The Zacks: Analysts Expect Pebblebrook Hotel Trust (NYSE:PEB) Will Post Quarterly Sales of $203.65 Million

The Zacks: Analysts Expect Pebblebrook Hotel Trust (NYSE:PEB) Will Post Quarterly Sales of $203.65 Million

On average, analysts expect that Pebblebrook Hotel Trust will report full year sales of $203.65 million for the current fiscal year, with estimates ranging from $760.54 million to $777.72 million. For the next year, analysts anticipate that the business will report sales of $772.27 million per share, with estimates ranging from $763.23 million to $781.54 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Pebblebrook Hotel Trust.

Wall Street brokerages expect Pebblebrook Hotel Trust (NYSE:PEB) to announce $203.65 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Pebblebrook Hotel Trust’s earnings, with estimates ranging from $199.54 million to $209.30 million. Pebblebrook Hotel Trust posted sales of $208.96 million during the same quarter last year, which suggests a negative year over year growth rate of 2.5%. The business is expected to announce its next quarterly earnings results on Thursday, October 26th.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The company had revenue of $205.72 million during the quarter, compared to the consensus estimate of $199.30 million. Pebblebrook Hotel Trust had a net margin of 8.87% and a return on equity of 4.38%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 earnings per share.

Several research firms have recently issued reports on PEB. Zacks Investment Research lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Stifel Nicolaus lifted their price target on Pebblebrook Hotel Trust from $30.00 to $31.50 and gave the stock a “hold” rating in a research report on Wednesday, June 21st. Raymond James Financial, Inc. reaffirmed an “outperform” rating and issued a $35.00 price target (up previously from $32.00) on shares of Pebblebrook Hotel Trust in a research report on Wednesday, June 28th. Barclays PLC reaffirmed a “buy” rating and issued a $35.00 price target on shares of Pebblebrook Hotel Trust in a research report on Wednesday, June 28th. Finally, BidaskClub raised Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Pebblebrook Hotel Trust presently has an average rating of “Hold” and a consensus target price of $32.08.

Shares of Pebblebrook Hotel Trust (NYSE PEB) opened at 33.19 on Friday. Pebblebrook Hotel Trust has a one year low of $23.56 and a one year high of $34.38. The stock has a market cap of $2.31 billion, a P/E ratio of 48.10 and a beta of 1.24. The stock has a 50 day moving average of $32.83 and a 200 day moving average of $30.44.

Pebblebrook Hotel Trust declared that its Board of Directors has authorized a share buyback program on Thursday, July 27th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 4.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend was Wednesday, June 28th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is 220.29%.

Institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Pebblebrook Hotel Trust by 3.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,549 shares of the real estate investment trust’s stock worth $337,000 after buying an additional 350 shares during the period. Adams Diversified Equity Fund Inc. raised its position in shares of Pebblebrook Hotel Trust by 2.9% in the first quarter. Adams Diversified Equity Fund Inc. now owns 35,300 shares of the real estate investment trust’s stock worth $1,031,000 after buying an additional 1,000 shares during the period. ProShare Advisors LLC raised its position in shares of Pebblebrook Hotel Trust by 106.0% in the first quarter. ProShare Advisors LLC now owns 62,862 shares of the real estate investment trust’s stock worth $815,000 after buying an additional 32,351 shares during the period. Sigma Planning Corp raised its position in shares of Pebblebrook Hotel Trust by 104.5% in the first quarter. Sigma Planning Corp now owns 21,096 shares of the real estate investment trust’s stock worth $616,000 after buying an additional 10,780 shares during the period. Finally, Nationwide Fund Advisors raised its position in shares of Pebblebrook Hotel Trust by 386.4% in the first quarter. Nationwide Fund Advisors now owns 247,378 shares of the real estate investment trust’s stock worth $7,226,000 after buying an additional 196,516 shares during the period.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust is an internally managed hotel investment company. The Company is a real estate investment trust (REIT) that acquires and invests in hotel properties located primarily in cities of the United States. As of December 31, 2016, the Company owned 29 hotels with a total of 7,219 guest rooms.

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