Pebblebrook Hotel Trust (NYSE:PEB) Expected to Post Quarterly Sales of $420.22 Million

Analysts expect Pebblebrook Hotel Trust (NYSE:PEB) to post sales of $420.22 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Pebblebrook Hotel Trust’s earnings. The lowest sales estimate is $406.03 million and the highest is $431.86 million. Pebblebrook Hotel Trust reported sales of $205.48 million during the same quarter last year, which would suggest a positive year over year growth rate of 104.5%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 7th.

On average, analysts expect that Pebblebrook Hotel Trust will report full year sales of $1.60 billion for the current year, with estimates ranging from $1.53 billion to $1.62 billion. For the next financial year, analysts forecast that the firm will report sales of $1.57 billion, with estimates ranging from $1.50 billion to $1.63 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Pebblebrook Hotel Trust.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its earnings results on Thursday, July 25th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.02. Pebblebrook Hotel Trust had a negative return on equity of 0.10% and a negative net margin of 0.25%. The business had revenue of $442.08 million for the quarter, compared to analysts’ expectations of $435.37 million. During the same period in the previous year, the firm posted $0.81 EPS. The company’s quarterly revenue was up 114.1% on a year-over-year basis.

A number of analysts have weighed in on the company. Bank of America cut Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $33.00 to $29.00 in a research report on Wednesday, July 17th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Pebblebrook Hotel Trust in a research report on Tuesday, July 23rd. Zacks Investment Research raised Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Capital One Financial began coverage on Pebblebrook Hotel Trust in a research report on Tuesday, June 25th. They issued an “overweight” rating and a $35.00 price target for the company. Finally, BTIG Research cut Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $35.33.

Shares of NYSE:PEB traded down $0.16 on Thursday, reaching $26.14. The company had a trading volume of 1,258,300 shares, compared to its average volume of 1,139,135. Pebblebrook Hotel Trust has a twelve month low of $25.64 and a twelve month high of $39.40. The stock has a 50-day moving average price of $27.49 and a 200 day moving average price of $30.14. The stock has a market capitalization of $3.49 billion, a P/E ratio of 10.67, a P/E/G ratio of 2.02 and a beta of 1.34. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.65.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Pebblebrook Hotel Trust by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 19,436,726 shares of the real estate investment trust’s stock valued at $547,726,000 after buying an additional 59,353 shares during the last quarter. Cohen & Steers Inc. boosted its position in Pebblebrook Hotel Trust by 6.0% in the 2nd quarter. Cohen & Steers Inc. now owns 13,251,868 shares of the real estate investment trust’s stock valued at $373,438,000 after buying an additional 751,196 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Pebblebrook Hotel Trust by 3.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,421,531 shares of the real estate investment trust’s stock valued at $180,959,000 after buying an additional 195,114 shares during the last quarter. Invesco Ltd. boosted its position in Pebblebrook Hotel Trust by 24.5% in the 2nd quarter. Invesco Ltd. now owns 5,276,176 shares of the real estate investment trust’s stock valued at $148,683,000 after buying an additional 1,039,928 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Pebblebrook Hotel Trust by 89.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,255,033 shares of the real estate investment trust’s stock valued at $132,161,000 after buying an additional 2,004,224 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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Earnings History and Estimates for Pebblebrook Hotel Trust (NYSE:PEB)

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