$178.04 Million in Sales Expected for Pebblebrook Hotel Trust (PEB) This Quarter
Wall Street analysts predict that Pebblebrook Hotel Trust (NYSE:PEB) will announce $178.04 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Pebblebrook Hotel Trust’s earnings. The highest sales estimate is $181.66 million and the lowest is $170.45 million. Pebblebrook Hotel Trust reported sales of $198.94 million in the same quarter last year, which would suggest a negative year over year growth rate of 10.5%. The firm is expected to announce its next earnings report on Thursday, February 22nd.
On average, analysts expect that Pebblebrook Hotel Trust will report full-year sales of $178.04 million for the current fiscal year, with estimates ranging from $760.14 million to $771.00 million. For the next year, analysts forecast that the business will post sales of $774.48 million per share, with estimates ranging from $764.50 million to $786.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Pebblebrook Hotel Trust.
Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.49. Pebblebrook Hotel Trust had a net margin of 12.98% and a return on equity of 6.63%. The business had revenue of $201.80 million for the quarter, compared to analyst estimates of $198.11 million. During the same period last year, the business posted ($0.61) earnings per share. The firm’s quarterly revenue was down 3.4% on a year-over-year basis.
A number of equities research analysts recently commented on PEB shares. Stifel Nicolaus restated a “hold” rating and set a $34.50 price objective (up from $31.50) on shares of Pebblebrook Hotel Trust in a report on Tuesday, October 24th. Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “strong-buy” rating and set a $41.00 price target on the stock in a research note on Wednesday, September 27th. ValuEngine upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Barclays PLC lifted their price target on shares of Pebblebrook Hotel Trust from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, October 25th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and lowered their price target for the company from $27.00 to $26.00 in a research note on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.94.
Shares of Pebblebrook Hotel Trust (NYSE:PEB) traded up $0.58 during trading hours on Monday, hitting $36.19. 410,019 shares of the company were exchanged, compared to its average volume of 727,539. Pebblebrook Hotel Trust has a fifty-two week low of $23.56 and a fifty-two week high of $37.63. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $2,495.30, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.52 and a beta of 1.21.
Pebblebrook Hotel Trust declared that its Board of Directors has approved a share repurchase plan on Thursday, July 27th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the real estate investment trust to buy up to 4.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Thursday, September 28th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently 117.83%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Pebblebrook Hotel Trust by 0.3% in 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. BlackRock Inc. grew its position in shares of Pebblebrook Hotel Trust by 4,493.2% in the 1st quarter. BlackRock Inc. now owns 7,499,473 shares of the real estate investment trust’s stock valued at $219,060,000 after acquiring an additional 7,336,199 shares during the period. Principal Financial Group Inc. grew its position in shares of Pebblebrook Hotel Trust by 156.1% in 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% in 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 acquiring an additional 19,242 shares during the period. Finally, Northern Trust Corp grew its position in shares of Pebblebrook Hotel Trust by 1.1% in 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 acquiring an additional 17,759 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.
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