Bank of America Reiterates Buy Rating for Pebblebrook Hotel Trust (PEB)

Pebblebrook Hotel Trust (NYSE:PEB)‘s stock had its “buy” rating reissued by equities research analysts at Bank of America in a research report issued to clients and investors on Monday, The Fly reports. They presently have a $36.00 price objective on the real estate investment trust’s stock. Bank of America’s target price suggests a potential upside of 6.67% from the company’s current price.

Several other brokerages have also issued reports on PEB. ValuEngine upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Saturday, July 28th. Royal Bank of Canada reiterated a “buy” rating and issued a $40.00 target price on shares of Pebblebrook Hotel Trust in a research report on Wednesday, August 15th. Finally, Robert W. Baird set a $38.00 target price on shares of Pebblebrook Hotel Trust and gave the stock a “hold” rating in a research report on Wednesday, October 10th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Pebblebrook Hotel Trust presently has a consensus rating of “Hold” and an average target price of $38.42.

Shares of NYSE:PEB opened at $33.75 on Monday. Pebblebrook Hotel Trust has a 52-week low of $31.05 and a 52-week high of $41.65. The firm has a market capitalization of $2.26 billion, a P/E ratio of 13.13, a P/E/G ratio of 2.49 and a beta of 1.22. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.55.

A number of institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Pebblebrook Hotel Trust by 2.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 68,758 shares of the real estate investment trust’s stock worth $2,668,000 after purchasing an additional 1,405 shares during the last quarter. Sigma Planning Corp lifted its stake in Pebblebrook Hotel Trust by 10.5% in the second quarter. Sigma Planning Corp now owns 17,618 shares of the real estate investment trust’s stock worth $684,000 after purchasing an additional 1,672 shares during the last quarter. United Services Automobile Association lifted its stake in Pebblebrook Hotel Trust by 14.0% in the second quarter. United Services Automobile Association now owns 15,381 shares of the real estate investment trust’s stock worth $597,000 after purchasing an additional 1,883 shares during the last quarter. Motley Fool Wealth Management LLC lifted its stake in Pebblebrook Hotel Trust by 2.6% in the second quarter. Motley Fool Wealth Management LLC now owns 74,492 shares of the real estate investment trust’s stock worth $2,890,000 after purchasing an additional 1,910 shares during the last quarter. Finally, Congress Asset Management Co. MA lifted its stake in Pebblebrook Hotel Trust by 8.0% in the third quarter. Congress Asset Management Co. MA now owns 26,718 shares of the real estate investment trust’s stock worth $972,000 after purchasing an additional 1,990 shares during the last quarter.

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 28 hotels, with a total of 6,973 guest rooms. The Company owns hotels located in 9 states and the District of Columbia, including: Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Washington, DC; Coral Gables, Florida; Naples, Florida; Buckhead, Georgia; Boston, Massachusetts; Minneapolis, Minnesota; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.

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