Pebblebrook Hotel Trust (PEB) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust (NYSE:PEB) from a sell rating to a hold rating in a report released on Saturday morning.

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. “

Several other equities research analysts have also issued reports on PEB. Bank of America reiterated a buy rating and set a $36.00 price target on shares of Pebblebrook Hotel Trust in a report on Monday, October 29th. Robert W. Baird set a $38.00 price target on Pebblebrook Hotel Trust and gave the company a hold rating in a report on Wednesday, October 10th. ValuEngine lowered Pebblebrook Hotel Trust from a buy rating to a hold rating in a report on Thursday, August 2nd. Finally, Royal Bank of Canada restated a buy rating and issued a $40.00 target price on shares of Pebblebrook Hotel Trust in a report on Wednesday, August 15th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $38.42.

Shares of Pebblebrook Hotel Trust stock traded down $0.73 during trading on Friday, hitting $33.29. 1,821,062 shares of the stock traded hands, compared to its average volume of 1,561,202. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 2.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.82 and a quick ratio of 0.82. Pebblebrook Hotel Trust has a twelve month low of $31.05 and a twelve month high of $41.65.

The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a $0.38 dividend. The ex-dividend date was Thursday, September 27th. This represents a $1.52 annualized dividend and a yield of 4.57%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently 59.14%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Group AG increased its position in Pebblebrook Hotel Trust by 91.4% in the 1st quarter. UBS Group AG now owns 12,754 shares of the real estate investment trust’s stock worth $438,000 after buying an additional 6,091 shares during the period. Jane Street Group LLC bought a new position in Pebblebrook Hotel Trust in the 1st quarter worth approximately $254,000. Millennium Management LLC increased its position in Pebblebrook Hotel Trust by 27.3% in the 1st quarter. Millennium Management LLC now owns 28,384 shares of the real estate investment trust’s stock worth $975,000 after buying an additional 6,090 shares during the period. Legal & General Group Plc increased its position in Pebblebrook Hotel Trust by 16.0% in the 1st quarter. Legal & General Group Plc now owns 236,451 shares of the real estate investment trust’s stock worth $8,122,000 after buying an additional 32,618 shares during the period. Finally, Xact Kapitalforvaltning AB increased its position in Pebblebrook Hotel Trust by 62.0% in the 1st quarter. Xact Kapitalforvaltning AB now owns 10,188 shares of the real estate investment trust’s stock worth $350,000 after buying an additional 3,900 shares during the period.

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 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.

See Also: Dividend

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Analyst Recommendations for Pebblebrook Hotel Trust (NYSE:PEB)

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