Pebblebrook Hotel Trust (PEB) Raised to Buy at Janney Montgomery Scott
Janney Montgomery Scott upgraded shares of Pebblebrook Hotel Trust (NYSE:PEB) from a neutral rating to a buy rating in a report published on Wednesday morning, MarketBeat Ratings reports. Janney Montgomery Scott currently has $40.00 target price on the real estate investment trust’s stock, up from their prior target price of $31.00.
PEB has been the subject of several other reports. ValuEngine upgraded Pebblebrook Hotel Trust from a hold rating to a buy rating in a report on Friday, September 1st. Royal Bank Of Canada reissued a buy rating and issued a $33.00 price target on shares of Pebblebrook Hotel Trust in a research report on Friday, June 23rd. Zacks Investment Research raised 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 report on Wednesday. Goldman Sachs Group, Inc. (The) lowered Pebblebrook Hotel Trust from a neutral rating to a sell rating and reduced their price target for the stock from $27.00 to $26.00 in a research report on Wednesday, August 2nd. Finally, Raymond James Financial, Inc. reissued an outperform rating and issued a $35.00 price target (up from $32.00) on shares of Pebblebrook Hotel Trust in a research report on Wednesday, June 28th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Pebblebrook Hotel Trust currently has an average rating of Hold and an average target price of $35.19.
Shares of Pebblebrook Hotel Trust (PEB) traded up 0.17% during trading on Wednesday, hitting $36.14. The stock had a trading volume of 785,229 shares. Pebblebrook Hotel Trust has a 12 month low of $23.56 and a 12 month high of $36.33. The stock has a 50-day moving average price of $33.00 and a 200 day moving average price of $31.42. The company has a market cap of $2.49 billion, a P/E ratio of 131.42 and a beta of 1.24.
Pebblebrook Hotel Trust (NYSE:PEB) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. Pebblebrook Hotel Trust had a return on equity of 2.59% and a net margin of 5.09%. The business had revenue of $205.72 million during the quarter, compared to analysts’ expectations of $199.30 million. During the same period in the prior year, the business earned $0.81 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities analysts expect that Pebblebrook Hotel Trust will post $1.07 EPS for the current fiscal year.
Pebblebrook Hotel Trust declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 4.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Thursday, September 28th. Pebblebrook Hotel Trust’s payout ratio is 506.68%.
Large investors have recently made changes to their positions in the stock. First Mercantile Trust Co. increased its position in Pebblebrook Hotel Trust by 1.7% during the 2nd quarter. First Mercantile Trust Co. now owns 3,680 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 60 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Pebblebrook Hotel Trust by 16.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,336 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 600 shares in the last quarter. SG Americas Securities LLC increased its position in Pebblebrook Hotel Trust by 6.0% during the 2nd quarter. SG Americas Securities LLC now owns 4,401 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 249 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Pebblebrook Hotel Trust during the 1st quarter valued at about $180,000. Finally, GAM Holding AG increased its position in Pebblebrook Hotel Trust by 2.3% during the 2nd quarter. GAM Holding AG now owns 5,892 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 134 shares in the last quarter.
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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