Pebblebrook Hotel Trust (NYSE:PEB) Given New $12.00 Price Target at Evercore ISI

Key Points

• Evercore ISI has increased Pebblebrook Hotel Trust's price target from $11.00 to $12.00, indicating a potential upside of 13.48% from the previous close.
• Currently, four analysts rate Pebblebrook's stock as a sell, while one has given it a buy rating, resulting in an average rating of "Hold".
• Pebblebrook's recent earnings report showed a 2.0% increase in revenue year-over-year, with an EPS of $0.16, exceeding analysts' expectations.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) had its price objective upped by analysts at Evercore ISI from $11.00 to $12.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's price objective would suggest a potential upside of 13.48% from the company's previous close.

PEB has been the topic of a number of other reports. Wedbush set a $9.00 target price on shares of Pebblebrook Hotel Trust and gave the stock an "underperform" rating in a research report on Tuesday, May 6th. Stifel Nicolaus lowered their target price on shares of Pebblebrook Hotel Trust from $16.50 to $13.25 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company reiterated a "negative" rating on shares of Pebblebrook Hotel Trust in a research note on Tuesday, July 1st. Truist Financial set a $9.00 target price on shares of Pebblebrook Hotel Trust and gave the company a "hold" rating in a research note on Monday, June 2nd. Finally, Morgan Stanley reissued an "underweight" rating and set a $10.00 price target on shares of Pebblebrook Hotel Trust in a report on Tuesday, July 15th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $11.81.

Pebblebrook Hotel Trust Stock Performance

Shares of PEB opened at $10.58 on Monday. The company has a 50-day simple moving average of $9.88 and a 200-day simple moving average of $10.60. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $1.26 billion, a PE ratio of -22.03 and a beta of 1.75. Pebblebrook Hotel Trust has a 52-week low of $7.41 and a 52-week high of $15.12.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. Pebblebrook Hotel Trust had a negative net margin of 0.61% and a negative return on equity of 0.32%. The business had revenue of $320.27 million during the quarter, compared to the consensus estimate of $311.74 million. During the same period in the previous year, the firm posted $0.21 earnings per share. The company's quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts predict that Pebblebrook Hotel Trust will post 1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PEB. SG Americas Securities LLC bought a new position in shares of Pebblebrook Hotel Trust during the first quarter valued at $510,000. Envestnet Asset Management Inc. lifted its holdings in shares of Pebblebrook Hotel Trust by 11.9% during the first quarter. Envestnet Asset Management Inc. now owns 601,132 shares of the real estate investment trust's stock valued at $6,089,000 after acquiring an additional 63,915 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Pebblebrook Hotel Trust during the fourth quarter valued at $166,000. Nuveen Asset Management LLC lifted its holdings in shares of Pebblebrook Hotel Trust by 82.3% during the fourth quarter. Nuveen Asset Management LLC now owns 2,345,333 shares of the real estate investment trust's stock valued at $31,779,000 after acquiring an additional 1,058,664 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of Pebblebrook Hotel Trust by 8.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,713,156 shares of the real estate investment trust's stock valued at $90,964,000 after acquiring an additional 525,991 shares during the period.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust NYSE: PEB is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels and resorts in the United States. The Company owns 47 hotels and resorts, totaling approximately 12,200 guest rooms across 13 urban and resort markets.

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