Brokerages predict that Pebblebrook Hotel Trust (NYSE:PEB) will announce $81.06 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Pebblebrook Hotel Trust's earnings, with the lowest sales estimate coming in at $75.04 million and the highest estimate coming in at $83.50 million. Pebblebrook Hotel Trust posted sales of $379.41 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 78.6%. The company is scheduled to report its next quarterly earnings results on Thursday, February 18th.
On average, analysts expect that Pebblebrook Hotel Trust will report full-year sales of $449.74 million for the current fiscal year, with estimates ranging from $443.72 million to $452.20 million. For the next financial year, analysts forecast that the company will post sales of $684.20 million, with estimates ranging from $643.80 million to $724.69 million. Zacks' sales averages are a mean average based on a survey of analysts that cover Pebblebrook Hotel Trust.
Pebblebrook Hotel Trust (NYSE:PEB) last issued its earnings results on Thursday, October 29th. The real estate investment trust reported ($1.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.61). Pebblebrook Hotel Trust had a negative net margin of 3.57% and a negative return on equity of 0.84%. The company had revenue of $76.98 million during the quarter, compared to analyst estimates of $76.19 million. During the same quarter in the prior year, the business earned $0.77 EPS. The business's quarterly revenue was down 81.8% on a year-over-year basis.
A number of analysts have weighed in on PEB shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of Pebblebrook Hotel Trust from a "sell" rating to a "neutral" rating and raised their target price for the company from $11.50 to $20.00 in a research report on Tuesday, December 15th. Zacks Investment Research raised shares of Pebblebrook Hotel Trust from a "sell" rating to a "hold" rating in a research note on Tuesday, January 5th. Compass Point began coverage on shares of Pebblebrook Hotel Trust in a research note on Monday, October 5th. They set a "neutral" rating and a $14.50 price target for the company. Wells Fargo & Company raised shares of Pebblebrook Hotel Trust from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $17.50 to $22.00 in a research note on Thursday, December 10th. Finally, Citigroup raised their price target on shares of Pebblebrook Hotel Trust from $8.50 to $11.50 and gave the company a "sell" rating in a research note on Monday, September 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. The company presently has a consensus rating of "Hold" and an average price target of $15.64.
Shares of Pebblebrook Hotel Trust stock opened at $20.93 on Thursday. Pebblebrook Hotel Trust has a fifty-two week low of $5.39 and a fifty-two week high of $26.03. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $2.74 billion, a P/E ratio of -38.05 and a beta of 1.65. The company's 50 day moving average price is $18.96 and its two-hundred day moving average price is $14.39.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.19%. The ex-dividend date is Wednesday, December 30th. Pebblebrook Hotel Trust's dividend payout ratio is currently 1.52%.
In other news, CEO Jon E. Bortz acquired 22,487 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Tuesday, November 3rd. The stock was purchased at an average cost of $20.98 per share, with a total value of $471,777.26. Following the purchase, the chief executive officer now owns 11,600 shares in the company, valued at $243,368. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. ExodusPoint Capital Management LP acquired a new stake in shares of Pebblebrook Hotel Trust in the 3rd quarter worth $1,258,000. Squarepoint Ops LLC acquired a new stake in shares of Pebblebrook Hotel Trust during the 3rd quarter worth about $192,000. Public Employees Retirement System of Ohio increased its position in shares of Pebblebrook Hotel Trust by 1.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 138,377 shares of the real estate investment trust's stock worth $1,734,000 after purchasing an additional 1,592 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Pebblebrook Hotel Trust by 83.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,279,205 shares of the real estate investment trust's stock worth $17,473,000 after purchasing an additional 581,568 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Pebblebrook Hotel Trust by 0.9% during the 2nd quarter. California State Teachers Retirement System now owns 198,152 shares of the real estate investment trust's stock worth $2,707,000 after purchasing an additional 1,673 shares during the last quarter.
Pebblebrook Hotel Trust Company Profile
Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 53 hotels, totaling approximately 13,200 guestrooms across 14 urban and resort markets, with a focus on the west coast gateway cities.
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