Pebblebrook Hotel Trust (NYSE:PEB) issued its quarterly earnings results on Thursday. The real estate investment trust reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.02, Briefing.com reports. The business had revenue of $442.08 million for the quarter, compared to analyst estimates of $435.37 million. Pebblebrook Hotel Trust had a negative return on equity of 0.20% and a negative net margin of 0.53%. Pebblebrook Hotel Trust’s quarterly revenue was up 114.1% compared to the same quarter last year. During the same period last year, the company posted $0.81 earnings per share. Pebblebrook Hotel Trust updated its Q3 2019 guidance to $0.76-0.78 EPS and its FY 2019 guidance to $2.62-2.67 EPS.
NYSE:PEB traded up $0.63 during trading hours on Friday, reaching $28.00. The stock had a trading volume of 1,675,300 shares, compared to its average volume of 1,144,441. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average of $27.93. Pebblebrook Hotel Trust has a 12-month low of $26.39 and a 12-month high of $39.51. The firm has a market capitalization of $3.60 billion, a PE ratio of 11.43, a P/E/G ratio of 2.08 and a beta of 1.34.
The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date was Thursday, June 27th. Pebblebrook Hotel Trust’s dividend payout ratio is currently 62.04%.
A number of large investors have recently added to or reduced their stakes in PEB. PNC Financial Services Group Inc. increased its position in Pebblebrook Hotel Trust by 119.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,574 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 1,399 shares during the last quarter. Raymond James & Associates increased its position in Pebblebrook Hotel Trust by 9.5% in the fourth quarter. Raymond James & Associates now owns 54,355 shares of the real estate investment trust’s stock worth $1,539,000 after buying an additional 4,704 shares during the last quarter. Advisor Group Inc. increased its position in Pebblebrook Hotel Trust by 45.3% in the fourth quarter. Advisor Group Inc. now owns 6,102 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 1,903 shares during the last quarter. Hsbc Holdings PLC increased its position in Pebblebrook Hotel Trust by 129.6% in the fourth quarter. Hsbc Holdings PLC now owns 20,051 shares of the real estate investment trust’s stock worth $568,000 after buying an additional 11,318 shares during the last quarter. Finally, United Services Automobile Association increased its position in Pebblebrook Hotel Trust by 95.4% in the fourth quarter. United Services Automobile Association now owns 32,276 shares of the real estate investment trust’s stock worth $914,000 after buying an additional 15,757 shares during the last quarter.
A number of analysts recently commented on the company. Capital One Financial assumed coverage on Summit Hotel Properties in a report on Tuesday, June 25th. They set an “equal weight” rating and a $13.00 price target on the stock. Wells Fargo & Co reiterated a “hold” rating and set a $130.00 price target on shares of Kimberly Clark in a report on Tuesday. SunTrust Banks reiterated a “hold” rating on shares of Tripadvisor in a report on Monday, May 6th. Zacks Investment Research lowered Phoenix New Media from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Citigroup lowered OIL SEARCH LTD/ADR from a “neutral” rating to a “sell” rating in a report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $35.33.
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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