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 on Tuesday. The company traded as high as $22.14 and last traded at $22.00, with a volume of 47,210 shares traded. The stock had previously closed at $22.00.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PEB. Raymond James Financial boosted their target price 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. Cantor Fitzgerald boosted their price target on Pebblebrook Hotel Trust from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. LADENBURG THALM/SH SH increased their price target on Pebblebrook Hotel Trust from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Stifel Nicolaus set a $22.00 price objective on Pebblebrook Hotel Trust in a research note on Monday, October 19th. Finally, Citigroup lifted their price objective on Pebblebrook Hotel Trust from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.27.

Pebblebrook Hotel Trust Price Performance

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 firm has a market cap of $2.49 billion, a price-to-earnings ratio of -25.10, a price-to-earnings-growth ratio of 1.01 and a beta of 1.43. The company’s 50-day moving average is $19.05 and its 200-day moving average is $16.12.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported ($0.56) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.59). Pebblebrook Hotel Trust had a negative net margin of 3.11% and a negative return on equity of 1.83%. The firm had revenue of $402.75 million for the quarter, compared to analyst estimates of $393.55 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts predict that Pebblebrook Hotel Trust will post 1.74 earnings per share for the current year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Pebblebrook Hotel Trust’s payout ratio is -4.55%.

Institutional Trading of Pebblebrook Hotel Trust

Several large investors have recently bought and sold shares of PEB. Amundi raised its stake in Pebblebrook Hotel Trust by 484.2% during the second quarter. Amundi now owns 495,647 shares of the real estate investment trust’s stock worth $9,621,000 after acquiring an additional 410,804 shares in the last quarter. Corient Private Wealth LP bought a new stake in shares of Pebblebrook Hotel Trust during the 2nd quarter valued at approximately $1,511,000. WINTON GROUP Ltd acquired a new position in Pebblebrook Hotel Trust during the 2nd quarter worth approximately $2,869,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Pebblebrook Hotel Trust during the 2nd quarter worth approximately $1,906,000. Finally, Legal & General Group Plc acquired a new position in Pebblebrook Hotel Trust during the 2nd quarter worth approximately $36,905,000.

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.