Pebblebrook Hotel Trust (PEB) Sees Strong Trading Volume
Pebblebrook Hotel Trust (NYSE:PEB) saw unusually-high trading volume on Thursday . Approximately 1,067,118 shares were traded during trading, an increase of 38% from the previous session’s volume of 775,409 shares.The stock last traded at $29.95 and had previously closed at $30.04.
PEB has been the topic of several research reports. Bank of America Corp. restated a “neutral” rating and set a $27.00 price objective (down from $29.00) on shares of Pebblebrook Hotel Trust in a report on Friday, May 20th. Janney Montgomery Scott initiated coverage on Pebblebrook Hotel Trust in a report on Monday, May 23rd. They set a “neutral” rating and a $24.00 price objective on the stock. TheStreet downgraded Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating in a report on Tuesday, May 24th. Evercore ISI downgraded Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating and raised their price objective for the stock from $27.00 to $30.00 in a report on Wednesday, July 20th. Finally, Credit Suisse Group AG downgraded Pebblebrook Hotel Trust from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $30.00 to $29.00 in a report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. Pebblebrook Hotel Trust currently has a consensus rating of “Hold” and an average target price of $33.10.
The firm has a market cap of $2.15 billion and a PE ratio of 17.47. The firm has a 50-day moving average of $29.99 and a 200 day moving average of $27.67.
Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The business earned $212.27 million during the quarter, compared to analyst estimates of $212.93 million. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 earnings per share. Analysts predict that Pebblebrook Hotel Trust will post $2.71 earnings per share for the current year.
In other Pebblebrook Hotel Trust news, CFO Raymond D. Martz sold 15,848 shares of the company’s stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $25.26, for a total transaction of $400,320.48. Following the transaction, the chief financial officer now directly owns 177,526 shares in the company, valued at $4,484,306.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Pebblebrook Hotel Trust is a hotel investment company. The Company operates as a real estate investment trust (REIT). The Company is engaged in acquiring and investing in hotel properties located primarily in cities of the United States. It owns interests in around 35 hotels, including 29 wholly owned hotels with a total of 6,948 guest rooms and a 49% joint venture interest in six hotels with a total of 1,775 guest rooms.