Zacks: Analysts Expect Pebblebrook Hotel Trust (NYSE:PEB) Will Announce Quarterly Sales of $244.32 Million

Brokerages expect Pebblebrook Hotel Trust (NYSE:PEB – Get Rating) to announce $244.32 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Pebblebrook Hotel Trust’s earnings, with estimates ranging from $233.96 million to $258.15 million. Pebblebrook Hotel Trust reported sales of $83.64 million during the same quarter last year, which indicates a positive year over year growth rate of 192.1%. The firm is expected to issue its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Pebblebrook Hotel Trust will report full year sales of $1.24 billion for the current financial year, with estimates ranging from $1.17 billion to $1.31 billion. For the next financial year, analysts forecast that the business will report sales of $1.48 billion, with estimates ranging from $1.44 billion to $1.58 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Pebblebrook Hotel Trust.

Pebblebrook Hotel Trust (NYSE:PEB – Get Rating) last announced its quarterly earnings data on Tuesday, April 26th. The real estate investment trust reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.75). Pebblebrook Hotel Trust had a negative net margin of 25.22% and a negative return on equity of 5.86%. During the same quarter in the previous year, the business earned ($0.42) EPS.

A number of equities research analysts have recently weighed in on the stock. UBS Group lowered shares of Pebblebrook Hotel Trust to a “neutral” rating in a report on Monday, January 10th. Raymond James raised shares of Pebblebrook Hotel Trust from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a report on Monday, January 10th. BMO Capital Markets raised shares of Pebblebrook Hotel Trust from a “market perform” rating to an “outperform” rating and upped their price target for the company from $25.00 to $26.00 in a report on Friday, January 7th. Sumitomo Mitsui Financial Group initiated coverage on shares of Pebblebrook Hotel Trust in a report on Wednesday, March 23rd. They issued an “outperform” rating and a $27.00 price target on the stock. Finally, Bank of America lowered shares of Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and lowered their price target for the company from $26.00 to $24.00 in a report on Monday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.00.

Several hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Pebblebrook Hotel Trust during the 4th quarter worth about $29,928,000. William Blair Investment Management LLC raised its position in shares of Pebblebrook Hotel Trust by 50,305.0% during the 3rd quarter. William Blair Investment Management LLC now owns 1,045,904 shares of the real estate investment trust’s stock worth $23,439,000 after purchasing an additional 1,043,829 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in shares of Pebblebrook Hotel Trust by 25.2% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 4,458,564 shares of the real estate investment trust’s stock worth $99,216,000 after purchasing an additional 898,528 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Pebblebrook Hotel Trust by 1,980.9% during the 4th quarter. Point72 Asset Management L.P. now owns 846,916 shares of the real estate investment trust’s stock worth $18,946,000 after purchasing an additional 806,216 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of Pebblebrook Hotel Trust by 32.0% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,961,689 shares of the real estate investment trust’s stock worth $43,883,000 after purchasing an additional 475,409 shares during the last quarter.

Shares of PEB opened at $24.81 on Wednesday. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of -13.78, a PEG ratio of 1.41 and a beta of 1.82. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.77. Pebblebrook Hotel Trust has a 1-year low of $19.35 and a 1-year high of $26.45. The firm’s fifty day moving average is $23.50.

The company also recently announced a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Thursday, March 31st were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Wednesday, March 30th. Pebblebrook Hotel Trust’s payout ratio is currently -2.22%.

About Pebblebrook Hotel Trust (Get Rating)

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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