Pebblebrook Hotel Trust (NYSE:PEB) Sets New 12-Month High - Still a Buy?

Key Points

• Pebblebrook Hotel Trust reached a new 52-week high of $21.41, trading around $21.34, despite analysts’ consensus rating remaining “Hold” with an average price target of $18.27.
• Analyst views are mixed: price targets range from $14 to $22, with ratings spanning Strong Buy to Sell. The company most recently exceeded quarterly EPS and revenue expectations, reporting $0.68 EPS versus the $0.12 consensus estimate.
• The REIT declared a quarterly dividend of $0.01, equivalent to a $0.04 annualized payout and a 0.2% yield; institutional investors also generally increased their holdings during the second and third quarters.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) hit a new 52-week high on Wednesday. The company traded as high as $21.41 and last traded at $21.3430, with a volume of 331,596 shares. The stock had previously closed at $21.31.

Analyst Ratings Changes

Several analysts have issued reports on PEB shares. Barclays dropped their price target on Pebblebrook Hotel Trust from $15.00 to $14.00 and set an "underweight" rating on the stock in a research note on Thursday, August 27th. Morgan Stanley lifted their target price on Pebblebrook Hotel Trust from $14.00 to $15.00 and gave the company an "underweight" rating in a research report on Thursday, October 22nd. Wells Fargo & Company upped their price target on Pebblebrook Hotel Trust from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Monday. Stifel Nicolaus set a $22.00 target price on shares of Pebblebrook Hotel Trust in a report on Monday, October 19th. Finally, Citigroup raised their target price on shares of Pebblebrook Hotel Trust from $15.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Pebblebrook Hotel Trust has a consensus rating of "Hold" and an average price target of $18.27.

Pebblebrook Hotel Trust Trading Up 0.1%

The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -30.94, a price-to-earnings-growth ratio of 1.38 and a beta of 1.43. The firm has a fifty day moving average price of $18.79 and a 200-day moving average price of $15.93.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.56. The firm had revenue of $407.14 million for the quarter, compared to the consensus estimate of $400.05 million. Pebblebrook Hotel Trust had a negative net margin of 3.11% and a negative return on equity of 1.83%. The business's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. As a group, equities analysts anticipate that Pebblebrook Hotel Trust will post 1.74 EPS for the current year.

Pebblebrook Hotel Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Wednesday, September 30th. Pebblebrook Hotel Trust's dividend payout ratio (DPR) is presently -5.80%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Cim Investment Management Inc. boosted its position in Pebblebrook Hotel Trust by 7.3% in the second quarter. Cim Investment Management Inc. now owns 13,180 shares of the real estate investment trust's stock worth $256,000 after purchasing an additional 893 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Pebblebrook Hotel Trust by 9.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 11,001 shares of the real estate investment trust's stock worth $214,000 after acquiring an additional 910 shares during the period. Corient Private Wealth LP lifted its holdings in Pebblebrook Hotel Trust by 1.3% during the second quarter. Corient Private Wealth LP now owns 77,931 shares of the real estate investment trust's stock valued at $1,513,000 after purchasing an additional 1,024 shares during the last quarter. GAMMA Investing LLC boosted its position in Pebblebrook Hotel Trust by 10.5% during the second quarter. GAMMA Investing LLC now owns 11,876 shares of the real estate investment trust's stock worth $231,000 after purchasing an additional 1,130 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of Pebblebrook Hotel Trust by 23.2% in the third quarter. Nisa Investment Advisors LLC now owns 6,282 shares of the real estate investment trust's stock worth $118,000 after purchasing an additional 1,185 shares in the last quarter.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust NYSE: PEB is a publicly traded real estate investment trust that owns and invests in upscale, full-service hotels and resorts in the United States. The company focuses on acquiring, developing, and repositioning lodging properties in major urban and resort destinations.

Its portfolio includes hotels operating under a variety of national, regional, and independent brands. Pebblebrook generally owns the underlying real estate while hotels are operated through management agreements, providing lodging accommodations, food and beverage services, meeting and event facilities, and other guest amenities.

Founded in 2009, Pebblebrook Hotel Trust has emphasized properties in markets with strong tourism, business travel, and cultural or recreational appeal.

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