Pebblebrook Hotel Trust (NYSE:PEB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
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 also recently commented on PEB. ValuEngine downgraded shares of Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating in a report on Monday, June 18th. Royal Bank of Canada reiterated a “buy” rating and issued a $40.00 price objective on shares of Pebblebrook Hotel Trust in a report on Wednesday, August 15th. Finally, Robert W. Baird set a $38.00 price objective on shares of Pebblebrook Hotel Trust and gave the company a “hold” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.90.
Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. Pebblebrook Hotel Trust had a net margin of 15.71% and a return on equity of 7.99%. The firm had revenue of $206.50 million during the quarter, compared to the consensus estimate of $207.37 million. During the same quarter in the prior year, the firm earned $0.75 EPS. The company’s revenue for the quarter was up .4% on a year-over-year basis. On average, sell-side analysts expect that Pebblebrook Hotel Trust will post 2.64 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Investors Inc. PA boosted its position in shares of Pebblebrook Hotel Trust by 302.0% during the 1st quarter. Federated Investors Inc. PA now owns 4,100 shares of the real estate investment trust’s stock worth $141,000 after purchasing an additional 3,080 shares during the period. Assetmark Inc. boosted its position in shares of Pebblebrook Hotel Trust by 278.2% during the 2nd quarter. Assetmark Inc. now owns 4,168 shares of the real estate investment trust’s stock worth $162,000 after purchasing an additional 3,066 shares during the period. Integrated Investment Consultants LLC purchased a new position in shares of Pebblebrook Hotel Trust during the 2nd quarter worth approximately $203,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Pebblebrook Hotel Trust during the 2nd quarter worth approximately $213,000. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in shares of Pebblebrook Hotel Trust during the 2nd quarter worth approximately $219,000.
About Pebblebrook Hotel Trust
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 28 hotels, with a total of 6,973 guest rooms. The Company owns hotels located in 9 states and the District of Columbia, including: Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Washington, DC; Coral Gables, Florida; Naples, Florida; Buckhead, Georgia; Boston, Massachusetts; Minneapolis, Minnesota; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.
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