Pebblebrook Hotel Trust (NYSE:PEB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The brokerage currently has a $32.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.58% from the stock’s current price.

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. “

A number of other research firms have also weighed in on PEB. TheStreet lowered shares of Pebblebrook Hotel Trust from a “b-” rating to a “c” rating in a research note on Wednesday, February 27th. Barclays reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Pebblebrook Hotel Trust in a research note on Tuesday, February 19th. Citigroup started coverage on shares of Pebblebrook Hotel Trust in a research note on Thursday, March 28th. They issued a “neutral” rating and a $32.00 price objective for the company. Finally, SunTrust Banks started coverage on shares of Pebblebrook Hotel Trust in a research note on Monday, May 6th. They issued a “hold” rating and a $43.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $36.10.

NYSE:PEB opened at $28.68 on Wednesday. Pebblebrook Hotel Trust has a 1-year low of $26.59 and a 1-year high of $40.21. The stock has a market capitalization of $3.61 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 2.08 and a beta of 1.40. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.68.

Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings data on Thursday, April 25th. The real estate investment trust reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. Pebblebrook Hotel Trust had a negative net margin of 0.53% and a negative return on equity of 0.20%. The company had revenue of $267.20 million during the quarter, compared to analyst estimates of $358.66 million. During the same period in the prior year, the firm earned $0.67 earnings per share. The firm’s revenue for the quarter was up 47.5% compared to the same quarter last year. Analysts predict that Pebblebrook Hotel Trust will post 2.66 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the business. GYL Financial Synergies LLC purchased a new stake in shares of Pebblebrook Hotel Trust during the first quarter valued at about $524,000. Nordea Investment Management AB lifted its position in shares of Pebblebrook Hotel Trust by 35.8% during the first quarter. Nordea Investment Management AB now owns 505,566 shares of the real estate investment trust’s stock valued at $15,703,000 after buying an additional 133,292 shares during the last quarter. Zimmer Partners LP purchased a new stake in shares of Pebblebrook Hotel Trust during the first quarter valued at about $52,274,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Pebblebrook Hotel Trust by 128.9% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,376 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 1,338 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its position in shares of Pebblebrook Hotel Trust by 8.2% during the first quarter. Macquarie Group Ltd. now owns 1,766,302 shares of the real estate investment trust’s stock valued at $54,862,000 after buying an additional 134,318 shares during the last quarter.

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 61 hotels, totaling approximately 14,600 guest rooms, located in 10 states and the District of Columbia, including: Del Mar, California; Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Santa Cruz, California; Washington, DC; Coral Gables, Florida; Key West, Florida; Naples, Florida; Buckhead, Georgia; Chicago, Illinois; Boston, Massachusetts; New York, New York; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.

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