Zacks: Analysts Anticipate Pebblebrook Hotel Trust (NYSE:PEB) Will Post Quarterly Sales of $136.08 Million

Wall Street brokerages forecast that Pebblebrook Hotel Trust (NYSE:PEB) will report sales of $136.08 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Pebblebrook Hotel Trust’s earnings. The highest sales estimate is $142.43 million and the lowest is $129.73 million. Pebblebrook Hotel Trust posted sales of $22.59 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 502.4%. The business is expected to issue its next quarterly earnings report on Thursday, July 29th.

According to Zacks, analysts expect that Pebblebrook Hotel Trust will report full-year sales of $601.60 million for the current year, with estimates ranging from $540.33 million to $640.24 million. For the next financial year, analysts expect that the firm will post sales of $1.09 billion, with estimates ranging from $1.06 billion to $1.11 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Pebblebrook Hotel Trust.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings data on Thursday, April 29th. The real estate investment trust reported ($0.98) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.56). Pebblebrook Hotel Trust had a negative return on equity of 5.65% and a negative net margin of 26.65%.

Several equities analysts have weighed in on PEB shares. Zacks Investment Research upgraded Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a report on Thursday, March 18th. BTIG Research lifted their target price on Pebblebrook Hotel Trust from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, March 12th. Finally, Compass Point raised Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $23.50 to $26.00 in a research report on Monday, March 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Pebblebrook Hotel Trust has an average rating of “Hold” and an average target price of $17.68.

Large investors have recently made changes to their positions in the business. Brookfield Asset Management Inc. boosted its stake in shares of Pebblebrook Hotel Trust by 21.2% in the 4th quarter. Brookfield Asset Management Inc. now owns 4,545,828 shares of the real estate investment trust’s stock valued at $85,462,000 after purchasing an additional 795,500 shares during the last quarter. Heitman Real Estate Securities LLC boosted its stake in Pebblebrook Hotel Trust by 161.8% in the fourth quarter. Heitman Real Estate Securities LLC now owns 3,195,227 shares of the real estate investment trust’s stock valued at $60,070,000 after acquiring an additional 1,974,670 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Pebblebrook Hotel Trust by 26.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,326,492 shares of the real estate investment trust’s stock valued at $43,737,000 after buying an additional 481,059 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Pebblebrook Hotel Trust by 9.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,869,299 shares of the real estate investment trust’s stock worth $45,406,000 after buying an additional 167,507 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Pebblebrook Hotel Trust by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,750,979 shares of the real estate investment trust’s stock worth $32,919,000 after purchasing an additional 27,419 shares during the period.

NYSE PEB traded down $0.65 during trading on Friday, hitting $21.70. 45,934 shares of the company traded hands, compared to its average volume of 1,654,667. Pebblebrook Hotel Trust has a 12 month low of $8.58 and a 12 month high of $26.42. The business has a fifty day simple moving average of $24.22 and a 200 day simple moving average of $20.67. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $2.85 billion, a P/E ratio of -12.56 and a beta of 2.04.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $0.04 annualized dividend and a yield of 0.18%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently 1.52%.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 53 hotels, totaling approximately 13,200 guestrooms across 14 urban and resort markets, with a focus on the west coast gateway cities.

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Earnings History and Estimates for Pebblebrook Hotel Trust (NYSE:PEB)

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