Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust (NYSE:PEB) from a hold rating to a buy rating in a report published on Wednesday morning, Zacks.com reports. They currently have $26.00 target price on the real estate investment trust’s stock.
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. “
Other analysts have also recently issued research reports about the company. Robert W. Baird reiterated a hold rating and set a $26.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Friday, September 10th. Citigroup reduced their price objective on Pebblebrook Hotel Trust from $26.00 to $25.00 and set a neutral rating for the company in a research report on Wednesday, October 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of $24.57.
Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings results on Thursday, July 29th. The real estate investment trust reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.04. Pebblebrook Hotel Trust had a negative return on equity of 12.94% and a negative net margin of 106.05%. As a group, analysts anticipate that Pebblebrook Hotel Trust will post -0.46 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.18%. The ex-dividend date is Wednesday, September 29th. Pebblebrook Hotel Trust’s dividend payout ratio is presently -2.74%.
In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 29th. The stock was sold at an average price of $24.75, for a total transaction of $495,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC boosted its stake in shares of Pebblebrook Hotel Trust by 30.7% in the third quarter. Harbor Investment Advisory LLC now owns 1,891 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 444 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Pebblebrook Hotel Trust by 17.2% in the third quarter. State of Alaska Department of Revenue now owns 87,595 shares of the real estate investment trust’s stock worth $1,961,000 after acquiring an additional 12,847 shares during the period. Parametric Portfolio Associates LLC lifted its position in shares of Pebblebrook Hotel Trust by 9.5% in the second quarter. Parametric Portfolio Associates LLC now owns 502,721 shares of the real estate investment trust’s stock worth $11,839,000 after buying an additional 43,719 shares in the last quarter. Heitman Real Estate Securities LLC lifted its position in shares of Pebblebrook Hotel Trust by 20.0% in the second quarter. Heitman Real Estate Securities LLC now owns 3,185,944 shares of the real estate investment trust’s stock worth $75,029,000 after buying an additional 529,949 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Pebblebrook Hotel Trust by 29.6% in the second quarter. Morgan Stanley now owns 422,972 shares of the real estate investment trust’s stock worth $9,961,000 after buying an additional 96,690 shares in the last quarter.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is a real estate investment trust, which engages in the investments and acquisition in hotel properties. Its hotels are located in the markets like: Atlanta, Georgia; Boston, Massachusetts; Chicago, Illinois; Key West, Florida; Miami, Los Angeles, Naples, Nashville, Tennessee; New York, Philadelphia, Pennsylvania; Portland, Oregon; San Diego, California; San Francisco, Seattle, Stevenson, and Washington, DC The company was founded by Jon E.
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