in the second quarter. Nisa Investment Advisors LLC now owns 6,410 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 510 shares during the period.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust is an internally managed hotel investment company. The Company is a real estate investment trust (REIT) that acquires and invests in hotel properties located primarily in cities of the United States. As of December 31, 2016, the Company owned 29 hotels with a total of 7,219 guest rooms.

Analyst Recommendations for Pebblebrook Hotel Trust (NYSE:PEB)

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