Wall Street analysts expect Pebblebrook Hotel Trust (NYSE:PEB) to post $228.32 million in revenue for the current quarter, reports Zacks Investment Research. Three analysts provided earnings estimates for Pebblebrook Hotel Trust, with the lowest sales estimate at $225.19 million and the highest estimate at $230.38 million. Pebblebrook Hotel Trust recorded sales of $74.21 million in the same quarter last year, indicating a positive year-over-year growth rate of 207.7%. The company is expected to announce its next quarterly earnings report on Tuesday, February 22.
According to Zacks, analysts expect Pebblebrook Hotel Trust to record annual sales of $709.64 million for the current year, with estimates ranging from $696.30 to $716.15 million. For the next fiscal year, analysts expect the company to post sales of $1.18 billion, with estimates ranging from $1.15 billion to $1.21 billion. Zacks sales calculations are an average average based on a survey of analysts who cover Pebblebrook Hotel Trust.
Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly results on Thursday, October 28. The real estate investment trust reported ($0.34) earnings per share (EPS) for the quarter, meeting Thomson Reuters consensus estimate of ($0.34). The company posted revenue of $238.80 million for the quarter, versus a consensus estimate of $232.39 million. Pebblebrook Hotel Trust had a negative net margin of 56.31% and a negative return on equity of 9.74%. The company’s quarterly revenue increased 210.1% year over year. In the same quarter of the previous year, the company achieved EPS of ($0.51).
Several brokerages have recently released ILL reports. Raymond James upgraded shares of Pebblebrook Hotel Trust from a “market performer” rating to an “outperformer” rating and set a price target of $27.00 on the stock in a research report from the Monday January 10. Citigroup lowered its price target on Pebblebrook Hotel Trust from $26.00 to $25.00 and set a “neutral” rating for the company in a Wednesday, October 6 report. Zacks Investment Research upgraded the Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and set a price target of $27.00 for the company in a Wednesday, November 3 report. BMO Capital Markets upgraded Pebblebrook Hotel Trust from a “market performer” rating to an “outperformer” rating and raised its price target for the stock from $25.00 to $26.00 in a report by the Friday, January 7. Finally, UBS Group downgraded Pebblebrook Hotel Trust to a “neutral” rating in a Monday, January 10 report. Four investment analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat.com, Pebblebrook Hotel Trust has an average rating of “Buy” and a consensus target price of $26.00.
In related news, CEO Jon E. Bortz sold 7,366 shares in a trade that took place on Wednesday, December 22. The stock was sold at an average price of $25.01, for a total transaction of $184,223.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, CEO Jon E. Bortz sold 19,132 shares in a trade that took place on Wednesday, December 29. The stock was sold at an average price of $24.90, for a total value of $476,386.80. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 30,979 shares of the company valued at $772,842. 1.90% of the shares are currently held by insiders of the company.
A number of hedge funds and other institutional investors have been buying and selling stocks recently. Schonfeld Strategic Advisors LLC increased its stake in Pebblebrook Hotel Trust by 18.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 37,100 shares of the real estate investment trust worth $831,000 after buying an additional 5,700 shares in the last quarter. Phocas Financial Corp. increased its stake in Pebblebrook Hotel Trust by 0.5% during the 3rd quarter. Phocas Financial Corp. now owns 315,699 shares of the real estate investment trust worth $7,075,000 after purchasing an additional 1,574 shares last quarter. BNP Paribas Arbitrage SA increased its stake in Pebblebrook Hotel Trust by 33.5% during the third quarter. BNP Paribas Arbitrage SA now owns 245,972 shares of the real estate investment trust worth $5,512,000 after buying an additional 61,724 shares last quarter. Janus Henderson Group PLC acquired a new stake in Pebblebrook Hotel Trust during Q3 for a value of approximately $297,000. Finally, Rehmann Capital Advisory Group increased its stake in Pebblebrook Hotel Trust by 43.9% during the third quarter. Rehmann Capital Advisory Group now owns 35,387 shares of the real estate investment trust worth $748,000 after buying an additional 10,792 shares last quarter.
NYSE PEB shares opened at $23.96 on Friday. The company’s 50-day simple moving average is $22.49 and its 200-day simple moving average is $22.49. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of -8.62, a growth price-to-earnings ratio of 1.30 and a beta of 1.87. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt ratio of 0.74. Pebblebrook Hotel Trust has a 12-month low of $17.57 and a 12-month high of $26.45.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 18. Shareholders of record on Friday, December 31 will receive a dividend of $0.01. The ex-date of this dividend is Thursday, December 30. This represents a dividend of $0.04 on an annualized basis and a dividend yield of 0.17%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently -1.44%.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is a real estate investment trust dedicated to investing in and acquiring hotel properties. Its hotels are located in markets such as: Atlanta, Georgia; Boston, MA; Chicago, Ill.; Key West, Florida; Miami, Los Angeles, Naples, Nashville, Tennessee; New York, Philadelphia, Pennsylvania; Portland, Oregon; San Diego, California; San Francisco, Seattle, Stevenson and Washington, D.C. The company was founded by Jon E.
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