Analysts expect Pebblebrook Hotel Trust (NYSE:PEB) to announce $203.19 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Pebblebrook Hotel Trust’s earnings, with the highest sales estimate coming in at $209.30 million and the lowest estimate coming in at $199.54 million. Pebblebrook Hotel Trust posted sales of $208.96 million during the same quarter last year, which suggests a negative year over year growth rate of 2.8%. The business is expected to issue its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Pebblebrook Hotel Trust will report full-year sales of $203.19 million for the current financial year, with estimates ranging from $760.54 million to $777.72 million. For the next year, analysts anticipate that the business will report sales of $772.33 million per share, with estimates ranging from $763.53 million to $781.54 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Pebblebrook Hotel Trust.
Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.75 EPS for the quarter, beating the consensus estimate 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 company had revenue of $205.72 million for the quarter, compared to analyst estimates of $199.30 million. During the same period in the prior year, the company earned $0.81 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis.
Several brokerages recently commented on PEB. BidaskClub lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Monday. Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus lifted their price objective on shares of Pebblebrook Hotel Trust from $30.00 to $31.50 and gave the company a “hold” rating in a research note on Wednesday, June 21st. Raymond James Financial, Inc. restated an “outperform” rating and issued a $35.00 price objective (up from $32.00) on shares of Pebblebrook Hotel Trust in a research note on Wednesday, June 28th. Finally, Barclays PLC restated a “buy” rating and issued a $35.00 price objective on shares of Pebblebrook Hotel Trust in a research note on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $32.08.
Pebblebrook Hotel Trust (PEB) traded up 0.92% during midday trading on Friday, reaching $33.98. 767,097 shares of the company’s stock traded hands. The company has a market capitalization of $2.34 billion, a PE ratio of 117.17 and a beta of 1.23. The firm’s 50 day moving average price is $32.89 and its 200-day moving average price is $30.52. Pebblebrook Hotel Trust has a 1-year low of $23.56 and a 1-year high of $34.38.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a $0.38 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.52 dividend on an annualized basis and a yield of 4.47%. Pebblebrook Hotel Trust’s dividend payout ratio is presently 506.68%.
Pebblebrook Hotel Trust declared that its board has approved a share repurchase plan on Thursday, July 27th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 4.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of PEB. Envestnet Asset Management Inc. raised its position in Pebblebrook Hotel Trust by 16.1% in the first 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 in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Pebblebrook Hotel Trust during the first quarter worth about $180,000. Nisa Investment Advisors LLC raised its position in shares of Pebblebrook Hotel Trust by 8.6% in the second quarter. Nisa Investment Advisors LLC now owns 6,410 shares of the real estate investment trust’s stock worth $200,000 after buying an additional 510 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Pebblebrook Hotel Trust during the fourth quarter worth about $214,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Pebblebrook Hotel Trust during the first quarter worth about $232,000.
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Pebblebrook Hotel Trust Company Profile
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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