Pebblebrook Hotel Trust (NYSE:PEB) Hits New 12-Month High – Time to Buy?

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

Analysts Set New Price Targets

Several research analysts have recently commented on PEB shares. Morgan Stanley raised their price objective on shares of Pebblebrook Hotel Trust from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Thursday, October 22nd. Raymond James Financial upped their target price on shares of Pebblebrook Hotel Trust from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, September 28th. Wells Fargo & Company increased their target price on shares of Pebblebrook Hotel Trust from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday. Citigroup raised their price target 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. Finally, Evercore set a $21.00 price target on shares of Pebblebrook Hotel Trust in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.27.

Pebblebrook Hotel Trust Stock Up 0.9%

The business has a 50-day simple moving average of $18.92 and a two-hundred day simple moving average of $16.02. 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 $2.45 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.01 and a beta of 1.43.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.59). Pebblebrook Hotel Trust had a negative net margin of 3.11% and a negative return on equity of 1.83%. The firm had revenue of $402.75 million during the quarter, compared to analyst estimates of $393.55 million. During the same period in the prior year, the firm posted $0.51 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts predict that Pebblebrook Hotel Trust will post 1.74 EPS for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio is currently -5.80%.

Institutional Investors Weigh In On Pebblebrook Hotel Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc acquired a new position in shares of Pebblebrook Hotel Trust during the 2nd quarter worth approximately $36,905,000. Arrowstreet Capital Limited Partnership grew its position in Pebblebrook Hotel Trust by 51.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,154,627 shares of the real estate investment trust’s stock valued at $27,213,000 after acquiring an additional 736,078 shares during the period. Bank of New York Mellon Corp acquired a new stake in Pebblebrook Hotel Trust during the 2nd quarter worth approximately $18,729,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Pebblebrook Hotel Trust by 5.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 788,621 shares of the real estate investment trust’s stock valued at $15,307,000 after acquiring an additional 41,249 shares in the last quarter. Finally, Bamco Inc. NY purchased a new stake in shares of Pebblebrook Hotel Trust in the second quarter worth about $12,115,000.

About Pebblebrook Hotel Trust

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.