Pebblebrook Hotel Trust (NYSE:PEB) announced a quarterly dividend on Monday, September 16th, Zacks reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.38 per share by the real estate investment trust on Tuesday, October 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date of this dividend is Friday, September 27th.
Pebblebrook Hotel Trust has increased its dividend by an average of 9.4% per year over the last three years. Pebblebrook Hotel Trust has a dividend payout ratio of 57.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Pebblebrook Hotel Trust to earn $2.61 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 58.2%.
Shares of PEB traded down $0.31 during midday trading on Tuesday, reaching $28.21. The stock had a trading volume of 3,215 shares, compared to its average volume of 827,279. Pebblebrook Hotel Trust has a 1-year low of $25.64 and a 1-year high of $37.09. The company’s fifty day simple moving average is $27.19 and its two-hundred day simple moving average is $29.37. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 2.17 and a beta of 1.33. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.28 and a quick ratio of 0.28.
A number of research analysts recently commented on PEB shares. Bank of America downgraded shares of Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and dropped their target price for the company from $33.00 to $29.00 in a research report on Wednesday, July 17th. Capital One Financial began coverage on shares of Pebblebrook Hotel Trust in a research report on Tuesday, June 25th. They set an “overweight” rating and a $35.00 price objective on the stock. Wells Fargo & Co reissued a “hold” rating on shares of Pebblebrook Hotel Trust in a research report on Tuesday, July 23rd. Zacks Investment Research raised shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, BTIG Research downgraded shares of Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Pebblebrook Hotel Trust has a consensus rating of “Hold” and an average price target of $34.91.
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 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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