Zacks Investment Research Lowers Pebblebrook Hotel Trust (NYSE:PEB) to Sell


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Pebblebrook Hotel Trust (NYSE:PEB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Pebblebrook Hotel Trust is an internally managed hotel investment company organized to acquire and invest in hotel properties located primarily in large United States cities with an emphasis on the major coastal markets. The Company may invest in resort properties located near its primary urban target markets, as well as in select destination markets. Pebblebrook Hotel Trust focuses on hotel properties in the lodging industry. In addition, the Company may seek to acquire service properties in its primary urban target markets. “

PEB has been the subject of several other research reports. ValuEngine upgraded shares of Pebblebrook Hotel Trust from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 1st. Bank of America upgraded shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and increased their target price for the company from $12.50 to $15.00 in a research note on Tuesday, September 29th. Wells Fargo & Company upgraded shares of Pebblebrook Hotel Trust from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $17.50 to $22.00 in a research note on Thursday, December 10th. Compass Point began coverage on shares of Pebblebrook Hotel Trust in a research note on Monday, October 5th. They issued a “neutral” rating and a $14.50 target price for the company. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of Pebblebrook Hotel Trust from a “sell” rating to a “neutral” rating and increased their target price for the company from $11.50 to $20.00 in a research note on Tuesday, December 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Pebblebrook Hotel Trust has an average rating of “Hold” and a consensus price target of $15.64.

Shares of NYSE:PEB opened at $20.93 on Thursday. The company has a market cap of $2.74 billion, a P/E ratio of -38.05 and a beta of 1.65. The stock’s 50-day moving average is $18.96 and its 200-day moving average is $14.39. Pebblebrook Hotel Trust has a 52-week low of $5.39 and a 52-week high of $26.03. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.44 and a current ratio of 1.44.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported ($1.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.61). Pebblebrook Hotel Trust had a negative net margin of 3.57% and a negative return on equity of 0.84%. The business had revenue of $76.98 million during the quarter, compared to analyst estimates of $76.19 million. During the same period in the prior year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was down 81.8% compared to the same quarter last year. As a group, equities analysts predict that Pebblebrook Hotel Trust will post -1.32 EPS for the current year.

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz purchased 22,487 shares of the business’s stock in a transaction on Tuesday, November 3rd. The stock was purchased at an average price of $20.98 per share, for a total transaction of $471,777.26. Following the completion of the purchase, the chief executive officer now directly owns 11,600 shares in the company, valued at $243,368. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in shares of Pebblebrook Hotel Trust by 23.4% during the third quarter. Van ECK Associates Corp now owns 3,925 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 745 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Pebblebrook Hotel Trust during the second quarter worth approximately $59,000. Boothbay Fund Management LLC acquired a new stake in shares of Pebblebrook Hotel Trust during the third quarter worth approximately $135,000. AQR Capital Management LLC acquired a new stake in shares of Pebblebrook Hotel Trust during the second quarter worth approximately $145,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Pebblebrook Hotel Trust by 101.0% during the second quarter. PNC Financial Services Group Inc. now owns 10,559 shares of the real estate investment trust’s stock worth $146,000 after buying an additional 5,305 shares in the last quarter.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 53 hotels, totaling approximately 13,200 guestrooms across 14 urban and resort markets, with a focus on the west coast gateway cities.

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