Robert W. Baird Downgrades Pebblebrook Hotel Trust (PEB) to Neutral
Pebblebrook Hotel Trust (NYSE:PEB) was downgraded by stock analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued on Monday. They presently have a $34.00 price target on the real estate investment trust’s stock. Robert W. Baird’s target price would indicate a potential downside of 3.00% from the stock’s previous close.
PEB has been the topic of a number of other reports. ValuEngine raised Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $33.00 price target on shares of Pebblebrook Hotel Trust in a research note on Friday, June 23rd. Zacks Investment Research upgraded 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 note on Wednesday, September 27th. Goldman Sachs Group, Inc. (The) downgraded Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $27.00 to $26.00 in a report on Wednesday, August 2nd. Finally, Raymond James Financial, Inc. restated an “outperform” rating and set a $35.00 price objective (up previously from $32.00) on shares of Pebblebrook Hotel Trust in a report on Wednesday, June 28th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, six 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 $35.06.
Shares of Pebblebrook Hotel Trust (PEB) opened at 35.05 on Monday. The firm’s 50-day moving average is $33.77 and its 200-day moving average is $31.96. Pebblebrook Hotel Trust has a 1-year low of $23.56 and a 1-year high of $36.38. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 127.45 and a beta of 1.26.
Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Pebblebrook Hotel Trust had a net margin of 5.09% and a return on equity of 2.59%. The firm had revenue of $205.72 million for the quarter, compared to the consensus estimate of $199.30 million. During the same quarter in the previous year, the firm earned $0.81 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. Analysts forecast that Pebblebrook Hotel Trust will post $1.07 earnings per share for the current fiscal year.
Pebblebrook Hotel Trust declared that its Board of Directors has initiated a share repurchase program 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 reacquire up to 4.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
A number of institutional investors and hedge funds have recently modified their holdings of PEB. First Mercantile Trust Co. increased its position in shares of Pebblebrook Hotel Trust by 1.7% in the second 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. raised its stake in shares of 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 worth $126,000 after buying an additional 600 shares during the period. SG Americas Securities LLC raised its stake in shares of 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 worth $142,000 after buying an additional 249 shares during the period. Ameritas Investment Partners Inc. purchased a new position in shares of Pebblebrook Hotel Trust during the 1st quarter valued at approximately $180,000. Finally, GAM Holding AG lifted its position in shares of 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.
About Pebblebrook Hotel Trust
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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