Shares of Pebblebrook Hotel Trust (NYSE:PEB) have earned a consensus rating of “Hold” from the fourteen brokerages that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $35.31.
A number of research analysts have recently commented on PEB shares. Stifel Nicolaus reiterated a “hold” rating and issued a $34.50 price target (up from $31.50) on shares of Pebblebrook Hotel Trust in a research note on Tuesday, October 24th. Zacks Investment Research upgraded Pebblebrook Hotel Trust from a “hold” rating to a “strong-buy” rating and set a $41.00 price target for the company in a research note on Wednesday, September 27th. ValuEngine upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Barclays PLC raised their target price on Pebblebrook Hotel Trust from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 25th. Finally, Goldman Sachs Group, Inc. (The) lowered Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $27.00 to $26.00 in a research report on Wednesday, August 2nd.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Pebblebrook Hotel Trust by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 11,287,224 shares of the real estate investment trust’s stock valued at $363,900,000 after acquiring an additional 38,873 shares during the period. Principal Financial Group Inc. raised its holdings in Pebblebrook Hotel Trust by 156.1% during the 2nd quarter. Principal Financial Group Inc. now owns 2,516,668 shares of the real estate investment trust’s stock valued at $81,137,000 after acquiring an additional 1,533,874 shares during the period. State Street Corp grew its position in shares of Pebblebrook Hotel Trust by 0.8% during the 2nd quarter. State Street Corp now owns 2,386,186 shares of the real estate investment trust’s stock valued at $76,928,000 after purchasing an additional 19,242 shares in the last quarter. Northern Trust Corp grew its position in shares of Pebblebrook Hotel Trust by 1.1% during the 2nd quarter. Northern Trust Corp now owns 1,576,019 shares of the real estate investment trust’s stock valued at $50,811,000 after purchasing an additional 17,759 shares in the last quarter. Finally, Macquarie Group Ltd. grew its position in shares of Pebblebrook Hotel Trust by 6.8% during the 3rd quarter. Macquarie Group Ltd. now owns 1,173,896 shares of the real estate investment trust’s stock valued at $42,424,000 after purchasing an additional 74,849 shares in the last quarter.
Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.49. Pebblebrook Hotel Trust had a return on equity of 6.63% and a net margin of 12.98%. The company had revenue of $201.80 million during the quarter, compared to analysts’ expectations of $198.11 million. During the same period in the prior year, the company earned ($0.61) EPS. Pebblebrook Hotel Trust’s revenue was down 3.4% compared to the same quarter last year. analysts forecast that Pebblebrook Hotel Trust will post 2.51 EPS for the current fiscal year.
Pebblebrook Hotel Trust announced that its board has approved a share repurchase program on Thursday, July 27th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy up to 4.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
About Pebblebrook Hotel Trust
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.
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