Pebblebrook Hotel Trust (NYSE:PEB)‘s stock had its “buy” rating restated by research analysts at Barclays in a research note issued to investors on Tuesday. They currently have a $38.00 target price on the real estate investment trust’s stock. Barclays‘s price objective suggests a potential upside of 16.89% from the company’s previous close.
The analysts wrote, “We expect PEB shares to benefit as the company delevers the balance sheet and improves the growth profile of the portfolio through asset sales activity this year. PEB announced the sale of the 343-room Liaison Capital Hill hotel in Washington D.C. for $111mn, or 16.9x 2018 EBITDA and a 4.9% 2018 cap rate. The sale price equates to 324,000 per key. PEB acquired the hotel in the LaSalle transaction last year. In 2001, LaSalle purchased the property (then called Holiday for $44mn. We believe the sale is a positive indicator for the value of Washington D.C. hotel real estate. The Washington D.C. market has faced softer growth due to an ongoing decline of lobbying activity and high supply growth. In addition, the market faces a weaker convention calendar in 2019. These challenges have been partially offset by higher leisure demand.””
Other equities analysts also recently issued reports about the stock. Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Monday, November 12th. Bank of America reiterated a “buy” rating and set a $36.00 price objective on shares of Pebblebrook Hotel Trust in a research note on Monday, October 29th. ValuEngine upgraded shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, December 5th. Finally, Raymond James dropped their price objective on shares of Pebblebrook Hotel Trust from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, December 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Pebblebrook Hotel Trust presently has an average rating of “Hold” and a consensus target price of $36.88.
PEB stock traded down $0.59 during mid-day trading on Tuesday, reaching $32.51. The company had a trading volume of 82,388 shares, compared to its average volume of 1,198,070. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $2.29 billion, a P/E ratio of 12.65, a P/E/G ratio of 2.47 and a beta of 1.39. Pebblebrook Hotel Trust has a 12 month low of $26.59 and a 12 month high of $41.65.
In other Pebblebrook Hotel Trust news, Director Cydney Donnell acquired 1,400 shares of the company’s stock in a transaction dated Friday, December 7th. The shares were purchased at an average cost of $35.58 per share, for a total transaction of $49,812.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can lifted its position in Pebblebrook Hotel Trust by 4.4% during the third quarter. Great West Life Assurance Co. Can now owns 46,801 shares of the real estate investment trust’s stock valued at $1,702,000 after acquiring an additional 1,974 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Pebblebrook Hotel Trust by 51.9% in the third quarter. Teachers Advisors LLC now owns 920,503 shares of the real estate investment trust’s stock worth $33,479,000 after acquiring an additional 314,484 shares during the period. Pensionfund DSM Netherlands acquired a new stake in shares of Pebblebrook Hotel Trust in the fourth quarter worth $1,526,000. Deutsche Bank AG increased its stake in shares of Pebblebrook Hotel Trust by 1.1% in the third quarter. Deutsche Bank AG now owns 694,297 shares of the real estate investment trust’s stock worth $25,250,000 after acquiring an additional 7,328 shares during the period. Finally, MetLife Investment Advisors LLC increased its stake in shares of Pebblebrook Hotel Trust by 57.2% in the third quarter. MetLife Investment Advisors LLC now owns 48,560 shares of the real estate investment trust’s stock worth $1,766,000 after acquiring an additional 17,669 shares during the period.
Pebblebrook Hotel Trust Company Profile
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 64 hotels, totaling approximately 15,400 guest rooms, located in 11 states and the District of Columbia, in the following markets: 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; Minneapolis, Minnesota; New York, New York; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.
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