Pebblebrook Hotel Trust (PEB) to Issue Quarterly Dividend of $0.38 on October 15th
Pebblebrook Hotel Trust (NYSE:PEB) declared a quarterly dividend on Monday, September 17th, RTT News reports. Shareholders of record on Friday, September 28th will be given a dividend of 0.38 per share by the real estate investment trust on Monday, October 15th. This represents a $1.52 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Thursday, September 27th.
Pebblebrook Hotel Trust has raised its dividend payment by an average of 21.4% per year over the last three years and has raised its dividend every year for the last 5 years. Pebblebrook Hotel Trust has a payout ratio of 57.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pebblebrook Hotel Trust to earn $2.79 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 54.5%.
Pebblebrook Hotel Trust stock traded down $0.11 during midday trading on Wednesday, reaching $36.57. 14,442 shares of the stock traded hands, compared to its average volume of 1,924,436. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 2.76 and a beta of 1.25. Pebblebrook Hotel Trust has a fifty-two week low of $32.73 and a fifty-two week high of $41.65.
A number of brokerages have recently weighed in on PEB. ValuEngine lowered shares of Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating in a research note on Monday, June 18th. Zacks Investment Research raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Saturday, July 28th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $40.00 price target on shares of Pebblebrook Hotel Trust in a research note on Wednesday, August 15th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $39.42.
Pebblebrook Hotel Trust Company Profile
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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